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Property profile & analytics
OFF-MARKET Estimated value $4,450,000
Apartment buildings

3236 Millington Rd Memphis, TN 38127-6100

13,670 SF 4.71 ac lot Built 1964
Entity Owned 2-yr Hold
Property ID
US80-0447075
Property profile
Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Year built 1964
Total area 13,670 SF
Lot 4.71 ac (205,385 SF)
Zoning code RU-3
APN 069-033- - -00014-C
UPID US80-0447075
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
  • Divine Properties, LLC. Apartment Building Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$4.29M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$4.45M
Owner & transaction history
Urban Bayou Apartments LLC · 2 yrs held
Urban Bayou Apartments LLC
since 2023
Last sale
$4.6M
6 recorded transactions
2023
$4.6M
2017
$300,000
2016
$30,000
2016
Price N/A
2014
$80,000
2008
Price N/A
Zoning & alternative use
RU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Housing Type RU-1 RU-2 RU-3 RU-4 RU-5 Conventional Side Yard House Cottage ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- -- Semi-Attached Two-Family Townhouse ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ -- -- ■ Large Home Stacked Townhouse Apartment   -- ■ ■ -- ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ = Permitted -- = not permitted  = permitted by Special Use Permit Building Regulations for Permitted Housing…

Zone name Residential Urban 3
General category RESIDENTIAL
Zone area 7,600.37 ac
Source CHAPTER 1
Top alternative use upside
Restaurant $4.2M +246.2%
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