Buying In Memphis, TN
Sell Your Commercial Property Fast In Memphis, TN
Sell your Memphis apartment building fast and as-is. We buy commercial properties of 5+ units across Shelby County in any condition, with no repairs, no showings and clear feedback, typically within 48 hours.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Where We Look: Midtown · Cordova · Bartlett · Germantown — Shelby County, TN
The Memphis Market
What Drives Rentals In Memphis
Memphis is a majority-renter city. Renters occupy 55.1% of its 253,120 occupied homes, per the Census Bureau's ACS 2020-2024, against 33.1% for Tennessee. Median gross rent is $1,181 a month, and 25.5% of Memphis housing units sit in buildings of five or more units.
If you plan to sell commercial property in Memphis, TN, buyers will price two local tax facts first. Tennessee assesses buildings with two or more rental units at 40% of appraised value. Shelby County and City of Memphis 2026 rates total $5.283192 per $100 of assessed value.
Owners who sell multifamily property in Memphis should also know how local prices compare. Memphis's median owner-occupied home value is $169,000, 41.1% below Tennessee's $286,700. Rents, by contrast, sit near the state median.
This profile covers who rents in Memphis, HUD FY2027 rents, apartment stock and Shelby County taxes. It closes with Tennessee landlord rules and what they mean for a sale.
FedEx Memphis World Hub
FedEx's Memphis World Hub employs 13,000 team members on 940 acres. It can handle 484,000 packages per hour, per a FedEx newsroom release dated October 30, 2024.St. Jude campus investment
St. Jude Children's Research Hospital's 2022-27 strategic plan commits $12.9 billion, including $2.3 billion for construction, renovation and capital needs, and supports 2,300 additional jobs.Low prices relative to rents
Memphis's median owner-occupied home value of $169,000 is 41.1% below Tennessee's $286,700. Its $1,181 median gross rent sits within $8 of the state's, per ACS 2020-2024.Our Buy Box
What We Buy In Memphis
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Memphis Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Memphis
Renters occupy 55.1% of occupied homes in Memphis, per ACS 2020-2024 table B25003. That is 139,512 renter households out of 253,120 occupied homes. Tennessee's renter share is 33.1% in the same survey.
Shelby County counts 166,362 renter households in ACS 2020-2024, so Memphis holds 83.9% of them. Memphis has 618,980 residents, per table B01003.
Median household income in Memphis is $51,736 in ACS 2020-2024, per table B19013. Tennessee's median is $69,595, so Memphis households earn 25.7% less.
Two Memphis employers stand out. FedEx's Memphis World Hub employs 13,000 team members on 940 acres, per a FedEx release of October 30, 2024. St. Jude Children's Research Hospital's 2022-27 plan commits $12.9 billion and supports 2,300 additional jobs, per St. Jude.
Rents and affordability in Memphis
Median gross rent in Memphis is $1,181 a month in ACS 2020-2024, per table B25064. Shelby County's median is $1,232 and Tennessee's is $1,189 in the same survey.
A median Memphis rent equals $14,172 a year, or 27.4% of the $51,736 median household income. In Memphis, 51.8% of renter households pay 30% or more of income on rent, per table B25070. Another 27.5% pay 50% or more.
HUD places Shelby County in the Memphis, TN-MS-AR HUD Metro FMR Area. HUD's FY2027 fair market rents took effect October 1, 2026, per HUD fair market rent data.
| Unit size | HUD FY2027 FMR, monthly |
|---|---|
| Efficiency | $1,095 |
| One bedroom | $1,191 |
| Two bedroom | $1,301 |
| Three bedroom | $1,717 |
| Four bedroom | $1,981 |
HUD's FY2027 two-bedroom rent of $1,301 sits $120 above the $1,181 ACS median gross rent. Owners preparing to sell commercial real estate in Memphis, TN can expect buyers to compare in-place rents with that HUD figure.
Apartment stock in Memphis
Memphis has 73,975 homes in buildings of five or more units, per ACS 2020-2024 table B25024. That is 25.5% of its 289,887 housing units. Tennessee's five-plus share is 14.1%.
