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Property profile & analytics
FOR SALE
Garden apartment buildings
31 S Mclean Blvd, Memphis, TN 38104
Entity Owned
25-yr Hold
Property ID
US80-1100671
For Sale
1 / 16
$1,650,000
31 S Mclean Blvd, Memphis, TN 38104
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Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1925
Total area
15,688 SF
Lot
0.44 ac (19,384 SF)
Zoning code
RU-4
APN
017-047- - -00006
UPID
US80-1100671
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
by Request
Comparable Approach
Comparable
$1.58M
Blend (final)
Blend
$1.18M
Owner & transaction history
1792 Madison Avenue Corp · 25 yrs held
1792 Madison Avenue Corp
since 2000
2 recorded transactions
Zoning & alternative use
RU-4 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.9M
+38.0%
Office building
$1.8M
+29.6%
Auto repair, garage
$1.5M
+11.1%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,370,000
Current use
RETAIL STORES
$1,890,000
Change: +38% · Conversion: Difficult
OFFICE BUILDING
$1,775,000
Change: +30% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,520,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,150,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.18M
Range $1.06M – $1.29M · ±10%
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
$75 / 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
$20,073
Tax year 2022
Assessed value
$329,520
Assessed 2023
Previous assessed
$329,520
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$28,520
Assessed improvement
$301,000
Land market value
$71,300
Improvement market value
$752,500
Total market value
$823,800
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
For Sale
Year built
1925
Heating
FORCED AIR
Cooling
NONE
Stories
1
Units
16
Bathrooms
1
Total area
15,688 SF
Lot
0.44 ac (19,384 SF)
Zoning code
RU-4
APN
017-047- - -00006
UPID
US80-1100671
Jurisdiction
SHELBY
Zoning & alternative use
RU-4 · Memphis, TN
Zoning RU-4 · permitted uses
RU-4 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.4M
RETAIL STORES
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1925
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
16
Bathrooms
1
Lot
0.44 ac
Current owner
From public records · entity-resolved
1792 Madison Avenue Corp
Entity
Mailing address
PO BOX 38914, GERMANTOWN, TN 38183-0914
Ownership since
2000
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
Sep 4, 2015
—
Superior Property & Mgmt LLC
—
Grant Deed
related
$3,200,000 · Suntrust Bk
Aug 15, 2000
$575,000
1792 Madison Avenue Corp
Walton,anthony L
Grant Deed
$593,581 · National Bank Commerce Tr & Sa
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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