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    9373 Macon Rd Cordova, TN 38016
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    9373 Macon Rd, Cordova, TN 38016

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    • Manufacturing properties
    • 45,980 SF
    • 9.79 lot acres
    For Lease
    $8 SF/Yr
    View Listing →
    Cordova Industrial Building For Rent For Lease
    $8 SF/Yr

    Cordova Industrial Building For Rent

    Multi-tenant industrial building in Cordova's Macon Road Industrial Park.

    9373 Macon Rd, Cordova, TN 38016
    View Listing
    Property ID
    US80-3230551
    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.
    Value Estimations
    $3,055,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • T & M Services Inc / Electrical Service / General Contractor
    • Roto-Rooter Plumbing & Water Cleanup / Plumbing Service / General Contractor

    Property Details for 9373 Macon Rd

    Year built
    1967
    Lot size
    9.79 lot acres
    Zone code
    IH
    Property type
    Manufacturing properties
    APN
    D02-15 - - -00109-C
    APU
    D021500109C

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 19, 2022 $3,300,000 Macon Road Industrial Park LLC William A Mcmahan Special Warranty Deed $2.6M · First Horizon Bank
    Jun 10, 2014 — David V Couch Macon Road Holdings LLC Quit Claim Deed · related —
    Jun 10, 2014 $1,500,000 William A Mcmahan Couch,david V Warranty Deed $1.2M · Bancorp South Bank
    Sep 12, 2008 $650,000 Macon Road Holdings LLC Duke Forest Products Warranty Deed · related $572k · Renasant Bank
    — — William A Mcmahan — Deed Of Trust · related $1.7M · Renasant Bk

    Description

    This exceptional 47,999 square foot Class B industrial warehouse, located at 9373 Macon Rd in Cordova, Tennessee, presents a unique investment opportunity. Built in 1967 and situated within the Macon Road Industrial Park, this multi-tenant property offers twelve individual suites, ranging from a minimum of 276 square feet to a maximum contiguous space of 12,000 square feet. Currently, the entire 47,999 square feet is available for lease. The property is zoned for industrial use and benefits from its prime location in Cordova's thriving industrial district within Shelby County (zip code 38016). This versatile space is ideal for a variety of businesses seeking flexible and adaptable warehouse solutions. The building's age presents an opportunity for potential upgrades and customization to meet specific tenant needs. With its convenient location and ample space options, this property offers significant potential for growth and profitability. Interested parties should note the total building square footage and the range of available suite sizes to determine suitability for their operational requirements. The property's location within the established Macon Road Industrial Park provides easy access to major transportation routes and other essential business amenities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,740,000
      ML approach
      $2,875,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,840,000
      Current use
      AUTO REPAIR, GARAGE
      $4,600,000
      Change: +150% Conversion: Easy
      RETAIL STORES
      $4,130,000
      Change: +124% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $4,105,000
      Change: +123% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cordova
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.7491
    Latitude
    35.1631
    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
    $20,175
    $119,920
    $475,200
    $595,120
    -
    $299,800
    $1,188,000
    $1,487,800

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      MINI-WAREHOUSE, STORAGE
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      View Details

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    Similar Nearby for Lease

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      Cordova Industrial Building For Rent

      Multi-tenant industrial building in Cordova's Macon Road Industrial Park.
      9373 Macon Rd, Cordova, TN 38016
      View Details
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      44,902 SF

      Cordova Office & Flex Space

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      Cordova Industrial Spaces For Lease

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    Cordova, TN 38016
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    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.

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