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Property profile & analytics
OFF-MARKET
Estimated value
$1,420,000
Office buildings
777 Main St Memphis, TN 38106-1790
Individually Owned
9-yr Hold
Free & Clear
Property ID
US80-2801871
Property summary
AI-generated overview
This exceptional mixed-use development opportunity is located at 777 S Main St, Memphis, TN 38106, in Shelby County. The property boasts a substantial 29,952 square feet of space, situated on a 0.08-acre lot. The asking price is $1,650,000, translating to a price per square foot of $55.09. The property consists of one building and features a large 105ft x 127ft parking lot with a capacity of 37 vehicles. The permitted zoning is SMSD, presenting a versatile canvas for residential or mixed-use development projects. This prime South Main Street location offers significant potential for investors seeking to capitalize on the vibrant Memphis market. The property's APN is 012074 00006 and 012074 00007. This is a rare chance to acquire a substantial property in a high-demand area, ready for redevelopment to suit a variety of uses. The scale of the lot and existing building provides ample space for a creative and profitable venture. Don't miss this opportunity to shape the future of this dynamic Memphis location.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1943
Total area
29,952 SF
Lot
0.05 ac (2,178 SF)
Zoning code
SDBP
APN
012-074- - -00006
UPID
US80-2801871
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
The Threat Response Training Group Training Center Sports School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.89M
Blend (final)
Blend
$1.42M
Owner & transaction history
Charles W Shoffner · 9 yrs held
Charles W Shoffner
since 2017
3 recorded transactions
Zoning & alternative use
SDBP · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Memphis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Memphis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.42M
Range $1.28M – $1.56M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$47 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$19,515
Tax year 2022
Assessed value
$320,360
Assessed 2023
Previous assessed
$320,360
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$6,960
Assessed improvement
$313,400
Land market value
$17,400
Improvement market value
$783,500
Total market value
$800,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1943
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
29,952 SF
Lot
0.05 ac (2,178 SF)
Zoning code
SDBP
APN
012-074- - -00006
UPID
US80-2801871
Jurisdiction
SHELBY
Zoning & alternative use
SDBP · Memphis, TN
Zoning SDBP · permitted uses
SDBP · Memphis, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Memphis. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1943
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
Charles W Shoffner
Individual
Free & Clear · 9 yrs held
Mailing address
612 S MAIN ST, MEMPHIS, TN 38103-4812
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 20, 2017
$480,000
Charles W Shoffner
Kourdouvelis,kris
Warranty Deed
—
Aug 30, 2007
$375,000
Kris Kourdouvelis
777 S Main Street LLC
Grant Deed
—
Dec 5, 2005
$375,000
Kris Kourdonvelis
777 S Main Street LLC
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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