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Property profile & analytics
OFF-MARKET Estimated value $70,000
Garden apartment buildings

12 Fairway Ave Memphis, TN 38109-8221

67,049 SF 25.91 ac lot Built 2014
Entity Owned 2-yr Hold ~ Est. High Equity
Property ID
US80-1556252
Property profile
Verified
Property type Garden apartment buildings
Use group GARDEN APT, COURT APT (5+ UNITS)
Year built 2014
Total area 67,049 SF
Lot 25.91 ac (1,128,727 SF)
Zoning code RU-3
APN 075-074- - -00041-C
UPID US80-1556252
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
  • Fairway Manor Senior Living Community Center
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$5.96M
Blend (final) Blend
$70k
Owner & transaction history
Brickstax Partners I LP · 2 yrs held
Brickstax Partners I LP
since 2024
2 recorded transactions
2024
$915,000
2012
$119,600
Zoning & alternative use
RU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Housing Type RU-1 RU-2 RU-3 RU-4 RU-5 Conventional Side Yard House Cottage ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- -- Semi-Attached Two-Family Townhouse ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- ■ Large Home Stacked Townhouse Apartment   -- ■ ■ -- ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ = Permitted -- = not permitted  = permitted by Special Use Permit Building Regulations for Permitted Housing…

Zone name Residential Urban 3
General category RESIDENTIAL
Zone area 7,600.37 ac
Source CHAPTER 1
Top alternative use upside
Auto repair, garage $6.5M +9.0%
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