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    Property profile & analytics

    1756 Carver Ave Memphis, TN 38114

    • Apartment buildings
    • 29,624 SF
    • 4.07 lot acres
    OFF-MARKET
    Value Estimations
    $1,700,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1870865
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1756 Carver Ave

    Year built
    1949
    Lot size
    4.07 lot acres
    Property size
    29,624 SF
    Zone code
    RU-3
    Property type
    Apartment buildings
    APN
    060-105- - -00005
    APU
    6010500005

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,877,000
      Market price range: $588k - $2.95M
      AI Estimate
      $1,525,000
      Market price range: $588k - $2.23M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,880,000
      Current use
      RETAIL STORES
      $2,460,000
      Change: +31% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,175,000
      Change: +16% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,790,000
      Change: -5% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9974
    Latitude
    35.0975
    CBSA code
    32820
    CBSA name
    MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $1,357
    $0.00
    $0.00
    $0.00
    -
    $183,400
    $174,400
    $357,800

    Comparable in this City

    • Value Estimation
      $1,110,000
      19,320 SF

      1708 Carver Ave

      APARTMENT HOUSE (5+ UNITS) • 19,320 SF
      1708 Carver Ave, Memphis, TN 38114
      View Details
    • Value Estimation by Request
      3,885 SF

      1939 Castalia St

      APARTMENT HOUSE (5+ UNITS) • 3,885 SF
      1939 Castalia St, Memphis, TN 38114-4676
      View Details
    • Value Estimation
      $2,375,000
      36,540 SF

      3015 Barron Ave

      APARTMENT HOUSE (5+ UNITS) • 36,540 SF
      3015 Barron Ave, Memphis, TN 38114
      View Details
    • Value Estimation
      $560,000
      4,452 SF

      2227 Airways Blvd

      APARTMENT HOUSE (5+ UNITS) • 4,452 SF
      2227 Airways Blvd, Memphis, TN 38114-6166
      View Details
    • Value Estimation
      $2,700,000
      53,328 SF

      2281 Ketchum Rd

      APARTMENT HOUSE (5+ UNITS) • 53,328 SF
      2281 Ketchum Rd, Memphis, TN 38114-6045
      View Details
    • Value Estimation by Request
      5,003 SF

      1030 Hamilton St

      APARTMENT HOUSE (5+ UNITS) • 5,003 SF
      1030 Hamilton St, Memphis, TN 38114-3131
      View Details

    Similar Nearby for Sale

    • New
      $399,700

      Memphis Fourplex Near Development

      Charming, fully leased fourplex near Central Gardens and Cooper Young.
      1009 Rozelle St, Memphis, TN 38114
      View Details
    • Contact for pricing
      0.14 Acres

      Residential Lot in Memphis

      Residential lot available for new construction in Memphis, Tennessee.
      1585 Southern Ave, Memphis, TN 38114
      View Details
    • Contact for pricing
      0.15 Acres

      Cleared Vacant Lot Ready

      Cleared 0.15 acre vacant lot, ready for building project.
      1954 Boyle Ave, Memphis, TN 38114
      View Details
    • $1,950,000
      207,000 SF

      16.9 Acres with Two Buildings

      16.9 acres of commercial land with two buildings.
      3120 Lamar Ave, Memphis, TN 38114
      View Details
    • Contact for pricing

      4.113 Acres on Lamar Avenue

      4.113 acres for sale in Midtown development opportunity.
      1548 Lamar Ave, Memphis, TN 38114
      View Details
    • Contact for pricing
      0.11 Acres

      Residential Land in Memphis, TN

      Residential lot available for building a home or investment property.
      801 Cella St, Memphis, TN 38114
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,400 SF

      Lamar Ave Retail Space For Lease

      High-traffic retail space, 2400 sq ft.
      2320 Lamar Ave, Memphis, TN 38114
      View Details
    • Contact for pricing

      Retail Space on Corner Lot

      2,400 SF retail space at a signalized intersection.
      2320 Lamar Ave, Memphis, TN 38114
      View Details
    • Contact for pricing
      139,600 SF

      Midtown Memphis Retail Center

      High-traffic retail space, 139,600 SF
      2268 Lamar Ave, Memphis, TN 38114
      View Details
    • Contact for pricing
      2,500 SF

      Retail Spaces on Lamar Avenue

      Retail spaces available near Memphis International Airport.
      2930 Lamar Ave, Memphis, TN 38114
      View Details
    • $8 SF/Yr
      12,000 SF

      Retail Space in Memphis, TN

      24,806 SF building ideal for retail investment.
      2985-2989 Lamar Ave, Memphis, TN 38114
      View Details
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    1756 Carver Ave
    Memphis, TN 38114
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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