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Property profile & analytics
OFF-MARKET
Estimated value
$720,000
Retail space
2178 Central Ave Memphis, TN 38104-5504
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US80-1755407
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1961
Total area
14,050 SF
Lot
0.69 ac (30,231 SF)
Zoning code
EMP
APN
028-015- - -00015
UPID
US80-1755407
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$550k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$720k
Owner & transaction history
2178 Central Avenue LLC · 6 yrs held
2178 Central Avenue LLC
since 2020
Last sale
$715,000
6 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
$590,000
ML approach
$550,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$720k
Range $648k – $792k · ±10% · vs last sale $715k (Feb 3 2020)
Last sale anchor
$715k
Feb 3 2020
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
$51 / 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
$17,415
Tax year 2022
Assessed value
$285,880
Assessed 2023
Previous assessed
$285,880
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$84,200
Assessed improvement
$201,680
Land market value
$210,500
Improvement market value
$504,200
Total market value
$714,700
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1961
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
14,050 SF
Lot
0.69 ac (30,231 SF)
Zoning code
EMP
APN
028-015- - -00015
UPID
US80-1755407
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.
Building & site characteristics
From public records
Year built
1961
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.69 ac
Current owner
From public records · entity-resolved
2178 Central Avenue LLC
Entity
Mailing address
1437 CENTRAL AVE STE #1200, MEMPHIS, TN 38104-4905
Ownership since
2020
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
Feb 3, 2020
$715,000
2178 Central Avenue LLC
Donald E Carwile
Grant Deed
$357,500 · Eric Clauson
Feb 3, 2020
—
2178 Central Avenue LLC
Onald E Carwile
Quit Claim Deed
related
$357,500 · Eric Clauson
Jun 12, 2017
—
Donald E Carwile
—
Deed
related
$147,736 · Independent Bk
—
—
Donald E Carwile
—
Deed Of Trust
related
$141,586 · Independent Bank
—
—
Donald E Carwile
—
Loan Modification
related
$147,736 · Independent Bk
—
—
Donald E Carwile
—
Deed Of Trust
related
$130,000 · Bank Of Bartlett
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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