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Property profile & analytics
OFF-MARKET
Estimated value
$2,280,000
Apartment buildings
178 Hillview Ave, Memphis, TN 38109-8808
Entity Owned
22-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-1058917
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1966
Total area
24,192 SF
Lot
14.64 ac (637,588 SF)
Zoning code
RU-3
APN
076-001- - -00094
UPID
US80-1058917
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.80M
Comparable Approach
Comparable
$1.77M
Blend (final)
Blend
$2.28M
Owner & transaction history
Valley Forge LLC · 22 yrs held
Valley Forge LLC
since 2003
1 recorded transaction
Zoning & alternative use
RU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.5M
+60.8%
Office building
$2.9M
+34.1%
Auto repair, garage
$2.3M
+9.0%
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%
$3,035,000
6.5%
$2,800,000
7%
$2,600,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,150,000
Current use
MEDICAL BUILDING
$3,460,000
Change: +61% · Conversion: Moderate
OFFICE BUILDING
$2,885,000
Change: +34% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,345,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$2,005,000
Change: -7% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,775,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$2.28M
Range $2.05M – $2.51M · ±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
$94 / 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
$94,440
Tax year 2022
Assessed value
$1,550,320
Assessed 2023
Previous assessed
$1,550,320
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$318,800
Assessed improvement
$1,231,520
Land market value
$797,000
Improvement market value
$3,078,800
Total market value
$3,875,800
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
1966
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
12
Stories
1
Units
24
Bathrooms
15
Total area
24,192 SF
Lot
14.64 ac (637,588 SF)
Zoning code
RU-3
APN
076-001- - -00094
UPID
US80-1058917
Jurisdiction
SHELBY
Zoning & alternative use
RU-3 · Memphis, TN
Zoning RU-3 · permitted uses
RU-3 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$3.5M
OFFICE BUILDING
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.3M
RETAIL STORES
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1966
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
12
Units
24
Bathrooms
15
Lot
14.64 ac
Current owner
From public records · entity-resolved
Valley Forge LLC
Entity
Free & Clear · 22 yrs held
Mailing address
200 WITMER RD, HORSHAM, PA 19044-2213
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2003
—
Valley Forge LLC
Makowsky,jerome B
Quit Claim Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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