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Property profile & analytics
OFF-MARKET
Estimated value
$12,055,000
Apartment buildings
3200 Germantown Rd Memphis, TN 38119
Entity Owned
22-yr Hold
Free & Clear
Property ID
US80-1914186
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1997
Total area
100,464 SF
Lot
33.59 ac (1,463,398 SF)
Zoning code
R-10
APN
081-079- - -00013
UPID
US80-1914186
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
$11.54M
Comparable Approach
Comparable
$16.14M
Blend (final)
Blend
$12.06M
Owner & transaction history
Wyndham LLC · 22 yrs held
Wyndham LLC
since 2003
1 recorded transaction
Zoning & alternative use
R-10 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$14.4M
+60.8%
Office building
$13.8M
+54.0%
Auto repair, garage
$9.7M
+9.0%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$12,505,000
6.5%
$11,540,000
7%
$10,715,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$8,935,000
Current use
MEDICAL BUILDING
$14,370,000
Change: +61% · Conversion: Moderate
OFFICE BUILDING
$13,765,000
Change: +54% · Conversion: Moderate
AUTO REPAIR, GARAGE
$9,740,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$8,335,000
Change: -7% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,375,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$12.06M
Range $10.85M – $13.26M · ±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
$120 / 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
$585,560
Tax year 2022
Assessed value
$9,612,520
Assessed 2023
Previous assessed
$9,612,520
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$902,960
Assessed improvement
$8,709,560
Land market value
$2,257,400
Improvement market value
$21,773,900
Total market value
$24,031,300
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
1997
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
5
Stories
1
Units
92
Bathrooms
4
Total area
100,464 SF
Lot
33.59 ac (1,463,398 SF)
Zoning code
R-10
APN
081-079- - -00013
UPID
US80-1914186
Jurisdiction
SHELBY
Zoning & alternative use
R-10 · Memphis, TN
Zoning R-10 · permitted uses
R-10 · 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
$8.9M
MEDICAL BUILDING
Est. value
$14.4M
OFFICE BUILDING
Est. value
$13.8M
AUTO REPAIR, GARAGE
Est. value
$9.7M
RETAIL STORES
Est. value
$8.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.4M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1997
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
5
Units
92
Bathrooms
4
Lot
33.59 ac
Current owner
From public records · entity-resolved
Wyndham LLC
Entity
Free & Clear · 22 yrs held
Mailing address
9075 FRST CTR DR, GERMANTOWN, TN 38138-7855
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 13, 2003
—
Wyndham LLC
Richard & Milton Grant Co
Quit Claim Deed
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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