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1,784 Commercial Real Estate Listings in Memphis, TN

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Memphis, TN Commercial Real Estate

There are currently 1,771 commercial listings available in Memphis, TN. These listings include 1,065 commercial spaces that encompass a total of 18,808,234 square feet. Available commercial spaces in Memphis, TN range in size from 0 square feet to 1,101,600 square feet. A total of 1,234 off-market commercial properties located in Memphis, TN are also available for research.

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Memphis, TN Commercial Real Estate Market Overview

Location Photo

Memphis, Tenn. is the state’s second-largest city and a major transportation hub on the Mississippi River. Commercial real estate in Memphis is mostly driven by the metro’s status as a transportation hub, as the area is well-connected for logistics through the Memphis International Airport (the second-busiest cargo airport in the world), I-40, I-55 and the major inland port. FedEx is the largest employer here, with the city serving as the company’s global hub.

Corporate offices are primarily concentrated in downtown Memphis, offering great views of the Mississippi River for a relatively affordable cost. Its central business area contains multiple high-tier properties, such as the Toyota Center and One Memphis Place. Other important commercial real estate markets in Memphis are Midtown Memphis — with neighborhoods like Central Gardens and Cooper-Young that are chock full of classic architecture — and the Medical District with its high density of medical office space and laboratories.

Memphis, TN Commercial Inventory Breakdown

In 2023 the Memphis, TN commercial real estate market totaled 29,919,546 square feet of office spaces, 19,984,751 square feet of office spaces with retail, and 161,222,048 square feet of industrial space.

Office Spaces

Total: 29,919,546 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail
By square footage range:
50k to 100k SqFt 8,284,358 SqFt 27.69% of total office
100k to 500k SqFt 16,805,097 SqFt 56.17% of total office
500k to 1M SqFt 2,730,091 SqFt 9.12% of total office
> 1M SqFt 2,100,000 SqFt 7.02% of total office
By class:
Class A 9,853,225 SqFt 32.93% of total office
Class B 16,159,088 SqFt 54.01% of total office
Class C 1,943,933 SqFt 6.5% of total office
Roughly 9.12% of the total office space in Memphis, TN is comprised of properties between 500K to 1M square feet, and buildings between 50k to 100k square feet represent 27.69% of the office inventory.

Class A office space holds a 32.93% share of the overall Memphis, TN office market, while Class B office assets make up approximately 54.01%.

Industrial

Total: 161,222,048 SF

Data provided by Yardi Matrix, properties over 50k SF
By square footage range:
50k to 100k SqFt 19,059,835 SqFt 11.82% of total industrial
100k to 500k SqFt 77,691,897 SqFt 48.19% of total industrial
500k to 1M SqFt 38,011,272 SqFt 23.58% of total industrial
> 1M SqFt 26,459,044 SqFt 16.41% of total industrial
By class:
Class A 66,473,804 SqFt 41.23% of total industrial
Class B 80,994,578 SqFt 50.24% of total industrial
Class C 9,178,986 SqFt 5.69% of total industrial
There are 77,691,897 square feet of commercial real estate properties between 100k to 500k square feet, representing 48.19% of the Memphis, TN industrial inventory. Class A assets total 66,473,804 square feet of industrial space, with an additional 80,994,578 square feet of Class B and 9,178,986 square feet of Class C properties.

Office Spaces with Retail

Total: 19,984,751 SF

Data provided by Yardi Matrix, properties over 50k SF
By square footage range:
50k to 100k SqFt 3,841,917 SqFt 19.22% of total office with retail
100k to 500k SqFt 14,705,444 SqFt 73.58% of total office with retail
500k to 1M SqFt 1,437,390 SqFt 7.19% of total office with retail

Memphis, TN Currently Available Listings & Spaces

Number of Available Listings
City Property Type Count of listings Total SF
Memphis, TN Office 166 4,039,321
Memphis, TN Retail 152 1,794,405
Memphis, TN Industrial 143 12,054,449
Memphis, TN Other 563 17,926,238
Ofice Icon

166

Office

Industrial Icon

143

Industrial

Retail Icon

152

Retail

Current local active listing encompass 35,814,413 square feet of commercial space for lease in Memphis. There are 166 active office listings, which amount to 4,039,321 square feet and account for 16% of commercial spaces on the market. Local retail availability includes 1,794,405 square feet across 152 listings. Current industrial offerings on the market amount to 12,054,449 square feet across a total of 143.

Employment in Memphis, TN

Employed Population 297,579

Employed population - Industry % Distribution

Management, business, science, and arts occupations

31%

Sales and office occupations

23%

Production, transportation, and material moving occupations

21%

Service occupations

18%

Natural resources, construction, and maintenance occupations

6%

In 2021, roughly 31% of a total of 297,579 employed in Memphis worked in Management, business, science, and arts occupations, followed by 23% in Sales and office occupations and 21% in Production, transportation, and material moving occupations.

Income per capita $27,224  Median household income $43,794

Household income

56%

Under $50k

27%

$50k - $100k

13%

$100k - $200k

5%

Over $200k

The median household income in Memphis stands at $43,794, with per capita income at $27,224. Households earning between $50k and $100k represent 27% of the total, while those earning over $200k make up 5%. Approximately 56% of Memphis households earn less than $50k per year.

Commuting in Memphis, TN

Mean travel time to work 22 minutes

Means of transportation to work

82.60%

Driving alone

10.60%

Carpool

0.50%

Public transit

0.20%

Bicycle

2.10%

Walking

1.00%

Other

3.00%

Work at Home

*Universe: Workers 16 and over

Education in Memphis, TN

High school grad or higher 86%

Bachelor's degree or higher 26%

Population by minimum level of education

14%

No degree

32%

High school

29%

Some College

15%

Bachelor's

10%

Post-grad

*Universe: Workers 25 and over

An estimated 86% of Memphis residents aged 25 or over hold a high school degree or higher. Of those, 32% are high school graduates, 29% attended some college, 15% earned a bachelor's degree, with an additional 10% holding post-graduate degrees.

Memphis, TN Demographics

As of 2021, Memphis had a total population of 651,088, with a median age of 34.60 years. Roughly 65.50% of the total population was between the ages of 16 and 64 years old.

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