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Property profile & analytics
OFF-MARKET
Estimated value
$2,100,000
Garden apartment buildings
123 Bingham St Memphis, TN 38112-3803
Entity Owned
2-yr Hold
Property ID
US80-3317663
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1965
Total area
12,000 SF
Lot
0.79 ac (34,282 SF)
Zoning code
RU-3
APN
033-030- - -00009-C
UPID
US80-3317663
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.08M
CAP Approach
CAP
$1.38M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.10M
Owner & transaction history
Milia Apartments LLC · 2 yrs held
Milia Apartments LLC
since 2023
Last sale
$2.1M
7 recorded transactions
Zoning & alternative use
RU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.7M
+26.4%
Office building
$1.4M
+5.4%
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
$2,050,000
ML approach
$2,080,000
CAP Approach
CAP Return
Estimation
6%
$1,495,000
6.5%
$1,380,000
7%
$1,280,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,360,000
Current use
MEDICAL BUILDING
$1,715,000
Change: +26% · Conversion: Moderate
OFFICE BUILDING
$1,430,000
Change: +5% · Conversion: Moderate
Blend value · Realmo final
$2.10M
Range $1.89M – $2.31M · ±10% · vs last sale $2.13M (Sep 1 2023)
Last sale anchor
$2.13M
Sep 1 2023
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
$175 / 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
$5,587
Tax year 2022
Assessed value
$91,720
Assessed 2023
Previous assessed
$91,720
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$28,840
Assessed improvement
$62,880
Land market value
$72,100
Improvement market value
$157,200
Total market value
$229,300
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1965
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
16
Bathrooms
3
Total area
12,000 SF
Lot
0.79 ac (34,282 SF)
Zoning code
RU-3
APN
033-030- - -00009-C
UPID
US80-3317663
Jurisdiction
SHELBY
Zoning & alternative use
RU-3 · Memphis, TN
Zoning RU-3 · permitted uses
RU-3 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
OFFICE BUILDING
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
1965
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
16
Bathrooms
3
Lot
0.79 ac
Current owner
From public records · entity-resolved
Milia Apartments LLC
Entity
Mailing address
50845 SAVANNAH PKWY, SOUTHAVEN, MS 38672
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
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 1, 2023
—
Milia Apartments LLC
Milia LLC
Quit Claim Deed
related
$1,440,000 · Silver Hill Financial LLC
Mar 3, 2022
$2,130,000
Milia LLC
Tonga Properties LLC
Warranty Deed
$1,597,500 · Conventus LLC
Dec 27, 2017
—
Tonga Properties LLC
—
Deed
related
$386,206 · Sycamore Bk
Dec 14, 2016
—
Tonga Properties LLC
—
Trustees Deed
related
$382,446 · Sycamore Bk
Oct 25, 2016
$100,000
Tonga Properties LLC
Gaetos,ben & Velia
Warranty Deed
—
Sep 2, 2014
$347,000
Ben Gaetos
Byrd Property Co
Grant Deed
$200,000 · Byrd Property Co
Feb 24, 2014
—
Byrd Property Co
Byrd & Taylor Properties
Quit Claim Deed
related
—
Jul 17, 2013
—
Byrd Properties
T Redd Properties
Quit Claim Deed
related
—
Dec 2, 2011
—
T Redd Properties
Byrd,c L JR
Quit Claim Deed
related
—
Nov 16, 2011
$25,853
C L Byrd JR.
Clerk & Master Of Shelby Cnty
Tax Deed
—
Jun 16, 2008
$660,000
Datasoft International INC
Taddese,eskinder
Warranty Deed
—
Sep 28, 2007
$81,000
Datasoft International INC
Taddese,eskinder
Quit Claim Deed
related
$81,000 · Eskinder Taddese
—
—
Bert A Less
—
Deed Of Trust
related
$200,000 · Commercial Bank & Trust
—
—
Tonga Properties LLC
—
Deed Of Trust
related
$386,206 · Sycamore Bk
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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