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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    288 Ctr St Collierville, TN 38017-3028

    • Garden apartment buildings
    • 18,966 SF
    • 0.99 lot acres
    OFF-MARKET
    Last Sale
    Apr 22, 2020
    $1,800,000
    Value Estimations
    $1,755,000
    Show details
    Cap Rate Potential
    9.8%
    Garden apartment buildings
    Location Intelligence
    Property ID
    US80-1701063
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Center Court Apartments / Apartment Complex

    Property Details for 288 Ctr St

    Year built
    1966
    Lot size
    0.99 lot acres
    Property size
    18,966 SF
    Zone code
    R-2
    Property type
    Garden apartment buildings
    APN
    C02-44 - - -00960
    APU
    C024400960

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,455,000
      ML approach
      $1,710,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,380,000
      6.5%
      $2,195,000
      7%
      $2,040,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,997,000
      Market price range: $847k - $3.14M
      AI Estimate
      $1,156,000
      Market price range: $493k - $1.60M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,695,000
      Current use
      MEDICAL BUILDING
      $2,805,000
      Change: +66% Conversion: Moderate
      OFFICE BUILDING
      $2,760,000
      Change: +63% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,895,000
      Change: +12% Conversion: Difficult
      RETAIL STORES
      $1,705,000
      Change: +1% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,690,000
      Change: -0% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Collierville
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.6652
    Latitude
    35.0373
    CBSA code
    32820
    CBSA name
    MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $22,854
    $60,360
    $386,880
    $447,240
    -
    $150,900
    $967,200
    $1,118,100

    Comparable in this City

    • Value Estimation
      $1,125,000
      17,790 SF

      801 Quinn Rd

      GARDEN APT, COURT APT (5+ UNITS) • 17,790 SF
      801 Quinn Rd, Collierville, TN 38017
      View Details
    • Value Estimation by Request
      4,896 SF

      245 Aldersgate St

      GARDEN APT, COURT APT (5+ UNITS) • 4,896 SF
      245 Aldersgate St, Collierville, TN 38017-2131
      View Details
    • Value Estimation
      $3,730,000
      23,072 SF

      325 Ctr St

      GARDEN APT, COURT APT (5+ UNITS) • 23,072 SF
      325 Ctr St, Collierville, TN 38017-3038
      View Details
    • Value Estimation
      $625,000
      5,966 SF

      130 Ctr St

      GARDEN APT, COURT APT (5+ UNITS) • 5,966 SF
      130 Ctr St, Collierville, TN 38017
      View Details
    • Value Estimation
      $1,670,000
      4,350 SF

      282 Ctr St

      APARTMENT HOUSE (5+ UNITS) • 4,350 SF
      282 Ctr St, Collierville, TN 38017-3002
      View Details
    • Value Estimation
      $700,000
      6,094 SF

      1074 Winchester Blvd

      APARTMENT HOUSE (5+ UNITS) • 6,094 SF
      1074 Winchester Blvd, Collierville, TN 38017-3671
      View Details

    Similar Nearby for Sale

    • $1,400,000

      Collierville Office Land Investment Opportunity

      Prime 3.39-Acre Office Development Site
      Houston Levee Rd, Collierville, TN 38017
      View Details
    • Contact for pricing
      1.00 Acre

      Collierville Industrial Land Opportunity

      Prime 1-acre lot, mixed-use potential.
      184 Mount Pleasant Rd, Collierville, TN 38017
      View Details
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      0.50 Acres

      Collierville Commercial Land - 8.4 Acres

      Prime Collierville location, high traffic, development potential.
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    • Contact for pricing
      43.60 Acres

      Collierville Commercial Land - 43.6 Acres

      High-visibility commercial land, Hwy 385 frontage.
      4625 Houston Levee Rd, Collierville, TN 38017
      View Details
    • $1,500,000
      6,000 SF

      Collierville Office Condominium For Sale

      Office condominium for sale near Town Hall and Chamber of Commerce.
      468 Halle Park Dr, Collierville, TN 38017
      View Details
    • Contact for pricing

      40 Acres Near Walmart Supercenter

      40 acres available near retailers and restaurants.
      W Poplar Ave & Byhalia Rd, Collierville, TN 38017
      View Details

    Similar Nearby for Lease

    • $32 SF/Yr
      10,594 SF

      Collierville Retail Space - 1,340 SF

      Prime Collierville retail space, 1,340 sq ft, ready for tenant build-out.
      9959 Winchester Rd, Collierville, TN 38017
      View Details
    • Contact for pricing
      10,731 SF

      Collierville Retail Space Available

      High-traffic retail space, 4,300 sq ft available.
      10210 Collierville Rd, Collierville, TN 38017
      View Details
    • Contact for pricing

      Collierville Shopping Center For Lease

      Fully leased 65,900 SF shopping center in Collierville, Tennessee.
      3660 S Houston Levee Rd, Collierville, TN 38017
      View Details
    • Contact for pricing
      7,875 SF

      Collierville Retail Development Opportunity

      Proposed retail buildings in the heart of Collierville's residential area.
      N Byhalia Rd, Collierville, TN 38017
      View Details
    • Contact for pricing
      33,200 SF

      Ashby Square Retail Center

      Collierville, TN: New Retail Space Available
      0 New Byhalia Rd, Collierville, TN 38017
      View Details
    • Contact for pricing
      403,642 SF

      City Center Retail Space Available

      Collierville, TN Strip Mall - High Traffic
      622 Poplar Ave, Collierville, TN 38017
      View Details
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    288 Ctr St
    Collierville, TN 38017-3028
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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