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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2192 Central Ave Memphis, TN 38104-5504

    • Specialty properties
    • 3,411 SF
    • 0.31 lot acres
    OFF-MARKET
    Value Estimations
    $180,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-3530278
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Central Animal Hospital / Animal Hospital / Pet Boarding Service
    • Karnes Jennifer DVM / Veterinarian
    • SP+ Parking / Parking Garage
    • Svoboda Lynn DVM / Veterinarian

    Property Details for 2192 Central Ave

    Year built
    1946
    Lot size
    0.31 lot acres
    Property size
    3,411 SF
    Zone code
    CMU-1
    Property type
    Specialty properties
    APN
    028-015- - -00012-C
    APU
    02801500012C

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $215,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $145,000
      Market price range: $127k - $267k

    • Alternative Use

      Use
      Estimation
      VETERINARY, ANIMAL HOSPITAL
      $205,000
      Current use
      RETAIL STORES
      $310,000
      Change: +53% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $310,000
      Change: +52% Conversion: Difficult
      OFFICE BUILDING
      $310,000
      Change: +52% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $235,000
      Change: +16% Conversion: Difficult
      MEDICAL BUILDING
      $200,000
      Change: -1% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9888
    Latitude
    35.1263
    CBSA code
    32820
    CBSA name
    MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $4,761
    $30,720
    $47,440
    $78,160
    -
    $76,800
    $118,600
    $195,400

    Comparable in this City

    • Value Estimation
      $290,000
      5,052 SF

      733 Pkwy S Pkwy

      VETERINARY, ANIMAL HOSPITAL • 5,052 SF
      733 Pkwy S Pkwy, Memphis, TN 38104-5521
      View Details
    • Value Estimation by Request
      11,618 SF

      25 Camilla St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 11,618 SF
      25 Camilla St, Memphis, TN 38104-3101
      View Details
    • Value Estimation
      $210,000
      2,892 SF

      1157 Madison Ave

      VETERINARY, ANIMAL HOSPITAL • 2,892 SF
      1157 Madison Ave, Memphis, TN 38104-2202
      View Details
    • Value Estimation
      $335,000
      4,829 SF

      693 Cox St

      VETERINARY, ANIMAL HOSPITAL • 4,829 SF
      693 Cox St, Memphis, TN 38104
      View Details
    • Value Estimation
      $185,000
      3,298 SF

      1336 Peabody Ave

      DAY CARE, PRE-SCHOOL • 3,298 SF
      1336 Peabody Ave, Memphis, TN 38104-3500
      View Details
    • Value Estimation
      $195,000
      2,240 SF

      2260 Central Ave

      DAY CARE, PRE-SCHOOL • 2,240 SF
      2260 Central Ave, Memphis, TN 38104-5511
      View Details

    Similar Nearby for Sale

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      Ashlar Hall: Memphis' Castle

      Historic landmark ideal for events or private estate in Memphis.
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      Memphis Commercial Land - Prime Location

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      Midtown Land Opportunity

      Two adjoining lots in Midtown, perfect for development or investment.
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      Midtown Memphis Land For Sale

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    Similar Nearby for Lease

    • $12 SF/Yr
      4,510 SF

      Madison Ave Office Suites - Prime Location

      Two Suites, 2,255 sq ft each, High Visibility
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      View Details
    • Contact for pricing
      178,016 SF

      Union Avenue Executive Office Space

      16-Story Office Building, 10,959 SF Available
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      View Details
    • $20 SF/Yr
      8,236 SF

      Madison Ave. Retail Opportunity

      Prime Memphis Retail Space: 1,350 SF Available
      1482 Madison Ave, Memphis, TN 38104
      View Details
    • $1,500 /Mo
      1 SF

      Bellevue Land for Lease

      1.32 acres of land available for lease.
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      View Details
    • Contact for pricing
      1,500 SF

      Retail Space on E Eh Crump

      Retail space available with high traffic count and ample parking.
      938-944 E Eh Crump Blvd, Memphis, TN 38104
      View Details
    • Contact for pricing
      3,359 SF

      Restaurant with Drive-Thru For Lease

      3,359 SF restaurant with drive-thru on 0.625 acres.
      1568 Union Ave, Memphis, TN 38104
      View Details
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    2192 Central Ave
    Memphis, TN 38104-5504
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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