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Property profile & analytics
OFF-MARKET
Estimated value
$2,390,000
Strip malls
1780 Frayser Blvd, Memphis, TN 38127-6410
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US80-3517164
Property summary
AI-generated overview
This exceptional retail opportunity presents 30,948 square feet of prime commercial space within the Frayser Center, situated at 1780 Frayser Boulevard in Memphis, Tennessee, zip code 38127. Located on the northwest corner of Frayser Boulevard and North Watkins Street, this neighborhood center enjoys high visibility and accessibility within the thriving Frayser Trade Area. The property offers flexible space options, with a minimum divisible unit of 3,470 square feet and a maximum contiguous space of 18,707 square feet. Currently, a significant portion of the center is vacant, totaling 26,177 square feet, presenting a unique chance for businesses to establish a strong presence in this dynamic market. The property is classified as retail commercial space with multiple tenancy options. This is an ideal location for businesses seeking a well-established presence in a busy Memphis neighborhood. The property is located in Shelby County and offers a compelling opportunity for expansion or new ventures. The available space is perfect for a variety of retail uses, providing ample room for growth and development. Contact us today to learn more about this exciting opportunity.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1965
Total area
25,876 SF
Lot
3.34 ac (145,360 SF)
Zoning code
CMU-2
APN
070-058- - -00022
UPID
US80-3517164
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
by Request
Comparable Approach
Comparable
$2.41M
Blend (final)
Blend
$2.39M
Owner & transaction history
Tenalok LLC · 9 yrs held
Tenalok LLC
since 2017
2 recorded transactions
Zoning & alternative use
CMU-2 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.7M
+94.9%
Office building
$3.1M
+62.5%
Auto repair, garage
$2.5M
+32.1%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,900,000
Current use
MEDICAL BUILDING
$3,700,000
Change: +95% · Conversion: Difficult
OFFICE BUILDING
$3,085,000
Change: +62% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,510,000
Change: +32% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,300,000
Change: +21% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,565,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$2.39M
Range $2.15M – $2.63M · ±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
$92 / 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
$31,677
Tax year 2022
Assessed value
$520,000
Assessed 2023
Previous assessed
$520,000
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$86,960
Assessed improvement
$433,040
Land market value
$217,400
Improvement market value
$1,082,600
Total market value
$1,300,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1965
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
25,876 SF
Lot
3.34 ac (145,360 SF)
Zoning code
CMU-2
APN
070-058- - -00022
UPID
US80-3517164
Jurisdiction
SHELBY
Zoning & alternative use
CMU-2 · Memphis, TN
Zoning CMU-2 · permitted uses
CMU-2 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$3.7M
OFFICE BUILDING
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$2.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1965
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
3.34 ac
Current owner
From public records · entity-resolved
Tenalok LLC
Entity
Mailing address
701 N POST OAK RD STE #210, HOUSTON, TX 77024-4091
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2017
—
Tenalok LLC
Tenalok Partners Ltd
Quit Claim Deed
related
$18,700,000 · Benefit Street Ptrs Cre Fin Ll
Oct 17, 2006
$2,280,000
Tenalok Partners Ltd
Union Realty
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.
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