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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Investment properties
1873 Madison Ave 102 Memphis, TN 38104-2940
Entity Owned
~
Est. High Equity
Property ID
US80-1700363
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1910
Construction
FRAME
Total area
4,820 SF
Lot
0.17 ac (7,405 SF)
Zoning code
CMU-3
APN
017-053- - -00002
UPID
US80-1700363
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
-
Chops and Locs Hair Salon Nail Salon
-
The Electric Circus Tattoo Tattoo & Piercing Shop
-
Lavogue Salon Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$514k
Blend (final)
Blend
$545k
Owner & transaction history
Celestial Properties LLC
Celestial Properties LLC
since 2026
4 recorded transactions
Zoning & alternative use
CMU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$690,000
+136.7%
Retail stores
$580,000
+99.3%
Office building
$545,000
+87.3%
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
MEDICAL BUILDING
$690,000
Change: +137% · Conversion: Easy
RETAIL STORES
$580,000
Change: +99% · Conversion: Easy
OFFICE BUILDING
$545,000
Change: +87% · Conversion: Easy
AUTO REPAIR, GARAGE
$465,000
Change: +60% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$355,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$545k
Range $491k – $600k · ±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
$113 / 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
$6,942
Tax year 2022
Assessed value
$113,960
Assessed 2023
Previous assessed
$113,960
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$25,240
Assessed improvement
$88,720
Land market value
$63,100
Improvement market value
$221,800
Total market value
$284,900
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1910
Construction
FRAME
Heating
NONE
Cooling
NONE
Stories
1
Rooms
9
Bathrooms
1
Total area
4,820 SF
Lot
0.17 ac (7,405 SF)
Zoning code
CMU-3
APN
017-053- - -00002
UPID
US80-1700363
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
MEDICAL BUILDING
Est. value
$690,000
RETAIL STORES
Est. value
$580,000
OFFICE BUILDING
Est. value
$545,000
AUTO REPAIR, GARAGE
Est. value
$465,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$355,000
MEDICAL BUILDING
RETAIL STORES
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
1910
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Rooms
9
Bathrooms
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Celestial Properties LLC
Entity
Mailing address
1873 MADISON AVE, MEMPHIS, TN 38104-2939
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2026
—
Celestial Properties LLC
Roddy Marsalis
Quitclaim Deed
related
$525,000 · Simmons Bank
May 18, 2022
—
Roddy Marsalis
—
Deed
related
$476,000 · Simmons Bank
Sep 6, 2017
—
Marsalis A Roddy
—
Trustees Deed
related
$433,000 · First Alliance Bk
May 3, 2016
—
Marsalis Roddy
Roddy,adrienne
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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