5180 Park AveMemphis, TN 38119

  • Office properties
  • 43,903 SF
For Lease
$18/SF/YR View listing

Property Details for 5180 Park Ave

Year built
1987
Lot size
2.04 AC
Property size (Sq ft)
43,903 SF
Zone code
R-10
Property type
Office properties
Property subtype
Office buildings
APN
067-001- - -00015-C
APU
06700100015C

Description

This three-story, 37,588-square-foot Class B office building, constructed in 1987 and renovated in 2020, offers a variety of traditional, executive, and medical office spaces for lease. Located at 5180 Park Ave, Memphis, TN 38119, near the intersection of S White Station Road and Park Avenue, this property boasts 30 suites, with a minimum divisible space of 100 square feet and a maximum contiguous space of 4,000 square feet. Currently, 6,000 square feet of space is vacant. The building features two elevators and ample parking with 250 spaces, providing convenient access for tenants and visitors. Ground floor suites offer easy accessibility. Many suites include full bathrooms. The building's location in the Poplar Area submarket of East Memphis provides excellent access to major thoroughfares including I-240, Hwy 385, I-40, and I-55, placing it in a vibrant retail, business, and medical area with numerous restaurants and shopping centers nearby. The zoning is commercial. This established and well-known building is ideal for a variety of professional and medical practices.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $6,325,726
    6.5%
    $5,839,132
    7%
    $5,422,051
  • Comparable approach

    Method
    Valuation
    Relative Method
    $3,422,678
    Geo Method
    $3,422,678
  • Alternative Use

    Use
    Valuation
    Residential
    $7,240,524
    Hospitality
    $6,632,281
    Educational
    $5,517,980
    Medical
    $5,707,752
    Retail
    $8,583,524
5180 Park Ave, Memphis, Tennessee

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.1064
Longitude
-89.8893
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
$40,704
$287,080
$381,120
$668,200
-
$717,700
$952,800
$1,670,500

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