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Property profile & analytics
OFF-MARKET
Estimated value
$3,775,000
Warehouses
1531 Corporate Ave Memphis, TN 38132
Trust Owned
9-yr Hold
~
Est. High Equity
Property ID
US80-3537306
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1973
Total area
58,278 SF
Lot
20.76 ac (904,523 SF)
Zoning code
EMP
APN
060-222- - -00151
UPID
US80-3537306
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
$3.61M
Blend (final)
Blend
$3.78M
Owner & transaction history
Remark Trust LLC · 9 yrs held
Remark Trust LLC
since 2016
7 recorded transactions
Zoning & alternative use
EMP · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.7M
+147.6%
Apartment house (5+ units)
$5.2M
+127.2%
Retail stores
$4.8M
+111.9%
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
WAREHOUSE, STORAGE
$2,280,000
Current use
AUTO REPAIR, GARAGE
$5,650,000
Change: +148% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$5,185,000
Change: +127% · Conversion: Difficult
RETAIL STORES
$4,835,000
Change: +112% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$4,280,000
Change: +88% · Conversion: Moderate
Blend value · Realmo final
$3.78M
Range $3.40M – $4.15M · ±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
$65 / 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
$189,153
Tax year 2022
Assessed value
$3,105,120
Assessed 2023
Previous assessed
$3,105,120
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$255,520
Assessed improvement
$2,849,600
Land market value
$638,800
Improvement market value
$7,124,000
Total market value
$7,762,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1973
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
5
Stories
1
Total area
58,278 SF
Lot
20.76 ac (904,523 SF)
Zoning code
EMP
APN
060-222- - -00151
UPID
US80-3537306
Jurisdiction
SHELBY
Zoning & alternative use
EMP · Memphis, TN
Zoning EMP · permitted uses
EMP · 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
WAREHOUSE, STORAGE Current
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$5.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.2M
RETAIL STORES
Est. value
$4.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.3M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1973
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
5
Lot
20.76 ac
Current owner
From public records · entity-resolved
Remark Trust LLC
Trust
Mailing address
1161 E 21ST ST, BROOKLYN, NY 11210-3617
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 24, 2020
—
Remark Trust LLC
—
Deed
related
$52,000,000 · Bellco Cu
Sep 18, 2017
—
Remark Trust LLC
—
Deed
related
$48,285 · Bellco Cu
Aug 30, 2016
$57,000,000
Remark Trust LLC
Nonconnah Holdings LLC
Grant Deed
$42,750,000 · Bellco Cu
Mar 9, 2007
$30,632,144
Nonconnah Holdings LLC
Crt-sfv LLC
Grant Deed
related
—
Sep 17, 2004
—
Crt-sfv LLC
—
Deed Of Trust
related
$91,000,000 · Gmac Commercial Mortgage Corp
Jun 1, 2001
$27,955,000
Crt Sfv LLC
Crocker Realty Trust LP
Quit Claim Deed
related
$65,500,000 · Column Financial INC
Dec 4, 1998
$57,025,000
Crocker Realty Trust LP
Amberjack Ltd INC
Trustees Deed
—
Dec 4, 1998
—
Crocker Realty Trust LP
Amberjack Ltd INC
Deed Of Trust
related
$50,000,000 · Bankboston NA
—
—
Remark Trust LLC
—
Loan Modification
related
$48,285 · Bellco Cu
—
—
Remark Trust LLC
—
Deed Of Trust
related
$52,000,000 · Bellco Cu
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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