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Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Grocery and convenience stores
3135 New Horn Lk Rd Memphis, TN 38109-2810
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US80-1226964
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1989
Total area
1,400 SF
Lot
0.71 ac (30,710 SF)
Zoning code
CMU-1
APN
075-058- - -00002-C
UPID
US80-1226964
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
-
Horn Lake Food Mart Grocery & Convenience Store
-
BP Gas Station
-
Bitcoin of America ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$860k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$880k
Owner & transaction history
3135 New Horn Lake Express LLC · 2 yrs held
3135 New Horn Lake Express LLC
since 2023
Last sale
$900,000
3 recorded transactions
Zoning & alternative use
CMU-1 · 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
Method
Estimation
Statistic approach
$865,000
ML approach
$860,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$880k
Range $792k – $968k · ±10% · vs last sale $900k (Oct 6 2023)
Last sale anchor
$900k
Oct 6 2023
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
$629 / 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
$7,368
Tax year 2022
Assessed value
$120,960
Assessed 2023
Previous assessed
$120,960
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$17,640
Assessed improvement
$103,320
Land market value
$44,100
Improvement market value
$258,300
Total market value
$302,400
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1989
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
1,400 SF
Lot
0.71 ac (30,710 SF)
Zoning code
CMU-1
APN
075-058- - -00002-C
UPID
US80-1226964
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.
Building & site characteristics
From public records
Year built
1989
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.71 ac
Current owner
From public records · entity-resolved
3135 New Horn Lake Express LLC
Entity
Mailing address
325 S BYHALIA RD, COLLIERVILLE, TN 38017-9393
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 6, 2023
$900,000
3135 New Horn Lake Express LLC
Fozia Ibrahim
Warranty Deed
$598,500 · Planters Bank & Trust Co
Feb 9, 2006
$400,000
Lam K C Trust
Tessema,bezuneh
Warranty Deed
—
—
—
Bezuneh Tessema
—
Deed Of Trust
related
$35,300 · T D L Contractors INC
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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