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Property profile & analytics
OFF-MARKET
Estimated value
$3,620,000
Grocery and convenience stores
2269 Lamar Ave Memphis, TN 38114-6656
Individually Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-1211682
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1985
Total area
40,709 SF
Lot
3.91 ac (170,407 SF)
Zoning code
EMP
APN
047-020- - -00131
UPID
US80-1211682
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
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
higi Physician
-
Western Union Bank Credit Union
-
Superlo Foods Grocery & Convenience Store Food Market
-
Coin Connection Bitcoin ATM Atm Crypto Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.38M
Blend (final)
Blend
$3.62M
Owner & transaction history
Economic Dev Growth Engine Ind · 6 yrs held
Economic Dev Growth Engine Ind
since 2020
4 recorded transactions
Zoning & alternative use
EMP · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$5.8M
+72.4%
Office building
$4.9M
+43.8%
Auto repair, garage
$3.9M
+16.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,380,000
Current use
MEDICAL BUILDING
$5,825,000
Change: +72% · Conversion: Difficult
OFFICE BUILDING
$4,855,000
Change: +44% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,945,000
Change: +17% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,990,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$3.62M
Range $3.26M – $3.98M · ±10%
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
$89 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$10,559
Tax year 2021
Land market value
$602,800
Improvement market value
$997,200
Total market value
$1,600,000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1985
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
40,709 SF
Lot
3.91 ac (170,407 SF)
Zoning code
EMP
APN
047-020- - -00131
UPID
US80-1211682
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
RETAIL STORES Current
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$5.8M
OFFICE BUILDING
Est. value
$4.9M
AUTO REPAIR, GARAGE
Est. value
$3.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.0M
RETAIL STORES Current
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1985
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
3.91 ac
Current owner
From public records · entity-resolved
Economic Dev Growth Engine Ind
Individual
Free & Clear · 6 yrs held
Mailing address
100 PEABODY PL STE #1100, MEMPHIS, TN 38103-3652
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2020
—
Economic Dev Growth Engine Ind
Rsb Investments LLC
Grant Deed
related
—
Oct 1, 2019
—
Rsb Investments LLC
Kroger LP I
Quit Claim Deed
related
—
Nov 10, 2005
$279,068
LP I Kroger
Kroger Trust 86-1
Quit Claim Deed
related
—
Nov 10, 2005
$1,556,344
Kroger Co
Kroger Trust 86-1
Grant 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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