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Property profile & analytics
OFF-MARKET
Estimated value
$3,205,000
Warehouses
1045 Jefferson Ave Memphis, TN 38104-2128
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US80-0693647
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1964
Total area
47,832 SF
Lot
0.99 ac (42,994 SF)
Zoning code
RU-4
APN
018-062- - -00004-C
UPID
US80-0693647
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
-
Medical Center Self Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.96M
Blend (final)
Blend
$3.21M
Owner & transaction history
Gateway Apartments LP · 3 yrs held
Gateway Apartments LP
since 2023
3 recorded transactions
Zoning & alternative use
RU-4 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.6M
+147.6%
Apartment house (5+ units)
$4.2M
+123.0%
Neighborhood: shopping center
$3.5M
+87.5%
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
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$4,635,000
Change: +148% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$4,175,000
Change: +123% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,510,000
Change: +88% · Conversion: Moderate
Blend value · Realmo final
$3.21M
Range $2.88M – $3.53M · ±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
$67 / 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
$43,938
Tax year 2022
Assessed value
$721,280
Assessed 2023
Effective rate
6.09%
On assessed value
Assessed land
$157,800
Assessed improvement
$563,480
Land market value
$394,500
Improvement market value
$1,408,700
Total market value
$1,803,200
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1964
Heating
NONE
Cooling
NONE
Stories
1
Total area
47,832 SF
Lot
0.99 ac (42,994 SF)
Zoning code
RU-4
APN
018-062- - -00004-C
UPID
US80-0693647
Jurisdiction
SHELBY
Zoning & alternative use
RU-4 · Memphis, TN
Zoning RU-4 · permitted uses
RU-4 · 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.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$4.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.5M
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1964
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.99 ac
Current owner
From public records · entity-resolved
Gateway Apartments LP
Entity
Mailing address
613 BIG LK RD, MARION, AR 72364-2655
Ownership since
2023
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
Jan 4, 2023
$1,000
Gateway Apartments LP
Memphis Center City Revenue Finance
Quit Claim Deed
related
—
Oct 23, 2018
—
Axon LLC
—
Grant Deed
related
$5,727,000 · Other Institutional Lenders
Apr 26, 2017
—
Axon LLC
Memphis Medical Redev Group Ll
Quit Claim Deed
related
—
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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