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Property profile & analytics
OFF-MARKET
Estimated value
$715,000
Office buildings
2228 Germantown Rd, Germantown, TN 38138-3804
Individually Owned
3-yr Hold
Free & Clear
Property ID
US80-0693493
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1900
Construction
FRAME
Total area
1,912 SF
Lot
0.56 ac (24,394 SF)
Zoning code
OG
APN
G02-31 - - -00013
UPID
US80-0693493
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
-
Southern Avenue Company (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$695k
CAP Approach
CAP
$480k
Comparable Approach
Comparable
$735k
Blend (final)
Blend
$715k
Owner & transaction history
Joel Kimbrough · 3 yrs held
Joel Kimbrough
since 2022
Last sale
$700,000
3 recorded transactions
Zoning & alternative use
OG · Germantown, 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 Germantown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Germantown 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
$760,000
ML approach
$695,000
CAP Approach
CAP Return
Estimation
6%
$520,000
6.5%
$480,000
7%
$445,000
Blend value · Realmo final
$715k
Range $644k – $787k · ±10% · vs last sale $700k (Nov 2 2022)
Last sale anchor
$700k
Nov 2 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
$374 / 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
$7,086
Tax year 2022
Assessed value
$139,960
Assessed 2023
Previous assessed
$139,960
+0.0% YoY
Effective rate
5.06%
On assessed value
Assessed land
$76,720
Assessed improvement
$63,240
Land market value
$191,800
Improvement market value
$158,100
Total market value
$349,900
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1900
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
7
Bathrooms
1
Total area
1,912 SF
Lot
0.56 ac (24,394 SF)
Zoning code
OG
APN
G02-31 - - -00013
UPID
US80-0693493
Jurisdiction
SHELBY
Zoning & alternative use
OG · Germantown, TN
Zoning OG · permitted uses
OG · Germantown, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Germantown. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1900
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
7
Bathrooms
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
Joel Kimbrough
Individual
Free & Clear · 3 yrs held
Mailing address
3085 CHAPEL WOODS CV, GERMANTOWN, TN 38139-2505
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2022
$700,000
Joel Kimbrough
Frankum Limited Partnership
Warranty Deed
—
May 11, 2009
—
Frankum
Frankum,charles E & Linda L
Quit Claim Deed
related
—
Jul 19, 2004
—
Charles E Frankum
Frankum,charles E & Linda L
Quit Claim Deed
related
—
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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