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Property profile & analytics
OFF-MARKET
Estimated value
$1,530,000
Industrial properties
1532 2nd Pl Memphis, TN 38116-3510
Entity Owned
4-yr Hold
Free & Clear
Property ID
US80-2895002
Property summary
AI-generated overview
This exceptional 50,000-square-foot warehouse, located at 1532 Two Place, Memphis, TN 38116, presents a significant leasing opportunity. Built in 1977 and extensively renovated in 2023, this single-tenant industrial property offers 20,000 square feet of immediately available space. The building boasts a 22-foot ceiling height, providing ample vertical storage capacity. Logistics are simplified with four loading docks, four dock-high doors, and one drive-in door, ensuring efficient handling of goods. Three-phase power is readily available. The property features convenient frontage on Two Place, and its location in Shelby County offers easy access to Brooks Road. Zoned for commercial/industrial use, this warehouse is perfectly suited for a variety of businesses. The property's strategic location provides seamless connectivity to major transportation arteries, including interstates I-55 and I-240, and Memphis International Airport. This move-in ready space eliminates the need for costly renovations, allowing for immediate occupancy and operational efficiency.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1977
Total area
50,252 SF
Lot
2.03 ac (88,470 SF)
Zoning code
EMP
APN
078-003- -A-00073
UPID
US80-2895002
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
$1.56M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$1.53M
Owner & transaction history
4919 Windplay Drive LLC · 4 yrs held
4919 Windplay Drive LLC
since 2022
Last sale
$1.8M
3 recorded transactions
Zoning & alternative use
EMP · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,430,000
ML approach
$1,555,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,065,000
Current use
Blend value · Realmo final
$1.53M
Range $1.38M – $1.68M · ±10% · vs last sale $1.80M (Feb 22 2022)
Last sale anchor
$1.80M
Feb 22 2022
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
$30 / 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
$17,344
Tax year 2022
Assessed value
$284,720
Assessed 2023
Previous assessed
$284,720
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$35,160
Assessed improvement
$249,560
Land market value
$87,900
Improvement market value
$623,900
Total market value
$711,800
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
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
Off-Market
Year built
1977
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
50,252 SF
Lot
2.03 ac (88,470 SF)
Zoning code
EMP
APN
078-003- -A-00073
UPID
US80-2895002
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
INDUSTRIAL (GENERAL) Current
Est. value
$2.1M
INDUSTRIAL (GENERAL) Current
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
1977
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.03 ac
Current owner
From public records · entity-resolved
4919 Windplay Drive LLC
Entity
Free & Clear · 4 yrs held
Mailing address
12061 MACON RD, COLLIERVILLE, TN 38017-4825
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 22, 2022
$1,800,000
4919 Windplay Drive LLC
R Joyce Nussbaum
Warranty Deed
—
Feb 9, 2022
—
R Joyce Nussbaum
Nussbaum Properties
Correction Deed
related
—
Jan 26, 2021
—
The 082548 Trusts
Nussabaum Properties
Quit Claim Deed
related
—
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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