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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Strip malls
2930 3rd St Memphis, TN 38109-2954
Entity Owned
2-yr Hold
Free & Clear
Property ID
US80-1887085
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1992
Total area
8,440 SF
Lot
2.59 ac (112,777 SF)
Zoning code
EMP
APN
050-119- - -00045
UPID
US80-1887085
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
-
Jumpin Jimmy's Liquor (Bike/Boat/Book/etc) Store Wine and Liquor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$595k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$419k
Blend (final)
Blend
$595k
Owner & transaction history
Sweet Ej LLC · 2 yrs held
Sweet Ej LLC
since 2024
Last sale
$595,000
2 recorded transactions
Zoning & alternative use
EMP · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$820,000
+32.1%
Apartment house (5+ units)
$750,000
+21.2%
Retail stores
$700,000
+13.0%
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 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
$595,000
ML approach
$595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$620,000
Current use
AUTO REPAIR, GARAGE
$820,000
Change: +32% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$750,000
Change: +21% · Conversion: Difficult
RETAIL STORES
$700,000
Change: +13% · Conversion: Easy
COMMERCIAL (GENERAL)
$510,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$595k
Range $536k – $655k · ±10% · vs last sale $595k (Jun 3 2024)
Last sale anchor
$595k
Jun 3 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
$70 / 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
$4,581
Tax year 2022
Assessed value
$75,200
Assessed 2023
Previous assessed
$75,200
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$71,600
Assessed improvement
$3,600
Land market value
$179,000
Improvement market value
$9,000
Total market value
$188,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1992
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
8,440 SF
Lot
2.59 ac (112,777 SF)
Zoning code
EMP
APN
050-119- - -00045
UPID
US80-1887085
Jurisdiction
SHELBY
Zoning & alternative use
EMP · Memphis, TN
Zoning EMP · permitted uses
EMP · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$620,000
AUTO REPAIR, GARAGE
Est. value
$820,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$750,000
RETAIL STORES
Est. value
$700,000
COMMERCIAL (GENERAL)
Est. value
$510,000
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
COMMERCIAL (GENERAL)
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
1992
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.59 ac
Current owner
From public records · entity-resolved
Sweet Ej LLC
Entity
Free & Clear · 2 yrs held
Mailing address
2930 S 3RD ST, MEMPHIS, TN 38109-2954
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 3, 2024
$595,000
Sweet Ej LLC
James A Cross
Special Warranty Deed
—
Jun 9, 2021
—
James A Cross
James A Cross
Intrafamily Transfer
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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