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Property profile & analytics
OFF-MARKET
Estimated value
$1,420,000
Hotels
2876 Lamar Ave Memphis, TN 38114-5020
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-2738950
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2017
Construction
FRAME
Total area
23,186 SF
Lot
1.97 ac (85,987 SF)
Zoning code
CMU-3
APN
059-016- - -00216-C
UPID
US80-2738950
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
$1.85M
Blend (final)
Blend
$1.42M
Owner & transaction history
VISTA LAMAR HOSPITALITY LLC
VISTA LAMAR HOSPITALITY LLC
Zoning & alternative use
CMU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.3M
+42.4%
Retail stores
$1.9M
+21.9%
Neighborhood: shopping center
$1.7M
+7.8%
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
HOTEL/MOTEL
$1,580,000
Current use
AUTO REPAIR, GARAGE
$2,250,000
Change: +42% · Conversion: Difficult
RETAIL STORES
$1,925,000
Change: +22% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,700,000
Change: +8% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,470,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.42M
Range $1.28M – $1.56M · ±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
$61 / 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
$49,927
Tax year 2022
Assessed value
$819,600
Assessed 2023
Previous assessed
$819,600
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$90,120
Assessed improvement
$729,480
Land market value
$225,300
Improvement market value
$1,823,700
Total market value
$2,049,000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
2017
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
23,186 SF
Lot
1.97 ac (85,987 SF)
Zoning code
CMU-3
APN
059-016- - -00216-C
UPID
US80-2738950
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.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$2.3M
RETAIL STORES
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
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
2017
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.97 ac
Current owner
From public records · entity-resolved
VISTA LAMAR HOSPITALITY LLC
Entity
Free & Clear · 0 yrs held
Mailing address
3067 WINDSTONE WAY, GERMANTOWN, TN 38138-7383
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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