Prospero Place
Price
Price on request
Price/Sq Ft
$20.50
Description
Historic Class A Office Space Available Building Renovated in 2021. Completely modern amenities and finishes.
Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.
Financial Details
Market Context
As of Q1 2026, the Memphis office market showed a 6.0% vacancy rate, average asking rents near $55.08/SF/yr, and rents up 0.4% year over year. Source: CBRE Q1 2026 market report.
Projected current pricing
indicative confidenceModeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Memphis office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q1 2026 asking-rent data (benchmark cap rate 6.6%–8.6%, asking rent trend-adjusted to today).
Tight vacancy keeps competition for quality space elevated.
Compare it against other office listings for lease in Memphis, TN to benchmark pricing and space — view the full market.
Office market FAQ
- Is the Memphis office market tightening or softening?
- Vacancy is around 6.0% (Q1 2026).
Unified Estimate
Medium ConfidenceRate-first confidence-weighted blend with cost-of-business adjustment.
Lease Rate & Market Trend
Market report quarterly trend fallback
- Avg Rent ($/SF/mo) (market data)
- Vacancy %
Investment Analysis
Beta Feature: Investment Analysis is currently in beta testing. Metrics are calculated based on available financial data and market comparables. Results are for informational purposes and should not be considered financial advice. Verify all assumptions and consult with a financial advisor before making investment decisions.
Market Employment Trend
December 2025 • Source: BLS QCEW
Economic Indicators
Source: FRED
Market Demographics
Census ACS 20242024 American Community Survey 5-Year Estimates •Released annually by U.S. Census Bureau
Rent vs. Market
$20.5
On par with market
Listed at $20.5/sqft/mo vs. market avg $20.00/sqft/mo
Assumptions
- Market comparison: office in memphis, TN
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