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Property profile & analytics
OFF-MARKET
Estimated value
$1,755,000
Garden apartment buildings
288 Ctr St, Collierville, TN 38017-3028
Entity Owned
6-yr Hold
Property ID
US80-1701063
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1966
Total area
18,966 SF
Lot
0.99 ac (43,124 SF)
Zoning code
R-2
APN
C02-44 - - -00960
UPID
US80-1701063
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
-
Center Court Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.71M
CAP Approach
CAP
$2.20M
Comparable Approach
Comparable
$2.00M
Blend (final)
Blend
$1.76M
Owner & transaction history
Center Court Apartments LLC · 6 yrs held
Center Court Apartments LLC
since 2020
Last sale
$1.8M
7 recorded transactions
Zoning & alternative use
R-2 · Collierville, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.8M
+65.8%
Office building
$2.8M
+62.9%
Auto repair, garage
$1.9M
+12.0%
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 Collierville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Collierville 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
$1,455,000
ML approach
$1,710,000
CAP Approach
CAP Return
Estimation
6%
$2,380,000
6.5%
$2,195,000
7%
$2,040,000
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
Blend value · Realmo final
$1.76M
Range $1.58M – $1.93M · ±10% · vs last sale $1.80M (Apr 22 2020)
Last sale anchor
$1.80M
Apr 22 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
$93 / 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
$22,854
Tax year 2022
Assessed value
$447,240
Assessed 2023
Previous assessed
$447,240
+0.0% YoY
Effective rate
5.11%
On assessed value
Assessed land
$60,360
Assessed improvement
$386,880
Land market value
$150,900
Improvement market value
$967,200
Total market value
$1,118,100
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1966
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
24
Bathrooms
1
Total area
18,966 SF
Lot
0.99 ac (43,124 SF)
Zoning code
R-2
APN
C02-44 - - -00960
UPID
US80-1701063
Jurisdiction
SHELBY
Zoning & alternative use
R-2 · Collierville, TN
Zoning R-2 · permitted uses
R-2 · Collierville, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Collierville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$1.9M
RETAIL STORES
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1966
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
24
Bathrooms
1
Lot
0.99 ac
Current owner
From public records · entity-resolved
Center Court Apartments LLC
Entity
Mailing address
10115 E BELL RD, SCOTTSDALE, AZ 85260-2189
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 22, 2020
$1,800,000
Center Court Apartments LLC
Bigi LLC
Grant Deed
$1,595,000 · Financial Fed'l Bk
Apr 2, 2019
—
Bigi LLC
—
Trustees Deed
related
$75,000 · Community Bk/ms
Feb 27, 2018
—
Bigi LLC
—
Deed
related
$610,000 · Community Bk/ms
Aug 6, 2014
—
Bigi LLC
Itkiwitz,norman
Quit Claim Deed
related
—
Feb 18, 2014
$1,200,000
Norman Itkiwitz
Mpg Properties
Warranty Deed
—
Jul 1, 2008
—
Mpg Properties
—
Trustees Deed
related
—
Nov 26, 2007
—
Mpg Properties
—
Trustees Deed
related
$547,380 · Magna Bank NA
—
—
Itkowitz,norman
—
Deed Of Trust
related
$610,000 · Community Bk N Ms
—
—
Mpg Properties
—
Deed Of Trust
related
$700,000 · Magna Bank NA
—
—
Bigi LLC
—
Deed Of Trust
related
$610,000 · Community Bk/ms
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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