Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    855 Ridge Lake Blvd Memphis, TN 38120

    • Office buildings
    • 89,248 SF
    • 3.31 lot acres
    For Lease
    View listing
    Last Sale
    Aug 12, 2022
    $7,900,000
    Value Estimations
    $7,275,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1257230
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Evolve Bank & Trust Home Loan Center / Mortgage Lender
    • Wesley Channels - State Farm Insurance Agent / Auto Insurance Agency / Home Insurance Agency
    • Law Office of E.M.Wafula,PLLC / Immigration Attorney
    • Churchill Studios / Video Production Service
    • Colby Dorris - Mortgage Lender / Mortgage Lender

    Property Details for 855 Ridge Lake Blvd

    Year built
    1973
    Lot size
    3.31 lot acres
    Property size
    89,248 SF
    Zone code
    OG
    Property type
    Office buildings
    APN
    080-023- -A-00022
    APU
    080023A00022

    Description

    This exceptional traditional office space, located at 855 Ridge Lake Blvd in Memphis, Tennessee, offers a single suite totaling 3,500 square feet. Situated in a six-story Class C building constructed in 1973, this property boasts a convenient location off the Poplar and I-240 corridor in East Memphis. The building features an elevator for easy access to all floors. The address is 855 Ridge Lake Blvd, Memphis, TN 38120, with Shelby County APN 080023 A00022. This multiple-tenancy building provides a professional environment with proximity to a variety of local retail shops and restaurants. The available space is ideal for businesses seeking a well-located, functional office environment in a thriving East Memphis commercial district. The maximum contiguous square footage available is 3,500 square feet. This presents a unique opportunity for a business seeking a single, sizable office suite in a well-established building. The property's convenient location offers easy access to major transportation routes, enhancing its appeal to businesses and employees alike.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,280,000
      ML approach
      $7,345,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,263,000
      Market price range: $10.3M - $22.0M
      AI Estimate
      $8,982,000
      Market price range: $3.78M - $25.3M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8688
    Latitude
    35.1084
    CBSA code
    32820
    CBSA name
    MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $170,390
    $924,840
    $1,872,280
    $2,797,120
    -
    $2,312,100
    $4,680,700
    $6,992,800

    Comparable in this City

    • Value Estimation
      $790,000
      96,756 SF

      1661 International Dr Ste, Unit 340

      OFFICE BUILDING • 96,756 SF
      1661 International Dr Ste, Memphis, TN 38120-1431
      View Details
    • Value Estimation
      $1,090,000
      63,413 SF

      1661 Aaron Brenner Dr

      OFFICE BUILDING • 63,413 SF
      1661 Aaron Brenner Dr, Memphis, TN 38120-1468
      View Details
    • Value Estimation
      $635,000
      212,515 SF

      1715 Aaron Brenner Dr

      OFFICE BUILDING (MULTI-STORY) • 212,515 SF
      1715 Aaron Brenner Dr, Memphis, TN 38120-1442
      View Details
    • Value Estimation by Request
      187,026 SF

      949 Shady Grv S Rd

      OFFICE BUILDING (MULTI-STORY) • 187,026 SF
      949 Shady Grv S Rd, Memphis, TN 38120-4131
      View Details
    • Value Estimation by Request
      103,252 SF

      889 Rdg Lk Blvd

      OFFICE BUILDING • 103,252 SF
      889 Rdg Lk Blvd, Memphis, TN 38120-9425
      View Details
    • Value Estimation by Request
      20,536 SF

      6141 Walnut Grv Rd

      OFFICE BUILDING • 20,536 SF
      6141 Walnut Grv Rd, Memphis, TN 38120-2179
      View Details

    Similar Nearby for Sale

    • $4,500,000
      17,966 SF

      Valleybrook Drive Office Building For Sale

      Spacious office building with flexible layout available for sale.
      825 Valleybrook Dr, Memphis, TN 38120
      View Details
    • $539,000
      1,582 SF

      Ground Floor Office Condo

      Office condo for sale with exterior maintenance included.
      6373 N Quail Hollow Rd, Memphis, TN 38120
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,885 SF

      Class B Office Space Available

      Two-story office building with flexible space and convenient parking.
      5865 Ridgeway Center Pkwy, Memphis, TN 38120
      View Details
    • Contact for pricing
      2,457 SF

      Renovated Office Building For Lease

      Six-story office building with ample parking and renovated lobby.
      855 Ridge Lake Blvd, Memphis, TN 38120
      View Details
    • Contact for pricing
      4,405 SF

      Class A Office Space Memphis

      Class A office building in East Memphis business district.
      6070 Shady Grove Rd, Memphis, TN 38120
      View Details
    • Contact for pricing
      936 SF

      Class B Office Space Available

      Class B office building with on-site management and convenient parking.
      5885 Ridgeway Center Pkwy, Memphis, TN 38120
      View Details
    • Contact for pricing
      5,558 SF

      Class A Office Space

      155,000 SF office building in Ridgeway Center.
      1000 Ridgeway Loop Rd, Memphis, TN 38120
      View Details
    • $22 SF/Yr
      18,142 SF

      Regus Colonnade

      Office space • 18,142 SF
      1661 International Dr, Memphis, TN 38120
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    855 Ridge Lake Blvd
    Memphis, TN 38120
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.