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Property profile & analytics
OFF-MARKET
Estimated value
$19,555,000
Hotels
149 Un Ave Memphis, TN 38103-2638
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-1716368
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1928
Total area
435,239 SF
Lot
1.82 ac (79,192 SF)
Zoning code
SE
APN
002-051- -A-00001
UPID
US80-1716368
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
-
Memphis Infrared Sauna Wholesaler Corporate Office
-
Lansky at The Peabody Clothing Store Men'S Clothing Store
-
The Corner Bar at The Peabody Memphis Nightclub Bar & Pub
-
The Peabody Memphis Hotel & Motel
-
Capriccio Grill Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$19.56M
Owner & transaction history
Larry L Wells · 1 yrs held
Larry L Wells
since 2025
2 recorded transactions
Zoning & alternative use
SE · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$32.0M
+7.8%
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
HOTEL/MOTEL
$29,630,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$31,950,000
Change: +8% · Conversion: Difficult
RETAIL STORES
$26,430,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$19.56M
Range $17.60M – $21.51M · ±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
$45 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$1,271,796
Tax year 2021
Land market value
$1,984,900
Improvement market value
$56,097,600
Total market value
$58,082,500
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1928
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
10
Total area
435,239 SF
Lot
1.82 ac (79,192 SF)
Zoning code
SE
APN
002-051- -A-00001
UPID
US80-1716368
Jurisdiction
SHELBY
Zoning & alternative use
SE · Memphis, TN
Zoning SE · permitted uses
SE · 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
HOTEL/MOTEL Current
Est. value
$29.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$32.0M
RETAIL STORES
Est. value
$26.4M
HOTEL/MOTEL Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1928
Heating
FORCED AIR
Cooling
Yes
Stories
10
Buildings
2
Lot
1.82 ac
Current owner
From public records · entity-resolved
Larry L Wells
Individual
Free & Clear · 1 yrs held
Mailing address
114 N MAIN ST, MEMPHIS, TN 38103-2003
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 25, 2025
—
Larry L Wells
Larry L Wells
Deed
related
—
Dec 11, 2024
$1,830,000
Memphis Peony Investments LLC
Whitestone Real Estate Fund III LP
Warranty Deed
—
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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