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Property profile & analytics
OFF-MARKET
Estimated value
$9,955,000
Outlet malls
2431 Germantown Pkwy, Cordova, TN 38016-4422
Entity Owned
5-yr Hold
Free & Clear
Property ID
US80-0907816
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1999
Total area
146,182 SF
Lot
14.45 ac (629,573 SF)
Zoning code
OG
APN
092-013- - -00001
UPID
US80-0907816
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
-
Costco Wholesale Big Box & Wholesale Store Discount Store
-
Costco Pharmacy Pharmacy
-
Costco Vision Center Ophthalmologist (Bike/Boat/Book/etc) Store
-
Costco Tire Center (Bike/Boat/Book/etc) Store Auto Parts Store
-
Costco Bakery Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.71M
Blend (final)
Blend
$9.96M
Owner & transaction history
City Of Memphis · 5 yrs held
City Of Memphis
since 2021
1 recorded transaction
Zoning & alternative use
OG · Cordova, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$14.6M
+11.4%
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 Cordova submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cordova 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
$13,130,000
Current use
AUTO REPAIR, GARAGE
$14,625,000
Change: +11% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$13,055,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$9.96M
Range $8.96M – $10.95M · ±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
$68 / 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
$330,727
Tax year 2022
Assessed value
$5,429,200
Assessed 2023
Previous assessed
$5,429,200
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$2,084,640
Assessed improvement
$3,344,560
Land market value
$5,211,600
Improvement market value
$8,361,400
Total market value
$13,573,000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1999
Heating
SPACE
Cooling
NONE
Stories
1
Total area
146,182 SF
Lot
14.45 ac (629,573 SF)
Zoning code
OG
APN
092-013- - -00001
UPID
US80-0907816
Jurisdiction
SHELBY
Zoning & alternative use
OG · Cordova, TN
Zoning OG · permitted uses
OG · Cordova, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cordova. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$13.1M
AUTO REPAIR, GARAGE
Est. value
$14.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$13.1M
RETAIL STORES Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1999
Heating
SPACE
Cooling
Yes
Stories
1
Lot
14.45 ac
Current owner
From public records · entity-resolved
City Of Memphis
Entity
Free & Clear · 5 yrs held
Mailing address
999 LK DR, ISSAQUAH, WA 98027-8990
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 10, 2021
—
City Of Memphis
Costco Wholesale Corporation
Warranty Deed
—
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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