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Property profile & analytics
OFF-MARKET
Estimated value
$6,355,000
High-rise multifamily apartments
1835 Un Ave Memphis, TN 38104-3921
Entity Owned
8-yr Hold
Free & Clear
Property ID
US80-0505774
Property summary
AI-generated overview
This exceptional 2,055 square foot retail space is situated within a thriving mixed-use development in the heart of Midtown Memphis. The property benefits from its prime location, boasting high visibility and accessibility due to its proximity to Union Avenue (21,597 vehicles per day) and McLean Boulevard (9,337 vehicles per day). This ensures significant foot and vehicular traffic, providing excellent exposure for any business. The development is already home to a curated selection of established businesses, including Cameo, Rumble Boxing, and Sonder Suites, creating a vibrant and desirable environment for potential tenants. Ample parking is available, enhancing the convenience for customers and employees alike. This street retail space presents a unique opportunity for businesses seeking a high-profile location within a dynamic and upscale Midtown Memphis setting. The space is currently available for lease and offers a blank canvas for a variety of retail concepts. The property's strong tenant mix and high traffic counts make it an ideal location for businesses looking to establish a significant presence in this sought-after area. This is a rare opportunity to secure a space in a premier Midtown Memphis development.
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2019
Total area
90,840 SF
Lot
0.89 ac (38,725 SF)
Zoning code
CMU-3
APN
016-043- - -00020
UPID
US80-0505774
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
-
Harding S. Gentry Jr, PHD Physician Medical Clinic
-
Alcoholics Anonymous Social Service Agency Medical Clinic
-
Schultz Emily K Foster Care Service Social Service Agency
-
Rivercity Psychotherapy Medical Clinic
-
Andrea Nichols, PHD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.93M
Blend (final)
Blend
$6.36M
Owner & transaction history
Belz Harbour LLC · 8 yrs held
Belz Harbour LLC
since 2017
7 recorded transactions
Zoning & alternative use
CMU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$10.3M
+29.6%
Auto repair, garage
$8.8M
+11.1%
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
APARTMENT HOUSE (5+ UNITS)
$7,930,000
Current use
OFFICE BUILDING
$10,280,000
Change: +30% · Conversion: Moderate
AUTO REPAIR, GARAGE
$8,805,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,670,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$6.36M
Range $5.72M – $6.99M · ±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
$70 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$12,671
Tax year 2021
Land market value
$539,200
Improvement market value
$11,694,900
Total market value
$12,234,100
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2019
Heating
NONE
Cooling
NONE
Buildings
2
Stories
3
Units
75
Bathrooms
2
Total area
90,840 SF
Lot
0.89 ac (38,725 SF)
Zoning code
CMU-3
APN
016-043- - -00020
UPID
US80-0505774
Jurisdiction
SHELBY
Zoning & alternative use
CMU-3 · Memphis, TN
Zoning CMU-3 · permitted uses
CMU-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
$7.9M
OFFICE BUILDING
Est. value
$10.3M
AUTO REPAIR, GARAGE
Est. value
$8.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.7M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
2019
Heating
NONE
Cooling
Yes
Stories
3
Buildings
2
Units
75
Bathrooms
2
Lot
0.89 ac
Current owner
From public records · entity-resolved
Belz Harbour LLC
Entity
Free & Clear · 8 yrs held
Mailing address
114 N MAIN ST, MEMPHIS, TN 38103-2003
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2017
$2,250,000
Belz Harbour LLC
Hrp Union-mclean LLC
Grant Deed
—
Mar 17, 2016
$870,000
Hrp Union-mclean LLC
1835 Memphis Holdings LLC
Grant Deed
—
Mar 17, 2016
—
Hrp Union-mclean LLC
1835 Memphis Holdings LLC
Quit Claim Deed
related
—
Nov 29, 2011
$650,000
1835 Memphis Holdings LLC
Hewgley,michael E
Trustees Deed
related
—
Feb 6, 2009
—
1835 Nevessee LLC
—
Trustees Deed
related
$65,000 · Masarani Omar Trust (tr)
Nov 7, 2006
$1,000,000
1835 Nevassee Investments LLC
D & O Management
Warranty Deed
$675,000 · Integrated Fin'l Associates
May 9, 2006
$2,850,000
1837 Tennvada Investments LLC
Moab-1 Ents INC
Grant Deed
$1,500,000 · Frey Revekka Trust (tr)
Sep 23, 1999
$3,600,000
Union LLC
D & O Management Co
Grant Deed
$2,550,000 · Bank Of The West
Jun 8, 1999
—
D & O Management
Deberry,david T & Rebecca L
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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