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    Property profile & analytics

    948 Reddoch Cv Memphis, TN 38119

    • Office buildings
    • 2,149 SF
    • 0.27 lot acres
    For Sale
    View listing
    Last Sale
    Jan 24, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0428951
    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

    • American National Insurance Co / Insurance Agency
    • TelaMed PLUS / Medical Clinic
    • Brent Taylor and Paul McCarver Funeral Directors / Cremation Service / Funeral Director
    • The Stevens Agency representing American National / Insurance Agency
    • Benefits Consulting Group / Insurance Agency

    Property Details for 948 Reddoch Cv

    Year built
    1954
    Lot size
    0.27 lot acres
    Property size
    2,149 SF
    Zone code
    CMU-1
    Property type
    Office buildings
    APN
    056-038- - -00007
    APU
    5603800007

    Description

    This exceptional 2,149 square foot Class B executive office building, constructed in 1954, sits on a 0.274-acre lot in the heart of East Memphis, Tennessee (APN: 056038 00007). Located just off Poplar Avenue, it benefits from high visibility and significant traffic (38,809 AADT). The property boasts a strong net operating income (NOI) of $41,803.19. Currently, the building is occupied by Brent Taylor and Paul McCarver Funeral Directors under a lease expiring April 30, 2025 (lease term: 61.5 months, start date: March 15, 2020). Additionally, parking spaces are leased to Sunrise Memphis under a separate 120-month lease (start date: December 19, 2022, end date: December 19, 2032). The surrounding area features a high concentration of retail establishments, including well-known national and local brands such as Office Depot, Domino's Pizza, The Fresh Market, and many more, indicating a strong and vibrant commercial environment. The 1-mile household median income of $108,893 further underscores the desirability of this location. This property presents a compelling investment opportunity in a thriving East Memphis market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.8797
    Latitude
    35.1057
    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
    $8,738
    $57,440
    $86,000
    $143,440
    -
    $143,600
    $215,000
    $358,600

    Comparable in this City

    • Value Estimation
      $14,025,000
      74,730 SF

      6200 Poplar Ave

      OFFICE BUILDING • 74,730 SF
      6200 Poplar Ave, Memphis, TN 38119-4713
      View Details
    • Value Estimation
      $40,055,000
      222,517 SF

      6410 Poplar Ave

      OFFICE BUILDING (MULTI-STORY) • 222,517 SF
      6410 Poplar Ave, Memphis, TN 38119-4843
      View Details
    • Value Estimation
      $820,000
      6,216 SF

      1049 Cresthaven Rd

      OFFICE BUILDING • 6,216 SF
      1049 Cresthaven Rd, Memphis, TN 38119-3833
      View Details
    • Value Estimation by Request
      1,980 SF

      1017 Brookfield Rd

      OFFICE BUILDING • 1,980 SF
      1017 Brookfield Rd, Memphis, TN 38119-3836
      View Details
    • Value Estimation
      $2,620,000
      20,336 SF

      1000 Brookfield Rd

      OFFICE BUILDING • 20,336 SF
      1000 Brookfield Rd, Memphis, TN 38119-0802
      View Details
    • Value Estimation
      $8,950,000
      85,552 SF

      1255 Lynnfield Rd

      OFFICE BUILDING • 85,552 SF
      1255 Lynnfield Rd, Memphis, TN 38119-5161
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,149 SF

      East Memphis Office Building

      Office building in the heart of East Memphis.
      948 Reddoch Cv, Memphis, TN 38119
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      2,204 SF

      East Memphis Office/Retail Building

      2,204 SF office/retail building with warehouse/service area.
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      East Memphis Executive Office Building

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      Historic Memphis school, 46,851 SF, 3.56 acres.
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    • $1,100,000

      East Memphis Land For Sale

      0.64 acres of land in the heart of East Memphis.
      5450 Poplar Ave, Memphis, TN 38119
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    • Contact for pricing
      4.28 Acres

      Memphis Commercial Land - 4.28 Acres

      Prime Memphis location, flexible zoning, high traffic.
      0 Quince Rd, Memphis, TN 38119
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,945 SF

      Class A Office Space

      East Memphis office building with 3,945 square feet available.
      6060 Poplar Ave, Memphis, TN 38119
      View Details
    • Contact for pricing
      2,515 SF

      Single Story Office Building

      Office building with high visibility and ample parking.
      2715 Kirby Rd, Memphis, TN 38119
      View Details
    • $35 SF/Yr
      8,398 SF

      Class A Office Space

      East Memphis office building with distinctive curved design.
      6075 Poplar Ave, Memphis, TN 38119
      View Details
    • Contact for pricing
      17,057 SF

      Prominent Poplar Avenue Office Building

      Stand-alone building ideal for banks, medical, or professional offices.
      6445 Poplar Ave, Memphis, TN 38119
      View Details
    • $240 SF/Yr
      100,904 SF

      Lynnfield Office Park: East Memphis

      Prime East Memphis Office Space: 27 Suites Available
      1555 Lynnfield Rd, Memphis, TN 38119
      View Details
    • $23 SF/Yr
      5,389 SF

      Memphis Executive Office Suites

      Prime Memphis Office Space Available
      5658 Rex Rd, Memphis, TN 38119
      View Details
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    Memphis, TN 38119
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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.

    More about this property
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