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Property profile & analytics
FOR LEASE
Strip malls
2632 Frayser Blvd, Memphis, TN 38127
Entity Owned
Absentee Owner
Free & Clear
Property ID
US80-2905408
For Lease
$8,230,000
2632 Frayser Blvd, Memphis, TN 38127
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1968
Total area
84,611 SF
Lot
11.25 ac (490,094 SF)
Zoning code
CMU-2
APN
072-073- - -00020-C
UPID
US80-2905408
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
-
Kroger Grocery & Convenience Store Food Market
-
Kroger Pharmacy Pharmacy
-
ecoATM Cell Phone Store Recycling Center
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Kroger Money Services Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.09M
Blend (final)
Blend
$8.23M
Owner & transaction history
TENALOK LLC
TENALOK LLC
Zoning & alternative use
CMU-2 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$12.1M
+94.9%
Office building
$10.1M
+62.5%
Auto repair, garage
$8.2M
+32.1%
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
NEIGHBORHOOD: SHOPPING CENTER
$6,210,000
Current use
MEDICAL BUILDING
$12,105,000
Change: +95% · Conversion: Difficult
OFFICE BUILDING
$10,090,000
Change: +62% · Conversion: Moderate
AUTO REPAIR, GARAGE
$8,200,000
Change: +32% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$7,525,000
Change: +21% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,110,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$8.23M
Range $7.41M – $9.05M · ±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
$97 / 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
$132,912
Tax year 2022
Assessed value
$2,181,880
Assessed 2023
Previous assessed
$2,181,880
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$549,160
Assessed improvement
$1,632,720
Land market value
$1,372,900
Improvement market value
$4,081,800
Total market value
$5,454,700
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1968
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
84,611 SF
Lot
11.25 ac (490,094 SF)
Zoning code
CMU-2
APN
072-073- - -00020-C
UPID
US80-2905408
Jurisdiction
SHELBY
Zoning & alternative use
CMU-2 · Memphis, TN
Zoning CMU-2 · permitted uses
CMU-2 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$6.2M
MEDICAL BUILDING
Est. value
$12.1M
OFFICE BUILDING
Est. value
$10.1M
AUTO REPAIR, GARAGE
Est. value
$8.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.5M
COMMERCIAL (GENERAL)
Est. value
$5.1M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1968
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
11.25 ac
Current owner
From public records · entity-resolved
TENALOK LLC
Entity
Free & Clear · 0 yrs held
Mailing address
701 N POST OAK RD STE #210, HOUSTON, TX 77024-4091
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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