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Property profile & analytics
OFF-MARKET
Estimated value
$2,015,000
Retail space
2918 Poplar Ave Memphis, TN 38111-2722
Entity Owned
1-yr Hold
Free & Clear
Property ID
US80-1821480
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1959
Total area
8,830 SF
Lot
0.26 ac (11,543 SF)
Zoning code
CMU-1
APN
037-033- - -00024
UPID
US80-1821480
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
-
Amro Music Stores Inc (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.02M
CAP Approach
CAP
$1.36M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.02M
Owner & transaction history
R F Properties LLC · 1 yrs held
R F Properties LLC
since 2024
Last sale
$2.0M
3 recorded transactions
Zoning & alternative use
CMU-1 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.7M
+249.4%
Medical building
$1.3M
+62.3%
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
$2,015,000
ML approach
$2,015,000
CAP Approach
CAP Return
Estimation
6%
$1,470,000
6.5%
$1,355,000
7%
$1,260,000
Alternative Use
Use
Estimation
RESTAURANT
$2,720,000
Change: +249% · Conversion: Easy
MEDICAL BUILDING
$1,265,000
Change: +62% · Conversion: Difficult
Blend value · Realmo final
$2.02M
Range $1.81M – $2.22M · ±10% · vs last sale $2.01M (Sep 18 2024)
Last sale anchor
$2.01M
Sep 18 2024
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
$228 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$11,460
Tax year 2023
Assessed value
$188,120
Assessed 2024
Previous assessed
$188,120
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$47,080
Assessed improvement
$141,040
Land market value
$117,700
Improvement market value
$352,600
Total market value
$470,300
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1959
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
8,830 SF
Lot
0.26 ac (11,543 SF)
Zoning code
CMU-1
APN
037-033- - -00024
UPID
US80-1821480
Jurisdiction
SHELBY
Zoning & alternative use
CMU-1 · Memphis, TN
Zoning CMU-1 · permitted uses
CMU-1 · 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
RESTAURANT
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$1.3M
RESTAURANT
MEDICAL BUILDING
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
1959
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
R F Properties LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2918 POPLAR AVE, MEMPHIS, TN 38111-2722
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 18, 2024
$2,014,000
R F Properties LLC
Patrick John Averwater
Warranty Deed
—
Dec 12, 2022
—
Patrick John Averwat
Patrick John Averwat
Intrafamily Transfer
related
—
Nov 8, 2005
—
Ronald P Averwater
Averwater,ronald J
Quit Claim Deed
related
—
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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