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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Grocery and convenience stores
2450 Summer Ave Memphis, TN 38112-2520
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US80-1570727
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1978
Total area
2,496 SF
Lot
0.37 ac (16,161 SF)
Zoning code
CMU-3
APN
052-017- - -00013
UPID
US80-1570727
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
-
Rainbow Express Gas Station
-
ATM Atm
-
Krispy Krunchy Chicken Restaurant
-
Shell Grocery & Convenience Store
-
Summer Gas Mart Gas Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$540k
CAP Approach
CAP
$460k
Comparable Approach
Comparable
$669k
Blend (final)
Blend
$555k
Owner & transaction history
Summer Gas And Food Mart INC · 2 yrs held
Summer Gas And Food Mart INC
since 2024
7 recorded transactions
Zoning & alternative use
CMU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$355,000
+94.9%
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
$545,000
ML approach
$540,000
CAP Approach
CAP Return
Estimation
6%
$500,000
6.5%
$460,000
7%
$430,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$355,000
Change: +95% · Conversion: Difficult
Blend value · Realmo final
$555k
Range $500k – $611k · ±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
$222 / 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
$10,626
Tax year 2022
Assessed value
$174,440
Assessed 2023
Previous assessed
$174,440
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$57,560
Assessed improvement
$116,880
Land market value
$143,900
Improvement market value
$292,200
Total market value
$436,100
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
CONVENIENCE STORE
Status
Off-Market
Year built
1978
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
2,496 SF
Lot
0.37 ac (16,161 SF)
Zoning code
CMU-3
APN
052-017- - -00013
UPID
US80-1570727
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
$355,000
MEDICAL BUILDING
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
1978
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.37 ac
Current owner
From public records · entity-resolved
Summer Gas And Food Mart INC
Entity
Mailing address
2450 SUMMER AVE, MEMPHIS, TN 38112-2520
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2024
—
Summer Gas And Food Mart INC
Not Provided
Agreement Of Sale
$250,000 · Sei Fuel Services INC
Feb 10, 2020
$660,000
Summer Gas & Food Mart INC
Dandy Express INC
Warranty Deed
$513,778 · Renasant Bk
Jan 22, 2015
$500,000
Dandy Express INC
Abdurahim H Omer
Warranty Deed
$482,498 · Renasant Bank
Apr 21, 2009
—
Abdurahim H Omer
Omer,abdurahim H & Sarah J
Quit Claim Deed
related
—
Sep 19, 2006
$280,000
Abdulralim H Omer
Mckennen,eyasu
Warranty Deed
$510,000 · Financial Planning Group Memph
May 8, 2002
$300,000
Eyasu Mekonnen
Ibrahim,wahib
Grant Deed
$284,850 · Financial Planning Group Memph
—
—
Eyasu Mekonnew
—
Deed Of Trust
related
$61,000 · Financial Planning Group
—
—
Eyasu Mekonnen
—
Deed Of Trust
related
$30,000 · Wahib Ibrahim
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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