Property profile

1863 Un Ave Memphis, TN 38104

OFF-MARKET
Retail space
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Property ID
US80-0474164
13,936 SF 2.31 ac Built 1995
Last sale Dec 2024·$47,754
Entity Owned Owner of record is a legal entity (LLC / corporation). 1-yr Hold Held for 1 years. Free & Clear No active or open recorded mortgage detected.
Market Trends Soon

Property summary

AI-generated overview

The property consists of a Walgreens retail building totaling 13,963 square feet on a 2.29-acre parcel located at 1863 Union Avenue in Memphis, Tennessee, along the Union Avenue corridor. The building is configured as a single-tenant, corporate-guaranteed NNN ground lease structure, with the lease term historically extending to September 2074 (approximately 49 years remaining as described). Under the stated lease structure, Walgreens assumes responsibility for property-related expenses including maintenance, repairs, taxes, and insurance.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2022

What does the county charge?
$46k
Tax billed · 2022
Assessed value · 2023$763k
Assessed land$280k
Assessed improvement$483k
Effective rate6.09%

Value estimate

· Nov 2026
$4.87M
$4.38M – $5.36M
CAP approach$2.14M
Submarket $/SF estimate$2.49M

Realmo valuation models over county records and 9 qualifying comparable sales.

Recently sold

What actually traded nearby?
$120/SF
ZIP average, outlier-cleaned · 41 recorded sales of this use type
Observed band · Q1–Q3$57 – $178
Qualifying comparables9

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

What can be built here?
CMU-3
The CMU-3 District is intended to accommodate a very broad range of high intensity commercial, office and employment uses that require hi...
General categoryMIXED_USE
JurisdictionSHELBY

Location intelligence

Which uses thrive at this corner?
Best fit: Dental Office
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Dental Office20.9
Realty agency16.1
Auto Parts Store15.9

Location

1863 Un Ave Memphis, TN 38104-4028
County assessor Recorded deeds · 5 transfers 9 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
1810 Un, Memphis, TN 38104-3941 $3,045,554 Jun 2025 17,412 SF
1410 Poplar, Memphis, TN 38104-2903 $341,666 Mar 2025 5,363 SF
995 Pkwy S, Memphis, TN 38104-5815 $750,000 Jan 2025 10,032 SF
287 Cleveland, Memphis, TN 38104-7145 $1,075,000 May 2024 9,180 SF
1516 Un, Memphis, TN 38104-3700 $934,999 Apr 2024 7,949 SF
80 Flicker, Memphis, TN 38104-5918 $740,000 Jun 2023 6,212 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Includes: Price & PSF · Cap rate · Location · Zoning

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