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Property profile & analytics
OFF-MARKET Estimated value $965,000
Apartment buildings

2881 Range Line Rd Memphis, TN 38127-1201

10,016 SF 17.5 ac lot Built 1973
Individually Owned 18-yr Hold ~ Est. High Equity
Property ID
US80-3141584
Property profile
Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Year built 1973
Total area 10,016 SF
Lot 17.5 ac (762,300 SF)
Zoning code RU-3
APN 072-047- - -00274
UPID US80-3141584
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
$1.10M
Comparable Approach Comparable
$821k
Blend (final) Blend
$965k
Owner & transaction history
Rynard Props Ridgecrest · 18 yrs held
Rynard Props Ridgecrest
since 2008
2 recorded transactions
2008
Price N/A
2008
$5.0M
Zoning & alternative use
RU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Housing Type RU-1 RU-2 RU-3 RU-4 RU-5 Conventional Side Yard House Cottage ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- -- Semi-Attached Two-Family Townhouse ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- ■ Large Home Stacked Townhouse Apartment   -- ■ ■ -- ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ = Permitted -- = not permitted  = permitted by Special Use Permit Building Regulations for Permitted Housing…

Zone name Residential Urban 3
General category RESIDENTIAL
Zone area 7,600.37 ac
Source CHAPTER 1
Top alternative use upside
Medical building $1.4M +60.8%
Office building $1.2M +34.1%
Auto repair, garage $970,000 +9.0%
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