5180 Park AveMemphis, TN 38119

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 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.

• CAP approach

  CAP return

  Valuation

  6%

  $7,169,160

  6.5%

  $6,617,680

  7%

  $6,144,990

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,422,680

  Geo Method

  $3,422,680

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $13,195,000

  Retail / Commercial

  $6,733,780

  Mixed-Use / Specialty

  $6,684,110

  Hospitality / Lodging

  $4,870,520

  Institutional / Educational

  $6,939,620

  Residential Income

  $8,119,350

  Multifamily

  $9,880,140

  Automotive / Energy

  $5,948,240

  Parking / Income-Based Land

  $2,078,010

  Restaurant / Food Service

  $3,421,710

  Healthcare / Senior Housing

  $6,880,740

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

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