You're browsing as guest. Top-line numbers are free. Full reports — owner contacts, refine, methodology — are paid. Guest mode. Top-line is free.
Back to Search
Property profile & analytics
OFF-MARKET Estimated value $810,000
Garden apartment buildings

2931 Park Ave Memphis, TN 38114-2726

8,410 SF 0.88 ac lot Built 1940
Individually Owned 8-yr Hold Absentee Owner
Property ID
US80-0451459
Property profile
Verified
Property type Garden apartment buildings
Use group GARDEN APT, COURT APT (5+ UNITS)
Year built 1940
Total area 8,410 SF
Lot 0.88 ac (38,159 SF)
Zoning code CMU-1
APN 059-002- - -00003-C
UPID US80-0451459
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
$965k
Comparable Approach Comparable
$836k
Blend (final) Blend
$810k
Owner & transaction history
Peter W Wofford · 8 yrs held
Peter W Wofford
since 2018
7 recorded transactions
2018
$650,000
2017
Price N/A
2016
Price N/A
2014
$60,000
2013
$125,000
2012
Price N/A
2012
$225,000
Zoning & alternative use
CMU-1 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

PRINCIPAL USE R6 RU-1 RU-3 CMU-1 CMU-2 CMP-2 Woodworking, including Cabinet Makers and Furniture Manufacturing □ ■ Warehouse □ □ Recycling Drop-off Facility □ □ □ Neighborhood Garden ■ ■ ■ ■ ■ ■ Planned Development1 □ □ □ 1. Planned Developments approved prior to the adoption of the University District Overlay (July 22, 2009) are not affected. Definitions Fo…

Zone name Commercial Mixed Use 1
General category MIXED_USE
Zone area 3,556.17 ac
Source CHAPTER 1
Top alternative use upside
Medical building $1.2M +125.7%
Office building $1.0M +88.2%
Auto repair, garage $815,000 +52.9%
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2931 Park Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message