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Property profile & analytics
OFF-MARKET Estimated value $3,445,000
Apartment buildings

2271 Airways Blvd Memphis, TN 38114-6170

11,840 SF 8.74 ac lot Built 1973
Entity Owned 2-yr Hold
Property ID
US80-0155570
Property profile
Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Year built 1973
Total area 11,840 SF
Lot 8.74 ac (380,497 SF)
Zoning code CMU-1
APN 060-092- - -00020-C
UPID US80-0155570
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
$3.24M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$3.45M
Owner & transaction history
Crane Manor LLC · 2 yrs held
Crane Manor LLC
since 2023
Last sale
$3.6M
7 recorded transactions
2023
$3.6M
2021
$3.5M
2018
$87,600
2018
Price N/A
2015
$1.5M
2013
$703,500
2010
$560,000
Zoning & alternative use
CMU-1 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

PRINCIPAL USE R6 RU-1 RU-3 CMU-1 CMU-2 CMP-2 Woodworking, including Cabinet Makers and Furniture Manufacturing □ ■ Warehouse □ □ Recycling Drop-off Facility □ □ □ Neighborhood Garden ■ ■ ■ ■ ■ ■ Planned Development1 □ □ □ 1. Planned Developments approved prior to the adoption of the University District Overlay (July 22, 2009) are not affected. Definitions Fo…

Zone name Commercial Mixed Use 1
General category MIXED_USE
Zone area 3,556.17 ac
Source CHAPTER 1
Top alternative use upside
Restaurant $3.6M +385.8%
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