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

    885 Madison Ave Memphis, TN 38103

    • Parking lots & garages
    • 19,160 SF
    • 5.51 lot acres
    OFF-MARKET
    Last Sale
    Apr 12, 2021
    $16,000,000
    Value Estimations
    $16,000,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-2089875
    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

    • Parking lots & garages

    Property Details for 885 Madison Ave

    Year built
    2009
    Lot size
    5.51 lot acres
    Property size
    19,160 SF
    Zone code
    CMP-1
    Property type
    Parking lots & garages
    APN
    018-053- - -00017
    APU
    1805300017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $12,850,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.0305
    Latitude
    35.1399
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $1,455,300
    $959,100
    $2,414,400

    Comparable in this City

    • Value Estimation by Request
      0.01 Acres

      283 Frnt St

      PARKING GARAGE, PARKING STRUCTURE • 0.01 Acres
      283 Frnt St, Memphis, TN 38103
      View Details
    • Value Estimation by Request
      131,100 SF

      21 2nd St

      PARKING GARAGE, PARKING STRUCTURE • 131,100 SF
      21 2nd St, Memphis, TN 38103-2612
      View Details
    • Value Estimation by Request
      0.11 Acres

      1 Peabody Pl, Unit 4

      PARKING GARAGE, PARKING STRUCTURE • 0.11 Acres
      1 Peabody Pl, Memphis, TN 38103-3622
      View Details
    • Value Estimation
      $3,710,000
      268,358 SF

      964 Un Ave

      PARKING GARAGE, PARKING STRUCTURE • 268,358 SF
      964 Un Ave, Memphis, TN 38103
      View Details
    • Value Estimation
      $855,000
      135,624 SF

      202 Jefferson Ave

      PARKING GARAGE, PARKING STRUCTURE • 135,624 SF
      202 Jefferson Ave, Memphis, TN 38103
      View Details
    • Value Estimation
      $845,000
      73,062 SF

      79 Un Ave

      PARKING GARAGE, PARKING STRUCTURE • 73,062 SF
      79 Un Ave, Memphis, TN 38103-5113
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15,000 SF

      South Main Arts District Portfolio

      Portfolio in vibrant South Main Arts District with diverse potential.
      345-365 S Main St, Memphis, TN 38103
      View Details
    • $499,000
      3,503 SF

      South Bluffs Commercial Property

      Commercial property in South Bluffs, suitable for a small business.
      619 Madison Ave, Memphis, TN 38103
      View Details
    • $675,000
      6,500 SF

      Downtown Memphis Restaurant Condo

      Iconic Court Square location, 6,500 sq ft.
      113 Court Ave, Memphis, TN 38103
      View Details
    • Contact for pricing
      29,310 SF

      Retail Property in Memphis

      Retail property available for sale in Memphis, Tennessee.
      311 S Main St, Memphis, TN 38103
      View Details
    • Contact for pricing
      14,137 SF

      Beale Street Entertainment Venue

      Three-story entertainment venue with stages, bars, and a kitchen.
      152 Beale St, Memphis, TN 38103
      View Details
    • Contact for pricing
      10,032 SF

      Edge District Retail Space For Sale

      10,032 SF retail space in Memphis's growing Edge District.
      629 Monroe Ave, Memphis, TN 38103
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Memphis Retail Space Available

      Retail space for lease in downtown Memphis near Beale Street.
      60 Beale St, Memphis, TN 38103
      View Details
    • Contact for pricing
      308,304 SF

      Downtown Memphis Office and Retail

      Office and retail spaces with excellent views and amenities.
      50 N Front St, Memphis, TN 38103
      View Details
    • Contact for pricing
      29,112 SF

      Memphis Retail Space - Monroe Blvd

      High-profile Memphis retail, 5 suites available
      421 Monroe Blvd, Memphis, TN 38103
      View Details
    • Contact for pricing

      Downtown Memphis Retail Space

      Retail space for lease in Downtown Memphis.
      363 S Front St, Memphis, TN 38103
      View Details
    • Contact for pricing
      4,000 SF

      Restaurant Space in Downtown Memphis

      4,000 SF fully built-out restaurant space for lease.
      10 S Main St, Memphis, TN 38103
      View Details
    • $2,300 /Mo

      Prime Retail Space in Downtown

      Dynamic commercial space in a high-traffic downtown location.
      70 Union Ave, Memphis, TN 38103
      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.
    885 Madison Ave
    Memphis, TN 38103
    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.