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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Warehouses
1931 Thomas Rd Memphis, TN 38134-6306
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US80-1108117
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1973
Total area
16,400 SF
Lot
2.8 ac (121,968 SF)
Zoning code
EMP
APN
088-040- - -00013
UPID
US80-1108117
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
-
Lumalier (Bike/Boat/Book/etc) Store Hardware & Home Improvement
-
EvergreenUV, LLC. Industrial Manufacturer Production Facility
-
Dungeon Works Garage Metal Fabrication Plant Factory
-
Morgan & Turner Inc General Contractor Construction Company
-
ECR Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$570k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$569k
Blend (final)
Blend
$570k
Owner & transaction history
David R Skelton · 3 yrs held
David R Skelton
since 2023
Last sale
$575,000
7 recorded transactions
Zoning & alternative use
EMP · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$555,000
ML approach
$570,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$735,000
Current use
Blend value · Realmo final
$570k
Range $513k – $627k · ±10% · vs last sale $575k (Feb 27 2023)
Last sale anchor
$575k
Feb 27 2023
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
$35 / 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
$13,260
Tax year 2022
Assessed value
$217,680
Assessed 2023
Previous assessed
$217,680
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$107,880
Assessed improvement
$109,800
Land market value
$269,700
Improvement market value
$274,500
Total market value
$544,200
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1973
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
16,400 SF
Lot
2.8 ac (121,968 SF)
Zoning code
EMP
APN
088-040- - -00013
UPID
US80-1108117
Jurisdiction
SHELBY
Zoning & alternative use
EMP · Memphis, TN
Zoning EMP · permitted uses
EMP · 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
WAREHOUSE, STORAGE Current
Est. value
$735,000
WAREHOUSE, STORAGE Current
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
1973
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.8 ac
Current owner
From public records · entity-resolved
David R Skelton
Individual
Mailing address
9015 ANDERTON SPGS DR, BARTLETT, TN 38133-0906
Ownership since
2023
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
Feb 27, 2023
—
David R Skelton
David Skelton
Intrafamily Transfer
related
—
Apr 1, 2021
$575,000
David Skelton
John Jerkins
Warranty Deed
—
Jun 10, 2015
—
Jerkins,john & Debbie Trust
Jerkins Debbie R
Quit Claim Deed
related
—
Jan 19, 2007
—
Debbie R Jerkins
Jerkins,john R
Quit Claim Deed
related
—
Mar 3, 2006
—
John R Jerkins
—
Trustees Deed
related
$100,000 · First Tennessee Bank National
—
—
John R Jerkins
—
Deed Of Trust
related
$100,000 · First Tennessee Bank National
—
—
John R Jerkins
—
Deed Of Trust
related
$100,000 · First Tennessee Bank National
—
—
John R Jerkins
—
Deed Of Trust
related
$98,000 · First Tennessee Bank National
—
—
Mid South Controls INC
—
Deed Of Trust
related
$75,000 · First Tennessee Bank National
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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