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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Warehouses
2020 Fletcher Crk Dr Memphis, TN 38133-7056
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US80-2026922
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1998
Total area
8,268 SF
Lot
0.82 ac (35,545 SF)
Zoning code
EMP
APN
089-028- -B-00076-C
UPID
US80-2026922
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
-
Empire Auto Parts Auto Parts Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$585k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$482k
Blend (final)
Blend
$620k
Owner & transaction history
Lon K Mcdurmon III · 4 yrs held
Lon K Mcdurmon III
since 2022
Last sale
$731,000
6 recorded transactions
Zoning & alternative use
EMP · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$985,000
+104.8%
Auto repair, garage
$800,000
+66.5%
Apartment house (5+ units)
$735,000
+52.8%
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
$580,000
ML approach
$585,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$480,000
Current use
OFFICE BUILDING
$985,000
Change: +105% · Conversion: Difficult
AUTO REPAIR, GARAGE
$800,000
Change: +66% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$735,000
Change: +53% · Conversion: Difficult
RETAIL STORES
$685,000
Change: +42% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$605,000
Change: +26% · Conversion: Moderate
Blend value · Realmo final
$620k
Range $558k – $682k · ±10% · vs last sale $731k (Jun 23 2022)
Last sale anchor
$731k
Jun 23 2022
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
$75 / 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
$11,287
Tax year 2022
Assessed value
$185,280
Assessed 2023
Previous assessed
$185,280
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$44,920
Assessed improvement
$140,360
Land market value
$112,300
Improvement market value
$350,900
Total market value
$463,200
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
1998
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
8,268 SF
Lot
0.82 ac (35,545 SF)
Zoning code
EMP
APN
089-028- -B-00076-C
UPID
US80-2026922
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
$480,000
OFFICE BUILDING
Est. value
$985,000
AUTO REPAIR, GARAGE
Est. value
$800,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$735,000
RETAIL STORES
Est. value
$685,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$605,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1998
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.82 ac
Current owner
From public records · entity-resolved
Lon K Mcdurmon III
Individual
Mailing address
1706 BARTLETT RD #104, BARTLETT, TN 38134-6403
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 23, 2022
$731,000
Lon K Mcdurmon III
Christopher K Choate
Special Warranty Deed
$1,285,600 · Orion FCU
Jun 6, 2017
$375,000
Christopher K Choate
Southeast Equity Alliance LLC
Warranty Deed
$375,000 · Banktennessee
Feb 28, 2012
—
Southeast Equity Alliance LLC
Ewp LLC
Quit Claim Deed
related
$297,500 · Metropolitan Bank
Jan 11, 2012
$350,000
Ewp LLC
Schaefer Memphis LLC
Warranty Deed
—
Jan 4, 2002
$470,000
Schaefer Memphis LLC
Stubbs,norman E & Laura H
Grant Deed
—
—
—
Schafer Memphis LLC
—
Deed Of Trust
related
$360,000 · Bank Of Dyer
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.
Try Rey
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