Buildings of 5 to 9 units hold 28,444 Memphis homes, the largest group. Buildings of 10 to 19 units hold 20,194, and buildings of 20 to 49 hold 7,014. Buildings of 50 or more units hold 18,323.
In Memphis, 67.0% of housing was built before 1980, per table B25034. The median year built is 1970, per table B25035. Only 13,325 units, or 4.6%, date from 2010 or later.
Rental vacancy in Memphis is 8.1% in ACS 2020-2024 profile table DP04. Shelby County's rental vacancy rate is 7.9% in the same table.
Memphis's median owner-occupied home value is $169,000 in ACS 2020-2024, per table B25077. Tennessee's is $286,700, so Memphis values run 41.1% lower. Memphis median rent of $1,181 sits within $8 of Tennessee's $1,189.
Property taxes in Shelby County
Memphis apartment buildings are assessed at 40% of appraised value. The Tennessee Comptroller classes dwelling property with two or more rental units as industrial and commercial property, assessed at 40%. Residential property is assessed at 25%.
Shelby County's 2026 tax rate is $2.702382 per $100 of assessed value, per the Shelby County Trustee. The 2026 City of Memphis rate is $2.58081, per the Trustee's Memphis rate history. Together they total $5.283192 per $100 inside Memphis.
Shelby County's rate fell from $3.39 in tax year 2024 to $2.69 in 2025, per the Trustee. Bartlett and Germantown are separate cities with their own rates on top of Shelby County's. Their 2025 city rates were $1.66 and $1.79, per the Tennessee Comptroller.
Here is a worked example for a Memphis building appraised at $2,000,000. It uses the 40% ratio and 2026 Trustee rates.
- Assessed value: $2,000,000 x 40% = $800,000.
- Shelby County: $800,000 x 2.702382 / 100 = $21,619.06.
- City of Memphis: $800,000 x 2.58081 / 100 = $20,646.48.
- Total 2026 tax: $42,265.54 a year, or 2.11% of appraised value.
Shelby County accepted 2026 assessment appeals from May 1 through June 30, 2026, per the County Board of Equalization. City of Memphis tax bills become delinquent after August 31, per the City of Memphis.
Tennessee's realty transfer tax is $0.37 per $100 of value or consideration, per the Department of Revenue. The grantee pays it to the county Register of Deeds, per the same department. On a $2,000,000 sale the tax is $7,400. When you sell commercial property in Memphis, TN, that cost falls on the buyer as grantee.
Landlord rules for Memphis owners
Tennessee's Uniform Residential Landlord and Tenant Act covers Memphis leases. Under T.C.A. 66-28-102(a), it applies in counties above 75,000 people in the 2010 federal census. Shelby County counted 927,644 residents in the 2010 Census.
Section 66-28-102(e) says the Act occupies and preempts the entire field of landlord-tenant regulation in covered counties. Separately, T.C.A. 66-35-102 bars local governments from controlling the rent charged for private residential or commercial property.
T.C.A. 66-28-301 sets no cap on security deposits. Deposits must sit in an account used only for that purpose at a regulated bank, and tenants must be told where. A landlord who fails both to use that account and to provide a damage listing cannot keep any part of the deposit.
Physical damage claims must be found within 30 days after the tenant leaves or 7 days after a new tenant moves in, whichever comes first. If a refund notice draws no tenant response within 60 days, the landlord may keep the deposit.
For unpaid rent, T.C.A. 66-28-505 ends the lease if the tenant does not pay within 14 days of written notice. A repeat breach within six months needs only 7 days' written notice. Month-to-month tenancies end on 30 days' written notice under 66-28-512, and week-to-week tenancies on 10 days.
Buyers reviewing a Memphis rent roll ask for deposit account records and copies of notices served. Having those files ready speeds up selling commercial property in Memphis.
What it means for a Memphis apartment owner
Memphis pairs a 55.1% renter share with a 40% assessment ratio on rental buildings. The 2026 combined Shelby County and Memphis rate is $5.283192 per $100.
Skyline Capital Investments buys 5+ unit apartment buildings across Memphis, including Midtown and Cordova, and in Bartlett and Germantown. If you plan to sell your apartment building in Memphis, test value with our cap rate calculator against the $42,265.54 tax example above.
