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    Property profile & analytics

    962 Estate Dr Memphis, TN 38119

    • Office buildings
    • 12,867 SF
    • 4.00 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1136447
    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

    • Office buildings

    Property Details for 962 Estate Dr

    Year built
    1982
    Lot size
    4.00 lot acres
    Property size
    12,867 SF
    Zone code
    R-10
    Property type
    Office buildings
    APN
    067-086- - -00062
    APU
    6708600062

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,500,000
      6.5%
      $3,230,000
      7%
      $3,000,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,478,000
      Market price range: $1.35M - $2.48M
      AI Estimate
      $1,873,000
      Market price range: $617k - $1.87M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,765,000
      Current use
      RESTAURANT
      $3,960,000
      Change: +125% Conversion: Moderate
      MEDICAL BUILDING
      $1,840,000
      Change: +4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.883
    Latitude
    35.1049
    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
    $90,549
    $532,280
    $954,160
    $1,486,440
    -
    $1,330,700
    $2,385,400
    $3,716,100

    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

      East Memphis Office/Retail Building

      2,204 SF office/retail building in East Memphis for sale.
      968 Reddoch Cv, Memphis, TN 38119
      View Details
    • Contact for pricing

      East Memphis Building Near Poplar

      2,149 SF building in the heart of East Memphis.
      948 Reddoch Cv, Memphis, TN 38119
      View Details
    • Contact for pricing

      Fully Leased Office Building For Sale

      Fully leased office building in East Memphis near Poplar Avenue.
      6242 Poplar Ave, Memphis, TN 38119
      View Details
    • Contact for pricing
      2,149 SF

      East Memphis Office Building

      Office building in the heart of East Memphis.
      948 Reddoch Cv, Memphis, TN 38119
      View Details
    • $695,000

      East Memphis Office Building

      Two-story office building in East Memphis with renovated interiors.
      1027 S Yates Rd, Memphis, TN 38119
      View Details
    • Contact for pricing

      East Memphis Office Suite

      1,500 SF office suite off Poplar Avenue in East Memphis.
      6242 Poplar Ave, 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

      East Memphis Office Building For Lease

      2,149 SF office building in the heart of East Memphis.
      948 Reddoch Cv, 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
    • Contact for pricing
      23,258 SF

      Class A Medical Office Building

      Medical office building with high visibility and ample parking.
      6555 Quince Rd, Memphis, TN 38119
      View Details
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    962 Estate Dr
    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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