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Property profile & analytics
OFF-MARKET
Estimated value
$3,665,000
Office buildings
1648 Massey Rd Memphis, TN 38120-4209
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US80-1084642
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2017
Total area
16,350 SF
Lot
0.8 ac (34,717 SF)
Zoning code
R-15
APN
080-008- - -00412
UPID
US80-1084642
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
-
Vaco Employment Agency
-
Speak Creative Marketing & Advertising (Bike/Boat/Book/etc) Store
-
RocketFuel Advertising Agency Marketing & Advertising
-
Savage Construction Construction Company General Contractor
-
Roundtable Meetings & Events Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.11M
Comparable Approach
Comparable
$3.55M
Blend (final)
Blend
$3.67M
Owner & transaction history
Savage Venture Partners LLC · 10 yrs held
Savage Venture Partners LLC
since 2015
7 recorded transactions
Zoning & alternative use
R-15 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.0M
+78.1%
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%
$4,445,000
6.5%
$4,105,000
7%
$3,810,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,825,000
Current use
RESTAURANT
$5,035,000
Change: +78% · Conversion: Moderate
MEDICAL BUILDING
$2,340,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$3.67M
Range $3.30M – $4.03M · ±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
$224 / 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
$63,346
Tax year 2022
Assessed value
$1,039,880
Assessed 2023
Previous assessed
$1,039,880
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$236,120
Assessed improvement
$803,760
Land market value
$590,300
Improvement market value
$2,009,400
Total market value
$2,599,700
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2017
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
16,350 SF
Lot
0.8 ac (34,717 SF)
Zoning code
R-15
APN
080-008- - -00412
UPID
US80-1084642
Jurisdiction
SHELBY
Zoning & alternative use
R-15 · Memphis, TN
Zoning R-15 · permitted uses
R-15 · 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
OFFICE BUILDING Current
Est. value
$2.8M
RESTAURANT
Est. value
$5.0M
MEDICAL BUILDING
Est. value
$2.3M
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
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
2017
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.8 ac
Current owner
From public records · entity-resolved
Savage Venture Partners LLC
Entity
Mailing address
1648 W MASSEY RD #200, MEMPHIS, TN 38120-4209
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2020
—
Savage Venture Partners LLC
—
Deed
related
$2,388,808 · First Horizon Bk
Aug 5, 2016
—
Savage Venture Partners LLC
—
Deed
related
$2,571,252 · First Tn Bk
Dec 16, 2015
$595,000
Savage Venture Partners LLC
Quail Hollow Office Partners
Warranty Deed
$595,000 · First Tn Bk
Dec 29, 2014
—
Quail Hollow Office Ptshp
—
Trustees Deed
related
$500,000 · Landmark Cmnty Bk
Jan 25, 2011
—
Quail Hollow Office Ptshp
—
Deed Of Trust
related
$1,700,500 · Regions Bank
Aug 4, 1999
—
Quail Hollow Office Partners
Qhp LLC
Quit Claim Deed
related
—
Aug 3, 1998
$425,000
Qhp Limited Liability Company
Bryan Construction Co LLC
Grant Deed
$1,600,000 · Nashoba Bank
—
—
Savage Venture Partners LLC
—
Loan Modification
related
$2,571,252 · First Tn Bk
—
—
Savage Venture Partners LLC
—
Loan Modification
related
$2,388,808 · First Horizon Bk
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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