Owners ready to sell commercial property in Memphis, TN can request an offer through our sell my apartment building page. Send the address, unit count and current rent roll.
Seller Notes
Memphis Seller Checklist
More about selling in Tennessee →Investing in Memphis? See apartment syndications in Memphis →
- Tennessee assesses Memphis buildings with two or more rental units at 40% of appraised value, not the 25% ratio used for residential property.
- Anyone who wants to sell commercial real estate in Memphis, TN should know the buyer, as grantee, pays Tennessee's $0.37 per $100 transfer tax.
- In Memphis, 67.0% of housing units were built before 1980 and the median year built is 1970, per ACS 2020-2024 tables B25034 and B25035.
- Shelby County accepted 2026 assessment appeals from May 1 through June 30, 2026, per the Shelby County Board of Equalization brochure.
Seller Guides
Selling In Memphis? Common Situations We Handle
Learn More
Taxes & Rules For Memphis Property
The Tennessee rules that shape any deal in Memphis: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Memphis Seller FAQ
How do I sell commercial property in Memphis, TN without listing it?
Send the address, unit count and a current rent roll to Skyline Capital Investments. We buy 5+ unit apartment buildings across Memphis as they stand, so repairs or lease-up are not needed first. Our offer reflects in-place rents and Tennessee's 40% assessment ratio on rental buildings. It also reflects the 2026 combined Shelby County and Memphis rate of $5.283192 per $100 of assessed value.
What are property taxes on a $2 million apartment building in Memphis?
Tennessee assesses property with two or more rental units at 40% of appraised value, so a $2,000,000 building is assessed at $800,000. The 2026 Shelby County rate is $2.702382 per $100 and the City of Memphis rate is $2.58081, per the Shelby County Trustee. Together that is about $42,265.54 a year, or 2.11% of appraised value.
Does Memphis have rent control?
No. T.C.A. 66-35-102 bars any local government from enacting or keeping a measure that controls the rent charged for private residential or commercial property. T.C.A. 66-28-102(e) also says the Uniform Residential Landlord and Tenant Act preempts the entire field of landlord-tenant regulation in covered counties. Shelby County is covered because it had 927,644 residents in the 2010 Census.
What closing taxes apply when I sell commercial real estate in Memphis, TN?
Tennessee's realty transfer tax is $0.37 per $100 of value or consideration, whichever is greater. On a $2,000,000 sale that is $7,400, and the grantee pays it to the county Register of Deeds. Tennessee also taxes recorded mortgage debt at $0.115 per $100, with the first $2,000 exempt, per the Tennessee Department of Revenue.
How fast can I end a Memphis lease for unpaid rent?
Under T.C.A. 66-28-505, the lease ends if the tenant does not pay within 14 days after receiving written notice. If the same breach recurs within six months, 7 days' written notice is enough. Month-to-month tenancies end on 30 days' written notice under T.C.A. 66-28-512. Keep copies of every notice and proof of how it was delivered.
Are Memphis property prices low compared with rents?
By Census measures, yes. The median owner-occupied home value in Memphis is $169,000 in ACS 2020-2024, 41.1% below Tennessee's $286,700. Memphis median gross rent is $1,181, close to the state's $1,189. Owners who sell multifamily property in Memphis should expect buyers to weigh that gap against a 51.8% rent-burden rate and 8.1% rental vacancy.
What if my Memphis building has vacancies or deferred maintenance?
That is often where we add the most value. We buy buildings that need renovation, new management, or lease-up, and we account for that in our offer.
How does a sale to you work in Shelby County?
Send the address, unit count, and any financials. We give feedback, then a written letter of intent if it fits, followed by diligence and a closing date that works for you.
Can I sell rental property in Memphis with tenants in place?
Yes. We buy apartment buildings with tenants in place and keep existing leases intact. As a commercial real estate buyer focused on 5+ unit properties, we underwrite the current rent roll as it stands.
What do I need to sell my apartment building in Memphis?
An address and unit count are enough to start. A current rent roll and trailing twelve-month statement let us move to a written offer faster.
Submit A Deal
Selling A Building In Memphis?
A few details are enough to start. We respond to every Memphis submission, including off-market and pocket listings.
