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Property profile & analytics
FOR LEASE
Warehouses
2700 Summer Ave Memphis, TN 38112
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US80-1725535
For Lease
1 / 2
$550,000
2700 Summer Ave, Memphis, TN 38112
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1969
Total area
32,211 SF
Lot
1.22 ac (53,143 SF)
Zoning code
EMP
APN
052-041- - -00020-C
UPID
US80-1725535
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$485k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$611k
Blend (final)
Blend
$550k
Owner & transaction history
Dewayne Jones Ents LLC · 8 yrs held
Dewayne Jones Ents LLC
since 2018
7 recorded transactions
Zoning & alternative use
EMP · 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
$485,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$840,000
Current use
Blend value · Realmo final
$550k
Range $495k – $605k · ±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
$17 / 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
$1,577
Tax year 2022
Assessed value
$25,880
Assessed 2023
Previous assessed
$25,880
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$22,760
Assessed improvement
$3,120
Land market value
$56,900
Improvement market value
$7,800
Total market value
$64,700
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
For Lease
Year built
1969
Heating
SPACE
Cooling
NONE
Stories
1
Total area
32,211 SF
Lot
1.22 ac (53,143 SF)
Zoning code
EMP
APN
052-041- - -00020-C
UPID
US80-1725535
Jurisdiction
SHELBY
Zoning & alternative use
EMP · Memphis, TN
Zoning EMP · permitted uses
EMP · 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
$840,000
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
1969
Heating
SPACE
Cooling
Yes
Stories
1
Lot
1.22 ac
Current owner
From public records · entity-resolved
Dewayne Jones Ents LLC
Entity
Mailing address
PO BOX 22407, MEMPHIS, TN 38122-0407
Ownership since
2018
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 23, 2023
—
Dewayne Jones Enterprises LLC
—
Deed
related
$866,517 · Bank3
Dec 13, 2018
—
Dewayne Jones Ents Ltd Liabili
—
Deed
related
—
Nov 15, 2018
—
Dewayne Jones Ents LLC
—
Deed
related
$640,225 · Bank3
Apr 4, 2018
$775,000
Dewayne Jones Ents LLC
Hollis,samuel B
Warranty Deed
$620,000 · Bank3
Jan 26, 2009
—
Samuel B Hollis SR.
—
Trustees Deed
related
$400,000 · First Tennessee Bank National
Apr 24, 2003
—
Samuel B Hollis
Nichol,w L Tr
Quit Claim Deed
related
—
—
—
Dewayne Jones Ents Ltd Liabili
—
Deed Of Trust
related
—
—
—
Dewayne Jones Ents LLC
—
Deed Of Trust
related
$640,225 · Bank3
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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