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Property profile & analytics
OFF-MARKET Estimated value $2,385,000
Apartment buildings

171 Merton St Memphis, TN 38112-3707

8,990 SF 2.46 ac lot Built 1964
Entity Owned 2-yr Hold
Property ID
US80-0553347
Property profile
Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Year built 1964
Total area 8,990 SF
Lot 2.46 ac (106,940 SF)
Zoning code RU-3
APN 033-012- - -00017-C
UPID US80-0553347
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
  • Merton Manor Apartments Apartment Building Apartment Complex
  • B Tax & Services LLC Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$2.47M
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.54M
Blend (final) Blend
$2.39M
Owner & transaction history
Hamilton Avenue LLC · 2 yrs held
Hamilton Avenue LLC
since 2024
Last sale
$2.8M
7 recorded transactions
2024
$2.6M
2020
$2.8M
2017
$2.4M
2017
Price N/A
2008
Price N/A
2008
$900,000
2008
Price N/A
Zoning & alternative use
RU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Housing Type RU-1 RU-2 RU-3 RU-4 RU-5 Conventional Side Yard House Cottage ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- -- Semi-Attached Two-Family Townhouse ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- ■ Large Home Stacked Townhouse Apartment   -- ■ ■ -- ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ = Permitted -- = not permitted  = permitted by Special Use Permit Building Regulations for Permitted Housing…

Zone name Residential Urban 3
General category RESIDENTIAL
Zone area 7,600.37 ac
Source CHAPTER 1
Top alternative use upside
Restaurant $2.8M +172.0%
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