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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Warehouses
251 Ct Ave Memphis, TN 38103-2315
Individually Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-1144207
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1955
Total area
14,139 SF
Lot
0.33 ac (14,375 SF)
Zoning code
CBD
APN
002-026- - -00010
UPID
US80-1144207
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
-
ESWT Men's Health Clinic Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$599k
Blend (final)
Blend
$515k
Owner & transaction history
Shelby Cnty Board Of Education · 6 yrs held
Shelby Cnty Board Of Education
since 2019
7 recorded transactions
Zoning & alternative use
CBD · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
WAREHOUSE, STORAGE
$600,000
Current use
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$36 / 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
$993
Tax year 2021
Land market value
$219,700
Improvement market value
$187,100
Total market value
$406,800
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1955
Heating
NONE
Cooling
NONE
Stories
1
Total area
14,139 SF
Lot
0.33 ac (14,375 SF)
Zoning code
CBD
APN
002-026- - -00010
UPID
US80-1144207
Jurisdiction
SHELBY
Zoning & alternative use
CBD · Memphis, TN
Zoning CBD · permitted uses
CBD · 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
WAREHOUSE, STORAGE Current
Est. value
$600,000
WAREHOUSE, STORAGE Current
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
1955
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
Shelby Cnty Board Of Education
Individual
Free & Clear · 6 yrs held
Mailing address
240 MADISON AVE STE #700, MEMPHIS, TN 38103-2706
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 20, 2019
—
Shelby Cnty Board Of Education
Memphis City Board Of Education
Quit Claim Deed
related
—
Jun 1, 2017
—
Memphis Center City Revenue Fi
Navin Partners LLC
Quit Claim Deed
related
$11,256,816 · Orion FCU
May 30, 2017
$130,000
Navin Partners LLC
Walk-off Properties LLC
Quit Claim Deed
related
—
Oct 5, 2015
—
Shelby County Board Of Education
Board Of Education/memphis City S
Quit Claim Deed
related
—
Oct 5, 2015
$130,000
Walk-off Properties LLC
Shelby County Board Of Education
Quit Claim Deed
related
—
Sep 30, 2015
—
Walk-off Properties LLC
Hickman Properties INC
Quit Claim Deed
related
—
Feb 23, 1999
—
Board Of Education Memphis
American Legion Housing Assoc
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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