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Property profile & analytics
OFF-MARKET
Turn key restaurants
2804 Frayser Blvd Memphis, TN 38127-4835
Individually Owned
24-yr Hold
Free & Clear
Property ID
US80-0160483
Property summary
AI-generated overview
This 4,811 square foot commercial property, located at 2804 Frayser Blvd in Memphis, Tennessee, is available for $849,900. Built in 1974, this single-story building sits on a 1.02-acre lot and is zoned for commercial use. The property boasts a high-traffic location, within walking distance of Nike and Amazon, offering excellent visibility and accessibility. Previously used as a restaurant and party venue, this versatile space is suitable for a variety of uses. The sale includes all existing light fixtures, window treatments, equipment, appliances, and furnishings. Ample parking is available on the nearly one-acre lot. The property features a price per square foot of $176.66. The Shelby County Assessor's Parcel Number (APN) is 072106 00037. This is a fully operational, vacant space ready for immediate occupancy. Don't miss this exceptional opportunity!
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1974
Construction
FRAME
Total area
4,811 SF
Lot
0.93 ac (40,598 SF)
Zoning code
CMU-1
APN
072-106- - -00037
UPID
US80-0160483
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
-
Tony's Party Place Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Tanios Elkareh · 24 yrs held
Tanios Elkareh
since 2002
4 recorded transactions
Zoning & alternative use
CMU-1 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$7,868
Tax year 2022
Assessed value
$129,160
Assessed 2023
Previous assessed
$129,160
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$48,240
Assessed improvement
$80,920
Land market value
$120,600
Improvement market value
$202,300
Total market value
$322,900
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1974
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
4,811 SF
Lot
0.93 ac (40,598 SF)
Zoning code
CMU-1
APN
072-106- - -00037
UPID
US80-0160483
Jurisdiction
SHELBY
Zoning & alternative use
CMU-1 · Memphis, TN
Zoning CMU-1 · permitted uses
CMU-1 · 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
1974
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.93 ac
Current owner
From public records · entity-resolved
Tanios Elkareh
Individual
Free & Clear · 24 yrs held
Mailing address
3161 SCENIC HWY, MEMPHIS, TN 38128-2930
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2019
—
Tanios Kareh
—
Deed
related
$594,000 · Simmons Bk
Jun 19, 2002
$150,000
Tanios Elkareh
Warren,george E & Timothy G
Grant Deed
—
Jun 11, 2002
$149,000
George S Warren
Berlin,leon
Grant Deed
—
—
—
Tanios Kareh
—
Deed Of Trust
related
$594,000 · Simmons 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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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