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Property profile & analytics
OFF-MARKET
Estimated value
$3,040,000
Outlet malls
2856 Hickory Hl Rd Memphis, TN 38115-2173
Individually Owned
23-yr Hold
Free & Clear
Property ID
US80-0887500
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2003
Total area
40,504 SF
Lot
6.55 ac (285,274 SF)
Zoning code
CMU-2
APN
093-106- -E-00013-C
UPID
US80-0887500
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
-
Walmart Pet Services Kennel & Boarding Facility
-
Walmart Baby & Nursery Services Social Service Agency Community Center
-
Minute Key Locksmith (Bike/Boat/Book/etc) Store
-
Western Union Bank Credit Union
-
KeyMe Locksmiths Locksmith (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.06M
Blend (final)
Blend
$3.04M
Owner & transaction history
Wal-mart Real Estate Business · 23 yrs held
Wal-mart Real Estate Business
since 2002
1 recorded transaction
Zoning & alternative use
CMU-2 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.6M
+35.3%
Office building
$3.4M
+25.8%
Neighborhood: shopping center
$3.0M
+11.6%
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
RETAIL STORES
$2,665,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,605,000
Change: +35% · Conversion: Difficult
OFFICE BUILDING
$3,350,000
Change: +26% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,975,000
Change: +12% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,800,000
Change: +5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,445,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$3.04M
Range $2.74M – $3.34M · ±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
$75 / 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
$84,552
Tax year 2022
Assessed value
$1,388,000
Assessed 2023
Previous assessed
$1,388,000
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$409,280
Assessed improvement
$978,720
Land market value
$1,023,200
Improvement market value
$2,446,800
Total market value
$3,470,000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2003
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
40,504 SF
Lot
6.55 ac (285,274 SF)
Zoning code
CMU-2
APN
093-106- -E-00013-C
UPID
US80-0887500
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
RETAIL STORES Current
Est. value
$2.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.6M
OFFICE BUILDING
Est. value
$3.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.4M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
2003
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
6.55 ac
Current owner
From public records · entity-resolved
Wal-mart Real Estate Business
Individual
Free & Clear · 23 yrs held
Mailing address
PO BOX 8050, BENTONVILLE, AR 72712-8055
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 3, 2002
$1,280,260
Wal-mart Real Estate Business
Malco Appletree LLC
Grant 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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