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Property profile & analytics
OFF-MARKET
Estimated value
$1,965,000
Hotels
2298 Elvis Presley Blvd Memphis, TN 38106
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US80-1408908
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1952
Total area
12,735 SF
Lot
2.91 ac (126,760 SF)
Zoning code
CMU-3
APN
060-032- - -00084
UPID
US80-1408908
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
-
Elvis Presley Blvd. Inn Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.94M
CAP Approach
CAP
$1.48M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.97M
Owner & transaction history
Krishna Md3 Group INC · 2 yrs held
Krishna Md3 Group INC
since 2023
Last sale
$2.0M
5 recorded transactions
Zoning & alternative use
CMU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.8M
+110.1%
Office building
$1.5M
+75.2%
Auto repair, garage
$1.2M
+42.4%
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
$1,925,000
ML approach
$1,940,000
CAP Approach
CAP Return
Estimation
6%
$1,595,000
6.5%
$1,475,000
7%
$1,370,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,820,000
Change: +110% · Conversion: Difficult
OFFICE BUILDING
$1,520,000
Change: +75% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,235,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$1.97M
Range $1.77M – $2.16M · ±10% · vs last sale $2.00M (Dec 1 2023)
Last sale anchor
$2.00M
Dec 1 2023
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
$154 / 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
$8,428
Tax year 2022
Assessed value
$138,360
Assessed 2023
Previous assessed
$138,360
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$95,760
Assessed improvement
$42,600
Land market value
$239,400
Improvement market value
$106,500
Total market value
$345,900
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1952
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
12,735 SF
Lot
2.91 ac (126,760 SF)
Zoning code
CMU-3
APN
060-032- - -00084
UPID
US80-1408908
Jurisdiction
SHELBY
Zoning & alternative use
CMU-3 · Memphis, TN
Zoning CMU-3 · permitted uses
CMU-3 · 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
MEDICAL BUILDING
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1952
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Lot
2.91 ac
Current owner
From public records · entity-resolved
Krishna Md3 Group INC
Entity
Mailing address
2300 ELVIS, MEMPHIS, TN 38106
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 1, 2023
$2,000,000
Krishna Md3 Group INC
Nili LLC
Warranty Deed
$1,700,000 · Krishna Md3 Group
Mar 4, 2020
—
Nili LLC
Shailesh M Patel
Quit Claim Deed
related
$572,000 · Fidelity Bk
Nov 20, 2019
—
Shailesh M Patel
—
Deed
related
—
—
—
Shailesh M Patel
—
Loan Modification
related
—
—
—
Shailesh M Patel
—
Deed Of Trust
related
$500,000 · Fidelity Nat'l Bk
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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