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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Broad Ave Memphis, TN 38112

    • Medical offices
    • 9,000 SF
    • 1.14 lot acres
    OFF-MARKET
    Value Estimations
    $950,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0578840
    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

    • Medical offices

    Property Details for Broad Ave

    Year built
    2005
    Lot size
    1.14 lot acres
    Property size
    9,000 SF
    Zone code
    CMU-1
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    037-020- -A-00001
    APU
    037020A00001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,287,000
      Market price range: $519k - $1.90M
      AI Estimate
      $608,000
      Market price range: $293k - $991k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,285,000
      Current use
      OFFICE BUILDING
      $1,075,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9657
    Latitude
    35.1468
    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
    -
    $121,400
    $1,035,200
    $1,156,600

    Comparable in this City

    • Value Estimation
      $855,000
      8,123 SF

      2953 Broad Ave

      MEDICAL BUILDING • 8,123 SF
      2953 Broad Ave, Memphis, TN 38112-2957
      View Details
    • Value Estimation
      $1,060,000
      178,696 SF

      1550 Pkwy Parkway

      HOMES (RETIRED, NURSING) • 178,696 SF
      1550 Pkwy Parkway, Memphis, TN 38112-4900
      View Details
    • Value Estimation by Request
      6.43 Acres

      3114 Jackson Ave

      HOMES (RETIRED, NURSING) • 6.43 Acres
      3114 Jackson Ave, Memphis, TN 38112-1520
      View Details
    • Value Estimation by Request
      1,698 SF

      647 Hillcrest St

      OFFICE BUILDING • 1,698 SF
      647 Hillcrest St, Memphis, TN 38112-2411
      View Details
    • Value Estimation
      $955,000
      24,750 SF

      2552 Poplar Ave

      OFFICE BUILDING (MULTI-STORY) • 24,750 SF
      2552 Poplar Ave, Memphis, TN 38112-3852
      View Details
    • Value Estimation
      $8,100,000
      72,336 SF

      2714 Un Ave Ext

      OFFICE BUILDING (MULTI-STORY) • 72,336 SF
      2714 Un Ave Ext, Memphis, TN 38112-4436
      View Details

    Similar Nearby for Sale

    • $395,000
      2,500 SF

      Office, Showroom, Retail Property

      2,500 SF corner property in Broad Avenue Arts District.
      2526 Sam Cooper Blvd, Memphis, TN 38112
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    • Contact for pricing
      55,356 SF

      Fully Leased Memphis Office Building

      Long-term tenants, primarily City of Memphis divisions, offer stable income.
      2714 Union Avenue Ext, Memphis, TN 38112
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    • Contact for pricing

      Commercial Land For Sale

      Commercial land available for self-storage development.
      Summer Ave, Memphis, TN 38112
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      0.14 Acres

      Cleared Lot in Memphis Location

      Accessible Memphis lot ideal for new construction or investment.
      Yale Ave, Memphis, TN 38112
      View Details
    • $48,900
      0.09 Acres

      Builder-Ready Lot Near Overton Park

      Vacant lot with utilities ready near Overton Park and Midtown.
      328 Williford St, Memphis, TN 38112
      View Details
    • Contact for pricing
      26.55 Acres

      Prime Memphis Commercial Land

      26.55 Acres, Mixed-Use Zoning, Hwy 57 & 196
      0 Hwy 196 & Hwy 57, Memphis, TN 38112
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      42,666 SF

      Midtown Memphis Office Building

      42,666 SF Office Space Available
      2400 Poplar Ave, Memphis, TN 38112
      View Details
    • $19 SF/Yr
      2,046 SF

      Renovated Office Space For Rent

      Full floor office space with renovated lobby and ample parking.
      2670 Union Avenue Ext, Memphis, TN 38112
      View Details
    • Contact for pricing
      18,000 SF

      Broad Avenue Retail Opportunity

      Prime Memphis Retail Space Available
      2977 Broad Ave, Memphis, TN 38112
      View Details
    • $3,000 /Mo
      1,000 SF

      Retail Space on Broad Avenue

      Retail spaces for lease in growing Broad Avenue area.
      2543 Broad Ave, Memphis, TN 38112
      View Details
    • Contact for pricing

      Poplar Avenue Ground Lease Opportunity

      0.886 acres of commercial land available for ground lease.
      2486 Poplar Ave, Memphis, TN 38112
      View Details
    • Contact for pricing
      6,000 SF

      Midtown Flex/Showroom Space Available

      6,000 SF flex/showroom space with high visibility in Memphis.
      174 Collins St, Memphis, TN 38112
      View Details
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    Broad Ave
    Memphis, TN 38112
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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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