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Property profile & analytics
FOR LEASE
Office Spaces
3249 W Sarazens Cir Memphis, TN 38125
Individually Owned
4-yr Hold
Free & Clear
Property ID
US80-0083800
For Lease
1 / 4
Contact for pricing
3249 W Sarazens Cir, Memphis, TN 38125
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Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2008
Total area
7,000 SF
Lot
0.09 ac (4,008 SF)
Zoning code
R-15
APN
081-079- -F-00004
UPID
US80-0083800
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
$565k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$900k
Blend (final)
Blend
$685k
Owner & transaction history
Reliable Financial Solutions · 4 yrs held
Reliable Financial Solutions
since 2022
Last sale
$700,000
6 recorded transactions
Zoning & alternative use
R-15 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.0M
+19.9%
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
$555,000
ML approach
$565,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$835,000
Current use
MEDICAL BUILDING
$1,000,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$680,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$685k
Range $617k – $754k · ±10% · vs last sale $700k (Jul 8 2022)
Last sale anchor
$700k
Jul 8 2022
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
$98 / 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
$16,879
Tax year 2022
Assessed value
$277,080
Assessed 2023
Previous assessed
$277,080
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$42,880
Assessed improvement
$234,200
Land market value
$107,200
Improvement market value
$585,500
Total market value
$692,700
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
For Lease
Year built
2008
Heating
FORCED AIR
Cooling
NONE
Stories
1
Total area
7,000 SF
Lot
0.09 ac (4,008 SF)
Zoning code
R-15
APN
081-079- -F-00004
UPID
US80-0083800
Jurisdiction
SHELBY
Zoning & alternative use
R-15 · Memphis, TNZoning R-15 · permitted uses
R-15 · Memphis, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$835,000
MEDICAL BUILDING
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$680,000
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
2008
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
Reliable Financial Solutions
Individual
Free & Clear · 4 yrs held
Mailing address
3249 W SARAZENS CIR, MEMPHIS, TN 38125-0807
Ownership since
2022
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
Jul 8, 2022
$700,000
Reliable Financial Solutions
James Roy Maddox JR
Warranty Deed
—
Dec 6, 2017
—
Maddox,james R JR Living Trust
Jms Partners
Quit Claim Deed
related
—
Nov 17, 2016
—
Jms Partners
—
Deed
related
$595,000 · Landmark Cmnty Bk
Oct 5, 2011
—
James Partners
—
Trustees Deed
related
$800,000 · First Citizens National Bank
Sep 18, 2007
$229,000
James Partners
Players Crossing Partners
Warranty Deed
$950,000 · Cadence Bank
—
—
Jms Partners
—
Deed Of Trust
related
$595,000 · Landmark Cmnty Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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