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Property profile & analytics
FOR LEASE
Medical Office Space
1727 Kirby Pkwy Memphis, TN 38120
Entity Owned
3-yr Hold
Free & Clear
Property ID
US80-1384763
For Lease
1 / 2
$7,815,000
1727 Kirby Pkwy, Memphis, TN 38120
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1984
Total area
29,016 SF
Lot
1.79 ac (78,016 SF)
Zoning code
RW
APN
080-008- - -00230
UPID
US80-1384763
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
-
King T Franklin MD Physician
-
Todd Vincent Robinson Physician
-
Leslie Hayden Physician
-
Greg Burana, M.D. Physician
-
Leslie Thompson Haydon Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.80M
CAP Approach
CAP
$6.47M
Comparable Approach
Comparable
$5.78M
Blend (final)
Blend
$7.82M
Owner & transaction history
Flagship Memphis Kirby LLC · 3 yrs held
Flagship Memphis Kirby LLC
since 2022
Last sale
$9.6M
4 recorded transactions
Zoning & alternative use
RW · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.9M
+115.3%
Office building
$5.0M
+20.9%
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
$7,635,000
ML approach
$7,795,000
CAP Approach
CAP Return
Estimation
6%
$7,010,000
6.5%
$6,470,000
7%
$6,010,000
Alternative Use
Use
Estimation
RESTAURANT
$8,935,000
Change: +115% · Conversion: Difficult
OFFICE BUILDING
$5,015,000
Change: +21% · Conversion: Easy
Blend value · Realmo final
$7.82M
Range $7.03M – $8.60M · ±10% · vs last sale $9.60M (Dec 28 2022)
Last sale anchor
$9.60M
Dec 28 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
$269 / 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
$112,067
Tax year 2022
Assessed value
$1,839,680
Assessed 2023
Previous assessed
$1,839,680
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$397,880
Assessed improvement
$1,441,800
Land market value
$994,700
Improvement market value
$3,604,500
Total market value
$4,599,200
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1984
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
29,016 SF
Lot
1.79 ac (78,016 SF)
Zoning code
RW
APN
080-008- - -00230
UPID
US80-1384763
Jurisdiction
SHELBY
Zoning & alternative use
RW · Memphis, TN
Zoning RW · permitted uses
RW · 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
RESTAURANT
Est. value
$8.9M
OFFICE BUILDING
Est. value
$5.0M
RESTAURANT
OFFICE 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
1984
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.79 ac
Current owner
From public records · entity-resolved
Flagship Memphis Kirby LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2701 COLTSGATE RD STE #300, CHARLOTTE, NC 28211-3594
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2022
$9,600,000
Flagship Memphis Kirby LLC
Gahc4 Memphis Tn Mob LLC
Special Warranty Deed
—
Aug 16, 2019
$8,700,000
Gahc4 Memphis Tn Mob LLC
Southland Kirby LLC
Grant Deed
—
May 31, 2016
$1,200,000
Southland Kirby LLC
Jeff Goldstein Inv Ptshp
Grant Deed
$4,725,000 · Iberiabank
Oct 2, 1998
$160,000
Goldstein Investments LLC
Crossman INC
Grant Deed
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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