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Property profile & analytics
OFF-MARKET
Office buildings
3088 Park Ave Memphis, TN 38111-3018
Entity Owned
2-yr Hold
Property ID
US80-0187875
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1940
Construction
FRAME
Total area
1,182 SF
Lot
0.19 ac (8,407 SF)
Zoning code
OG
APN
045-078- - -00049
UPID
US80-0187875
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
-
Blackhouse Recording Recording Studio
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Hayes Greem Properties LLC · 2 yrs held
Hayes Greem Properties LLC
since 2023
Last sale
$60,000
6 recorded transactions
Zoning & alternative use
OG · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,657
Tax year 2022
Assessed value
$27,200
Assessed 2023
Previous assessed
$27,200
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$6,720
Assessed improvement
$20,480
Land market value
$16,800
Improvement market value
$51,200
Total market value
$68,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1940
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
5
Bathrooms
1
Total area
1,182 SF
Lot
0.19 ac (8,407 SF)
Zoning code
OG
APN
045-078- - -00049
UPID
US80-0187875
Jurisdiction
SHELBY
Zoning & alternative use
OG · Memphis, TN
Zoning OG · permitted uses
OG · 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.
Building & site characteristics
From public records
Year built
1940
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
5
Bathrooms
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Hayes Greem Properties LLC
Entity
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 11, 2023
$60,000
Hayes Greem Properties LLC
Frankey J Anderson
Warranty Deed
—
Oct 2, 2018
—
Frankly J Anderson
Prude-anderson,chinna P
Quit Claim Deed
related
—
Aug 30, 2005
—
Frankey Anderson
—
Trustees Deed
related
$30,000 · Memphis First Community Bank
Oct 29, 2002
$42,000
Frankey Anderson
Citifinancial Mortgage Co
Grant Deed
$33,600 · Eagle Financial Services
Sep 3, 2002
$25,400
Citifinancial Mortgage Co
Jennings,marilyn
Trustees Deed
related
—
—
—
Frankey J Anderson
—
Deed Of Trust
related
$30,000 · Landmark Community Bank
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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