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Property profile & analytics
OFF-MARKET Estimated value $650,000
Medical Office Space

1183 Madison Ave Memphis, TN 38104-2202

4,179 SF 0.19 ac lot Built 1958
Individually Owned 2-yr Hold Free & Clear
Property ID
US80-0973736
Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1958
Total area 4,179 SF
Lot 0.19 ac (8,494 SF)
Zoning code CMU-3
APN 018-072- - -00010
UPID US80-0973736
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
  • Alpha Omega Veterans Services, Inc. Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$650k
CAP Approach CAP
by Request
Comparable Approach Comparable
$598k
Blend (final) Blend
$650k
Owner & transaction history
Southern College Of Optometry · 2 yrs held
Southern College Of Optometry
since 2024
Last sale
$650,000
3 recorded transactions
2024
$650,000
1999
$215,000
1969
Price N/A
Zoning & alternative use
CMU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

3. Commercial Mixed Use - 3 (CMU-3) The CMU -3 District is intended to accommodate a very broad range of high intensity commercial, office and employment uses that require highly visible and highly accessible locations with direct access to arterials. Residential uses are allowed on the ground floor but upper -story units are encouraged. Typical uses in this…

Zone name Commercial Mixed Use 3
General category MIXED_USE
Zone area 4,582.25 ac
Source CHAPTER 1
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