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Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Drive through restaurants
2221 Frayser Blvd, Memphis, TN 38127-5745
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US80-3557383
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1979
Total area
2,694 SF
Lot
0.8 ac (34,979 SF)
Zoning code
CMU-1
APN
072-058- - -00001
UPID
US80-3557383
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
-
Wendy's Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$700k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$880k
Owner & transaction history
Kelly& Ryan INC · 1 yrs held
Kelly& Ryan INC
since 2025
Last sale
$900,000
6 recorded transactions
Zoning & alternative use
CMU-1 · 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
$710,000
ML approach
$700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$880k
Range $792k – $968k · ±10% · vs last sale $900k (Apr 3 2025)
Last sale anchor
$900k
Apr 3 2025
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
$327 / 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
$14,695
Tax year 2022
Assessed value
$241,240
Assessed 2023
Previous assessed
$241,240
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$26,880
Assessed improvement
$214,360
Land market value
$67,200
Improvement market value
$535,900
Total market value
$603,100
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1979
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
2,694 SF
Lot
0.8 ac (34,979 SF)
Zoning code
CMU-1
APN
072-058- - -00001
UPID
US80-3557383
Jurisdiction
SHELBY
Zoning & alternative use
CMU-1 · Memphis, TN
Zoning CMU-1 · permitted uses
CMU-1 · 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
1979
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.8 ac
Current owner
From public records · entity-resolved
Kelly& Ryan INC
Entity
Mailing address
2221 FRAYSER BLVD, MEMPHIS, TN 38127-5745
Ownership since
2025
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
Apr 3, 2025
$900,000
Kelly& Ryan INC
Steve C Wang
Warranty Deed
$480,000 · First Ic Bank
Apr 3, 2025
—
Kelly & Ryan INC
—
Deed
related
$285,000 · The Wang Family Trust
May 28, 2015
$1,460,000
Wang Family Trust
Ram Investments Of Tennessee LLC
Warranty Deed
—
Sep 26, 2007
$1,209,375
Ram Investments Of Tennessee LLC
Cnl Net Lease Funding 2003 LLC
Grant Deed
$847,000 · Pacific Capital Bank NA
Oct 2, 2006
$1,050,746
Cnl Net Lease Funding 2003 LLC
Valenti Mid-south Realty II Ll
Grant Deed
related
$1,075,000 · Wells Fargo Bank
Jan 21, 2003
$813,000
Valenti Mid-south Realty II
Ge Capital Franchise Finance
Grant Deed
$559,286 · Bank Of America
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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