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Property profile & analytics
OFF-MARKET
Estimated value
$35,000,000
Manufacturing properties
3231 Paul R Lowry Rd Memphis, TN 38109-3027
Individually Owned
2-yr Hold
Free & Clear
Property ID
US80-1494346
Property profile
Verified
Property type
Manufacturing properties
Use group
MILL (FEED, GRAIN, LUMBER, TEXTILE)
Year built
2013
Total area
777,428 SF
Lot
217.41 ac (9,470,162 SF)
Zoning code
IH
APN
050-101- - -00067
UPID
US80-1494346
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
$35.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$35.00M
Owner & transaction history
Phoenix Memphis IV Industrial Invr · 2 yrs held
Phoenix Memphis IV Industrial Invr
since 2024
Last sale
$35.0M
6 recorded transactions
Zoning & alternative use
IH · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$57.1M
+78.8%
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
$35,000,000
ML approach
$35,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$31,915,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$57,070,000
Change: +79% · Conversion: Difficult
Blend value · Realmo final
$35.00M
Range $31.50M – $38.50M · ±10% · vs last sale $35.00M (May 28 2024)
Last sale anchor
$35.00M
May 28 2024
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
$45 / 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
$2,240,481
Tax year 2022
Assessed value
$36,779,600
Assessed 2023
Previous assessed
$36,779,600
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$1,899,840
Assessed improvement
$34,879,760
Land market value
$4,749,600
Improvement market value
$87,199,400
Total market value
$91,949,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Manufacturing properties
Use group
MILL (FEED, GRAIN, LUMBER, TEXTILE)
Status
Off-Market
Year built
2013
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
777,428 SF
Lot
217.41 ac (9,470,162 SF)
Zoning code
IH
APN
050-101- - -00067
UPID
US80-1494346
Jurisdiction
SHELBY
Zoning & alternative use
IH · Memphis, TN
Zoning IH · permitted uses
IH · 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
INDUSTRIAL (GENERAL) Current
Est. value
$31.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$57.1M
INDUSTRIAL (GENERAL) Current
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
2013
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Lot
217.41 ac
Current owner
From public records · entity-resolved
Phoenix Memphis IV Industrial Invr
Individual
Free & Clear · 2 yrs held
Mailing address
401 E KILBOURN AVE STE #201, MILWAUKEE, WI 53202-3212
Ownership since
2024
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
May 28, 2024
—
Phoenix Memphis IV Industrial Invr
Phoenix Memphis IV Industrial Invr
Quit Claim Deed
related
—
Jan 9, 2024
$34,999,990
Phoenix Memphis IV Industrial Invr
Electrolux Home Products INC
Special Warranty Deed
$225,000,000 · Ubs Ag Tampa Branch
Mar 7, 2019
$1,000
Electrolux Home Products INC
Industrial Dev Board Of The Ci
Quit Claim Deed
related
—
Aug 20, 2014
—
City Of Memphis Tn
Shelby Cnty Tennessee
Quit Claim Deed
related
—
Dec 31, 2013
—
Electrolux Home Products INC
Memphis & Shelby Cnty Port Com
Quit Claim Deed
related
—
Sep 14, 2011
—
Memphis Com
City Of Memphis
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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