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Property profile & analytics
OFF-MARKET
Estimated value
$2,200,000
Apartment buildings
2774 Mendenhall Rd Memphis, TN 38115-1725
Individually Owned
14-yr Hold
Absentee Owner
Property ID
US80-0508808
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1969
Total area
24,420 SF
Lot
23.76 ac (1,034,811 SF)
Zoning code
RU-3
APN
074-089- - -00048
UPID
US80-0508808
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.17M
Blend (final)
Blend
$2.20M
Owner & transaction history
Health Educational · 14 yrs held
Health Educational
since 2012
3 recorded transactions
Zoning & alternative use
RU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.5M
+60.8%
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
APARTMENT HOUSE (5+ UNITS)
$2,170,000
Current use
MEDICAL BUILDING
$3,495,000
Change: +61% · Conversion: Moderate
OFFICE BUILDING
$2,020,000
Change: -7% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,795,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$2.20M
Range $1.98M – $2.42M · ±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
$90 / 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
$32,932
Tax year 2021
Land market value
$2,431,800
Improvement market value
$11,694,600
Total market value
$14,126,400
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1969
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
34
Stories
1
Units
15
Bathrooms
61
Total area
24,420 SF
Lot
23.76 ac (1,034,811 SF)
Zoning code
RU-3
APN
074-089- - -00048
UPID
US80-0508808
Jurisdiction
SHELBY
Zoning & alternative use
RU-3 · Memphis, TN
Zoning RU-3 · permitted uses
RU-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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$3.5M
OFFICE BUILDING
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
FORCED AIR
Cooling
Yes
Stories
1
Buildings
34
Units
15
Bathrooms
61
Lot
23.76 ac
Current owner
From public records · entity-resolved
Health Educational
Individual
Mailing address
7455 FRANCE AVE S #381, BLOOMINGTON, MN 55435-4702
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 12, 2012
—
Health Educational
New Life Core Willow Lake LLC
Grant Deed
$6,990,000 · Key Bank & Trust
Nov 16, 2011
$7,800,000
New Life Core Willow Lake LLC
Nw-willow Lakes LLC
Grant Deed
$6,990,000 · Key Bank & Trust
Apr 23, 2010
$7,000,000
Nw-willow Lakes LLC
Ottinger Bradley L
Trustees 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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