New search
Property profile & analytics
FOR LEASE
Hotels
2800 N Germantown Pkwy Memphis, TN 38133
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US80-0686324
For Lease
1 / 12
$3,595,000
2800 N Germantown Pkwy, Memphis, TN 38133
View Listing →
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1996
Total area
151,630 SF
Lot
9.97 ac (434,250 SF)
Zoning code
CMU-3
APN
092-007- - -00010
UPID
US80-0686324
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
-
Prince jewelry (Bike/Boat/Book/etc) Store
-
Sears Garage Doors & Openers Building Supply General Contractor
-
Sears Department Store
-
Sears Appliance Repair Hardware & Home Improvement HVAC Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.63M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.54M
Blend (final)
Blend
$3.60M
Owner & transaction history
Shops At Cordova I LLC · 3 yrs held
Shops At Cordova I LLC
since 2023
Last sale
$3.6M
3 recorded transactions
Zoning & alternative use
CMU-3 · 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
$3,490,000
ML approach
$3,630,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.60M
Range $3.24M – $3.95M · ±10% · vs last sale $3.63M (May 2 2023)
Last sale anchor
$3.63M
May 2 2023
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
$24 / 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
$122,739
Tax year 2022
Assessed value
$2,014,880
Assessed 2023
Previous assessed
$2,014,880
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$1,415,880
Assessed improvement
$599,000
Land market value
$3,539,700
Improvement market value
$1,497,500
Total market value
$5,037,200
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
Hotels
Use group
HOTEL
Status
For Lease
Year built
1996
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
151,630 SF
Lot
9.97 ac (434,250 SF)
Zoning code
CMU-3
APN
092-007- - -00010
UPID
US80-0686324
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.
Building & site characteristics
From public records
Year built
1996
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
9.97 ac
Current owner
From public records · entity-resolved
Shops At Cordova I LLC
Entity
Mailing address
4300 SIGMA RD STE #100, DALLAS, TX 75244-4422
Ownership since
2023
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
May 2, 2023
$3,625,000
Shops At Cordova I LLC
Shops At Cordova I LLC
Special Warranty Deed
$5,751,585 · American National Bank & Trust
Dec 17, 2019
—
Seritage Src Finance LLC
—
Grant Deed
related
$2,000,000,000 · Berkshire S Hathaway Life Ins
Jul 10, 2015
$9,426,352
Seritage Src Finance LLC
Sears Roebuck & Co
Grant Deed
related
$7,888,337 · Jp Morgan Chase Bk
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
