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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Industrial properties
1555 3rd Pl Memphis, TN 38116-3507
Entity Owned
~
Est. High Equity
Property ID
US80-1957960
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1974
Total area
15,360 SF
Lot
2.96 ac (129,112 SF)
Zoning code
EMP
APN
078-003- -A-00054
UPID
US80-1957960
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
-
Barrow-Agee Laboratories, LLC Laboratory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$625k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$722k
Blend (final)
Blend
$690k
Owner & transaction history
City Of Memphis
City Of Memphis
since 2026
6 recorded transactions
Zoning & alternative use
EMP · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$930,000
+47.2%
Retail stores
$860,000
+36.8%
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
$720,000
ML approach
$625,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$630,000
Current use
COMMERCIAL (GENERAL)
$930,000
Change: +47% · Conversion: Difficult
RETAIL STORES
$860,000
Change: +37% · Conversion: Moderate
Blend value · Realmo final
$690k
Range $621k – $759k · ±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 2022Property tax & assessments
Tax year 2022
Tax billed
$22,688
Tax year 2022
Assessed value
$372,440
Assessed 2023
Previous assessed
$372,440
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$46,160
Assessed improvement
$326,280
Land market value
$115,400
Improvement market value
$815,700
Total market value
$931,100
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
1974
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Total area
15,360 SF
Lot
2.96 ac (129,112 SF)
Zoning code
EMP
APN
078-003- -A-00054
UPID
US80-1957960
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
$630,000
COMMERCIAL (GENERAL)
Est. value
$930,000
RETAIL STORES
Est. value
$860,000
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
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
1974
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
2.96 ac
Current owner
From public records · entity-resolved
City Of Memphis
Entity
Mailing address
1555 3RD PL, MEMPHIS, TN 38116-3507
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2026
—
City Of Memphis
Se Industrial Investments LLC
Special Warranty Deed
—
Jun 10, 2025
—
Se Industrial Investments LLC
—
Deed
related
$1,721,905 · Guaranty Bank & Trust Co
Sep 11, 2023
$750,000
Se Industrial Investments LLC
Lsi Properties LLC
Special Warranty Deed
$1,428,530 · Guaranty Bank & Trust Co
Nov 30, 2017
—
Lsi Properties LLC
Laboratory Systems INC
Quit Claim Deed
related
—
Mar 23, 2000
$500,000
Barrow Agee Laboratories INC
J-line Pump Co
Grant Deed
$400,000 · Union Planters National Bank
—
—
Barrow-agee Laboratories INC
—
Deed Of Trust
related
$377,000 · First Tennessee Bank National
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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