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Property profile & analytics
OFF-MARKET Estimated value $460,000
Medical Office Space

1391 Madison Ave Memphis, TN 38104-2326

24,168 SF 0.55 ac lot Built 1952
Individually Owned 11-yr Hold Absentee Owner Free & Clear
Property ID
US80-0504517
Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1952
Total area 24,168 SF
Lot 0.55 ac (24,089 SF)
Zoning code CMU-3
APN 017-014- - -00008-C
UPID US80-0504517
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
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$460k
Owner & transaction history
American National Red Cross · 11 yrs held
American National Red Cross
since 2015
3 recorded transactions
2015
Price N/A
2013
Price N/A
2010
$700,000
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
Top alternative use upside
Restaurant $3.9M +12.2%
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