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Property profile & analytics
OFF-MARKET
Estimated value
$945,000
Grocery and convenience stores
2864 Thomas St Memphis, TN 38127-7604
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US80-3233887
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
2010
Total area
2,555 SF
Lot
0.84 ac (36,590 SF)
Zoning code
CMU-3
APN
070-024- - -00174
UPID
US80-3233887
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
-
Thomas Food Mart Grocery & Convenience Store
-
Marathon Gas Grocery & Convenience Store
-
LibertyX Bitcoin ATM Atm
-
Fill N Go Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$944k
Blend (final)
Blend
$945k
Owner & transaction history
New Bd Development LLC · 5 yrs held
New Bd Development LLC
since 2020
Last sale
$1.3M
6 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
$1,075,000
ML approach
$1,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$945k
Range $851k – $1.04M · ±10% · vs last sale $1.30M (Dec 30 2020)
Last sale anchor
$1.30M
Dec 30 2020
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
$370 / 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
$10,487
Tax year 2022
Assessed value
$172,160
Assessed 2023
Previous assessed
$172,160
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$28,800
Assessed improvement
$143,360
Land market value
$72,000
Improvement market value
$358,400
Total market value
$430,400
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
2010
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
2,555 SF
Lot
0.84 ac (36,590 SF)
Zoning code
CMU-3
APN
070-024- - -00174
UPID
US80-3233887
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
2010
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.84 ac
Current owner
From public records · entity-resolved
New Bd Development LLC
Entity
Mailing address
2725 S MENDENHALL RD STE #27, MEMPHIS, TN 38115-1530
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2020
$1,300,000
New Bd Development LLC
Fill N Go INC
Warranty Deed
$994,000 · Bankplus
Nov 12, 2008
$55,000
Steven Williamson
Fill-n-go INC
Warranty Deed
—
Dec 4, 2007
$550,000
Fill-n-go INC
Circle K Stores INC
Grant Deed
—
Dec 29, 2005
$545,000
Circle K Stores INC
Bp Products North America INC
Grant Deed
—
—
—
Fill-n-go INC
—
Deed Of Trust
related
$300,000 · Private Individual
—
—
Fill-n-go INC
—
Deed Of Trust
related
$150,000 · Graves Oil Co
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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