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Property profile & analytics
OFF-MARKET
Estimated value
$2,915,000
Strip malls
3315 Hacks Cross Rd, Memphis, TN 38125-8935
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US80-1387377
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Total area
15,403 SF
Lot
1.49 ac (65,122 SF)
Zoning code
R-15
APN
081-079- - -00067
UPID
US80-1387377
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
-
Consolidated Health Services of Memphis, PLLC Medical Clinic
-
Melvin Friedman Physician
-
Herbalife Tiger Nutrition Cafe & Coffee Shop
-
Your CBD Store | SUNMED - Hacks Cross, TN (Memphis) Specialty Food Shop Grocery & Convenience Store
-
The Rx Shoppe Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.74M
CAP Approach
CAP
$3.18M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.92M
Owner & transaction history
Gregory Realty Gp · 3 yrs held
Gregory Realty Gp
since 2022
Last sale
$3.1M
6 recorded transactions
Zoning & alternative use
R-15 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.7M
+319.5%
Medical building
$2.2M
+94.9%
Office building
$1.8M
+62.5%
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
$2,465,000
ML approach
$2,740,000
CAP Approach
CAP Return
Estimation
6%
$3,440,000
6.5%
$3,175,000
7%
$2,945,000
Alternative Use
Use
Estimation
RESTAURANT
$4,745,000
Change: +319% · Conversion: Difficult
MEDICAL BUILDING
$2,205,000
Change: +95% · Conversion: Difficult
OFFICE BUILDING
$1,835,000
Change: +62% · Conversion: Moderate
Blend value · Realmo final
$2.92M
Range $2.62M – $3.21M · ±10% · vs last sale $3.10M (Sep 8 2022)
Last sale anchor
$3.10M
Sep 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
$189 / 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
$55,675
Tax year 2022
Assessed value
$913,960
Assessed 2023
Previous assessed
$913,960
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$250,040
Assessed improvement
$663,920
Land market value
$625,100
Improvement market value
$1,659,800
Total market value
$2,284,900
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2005
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
15,403 SF
Lot
1.49 ac (65,122 SF)
Zoning code
R-15
APN
081-079- - -00067
UPID
US80-1387377
Jurisdiction
SHELBY
Zoning & alternative use
R-15 · Memphis, TN
Zoning 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
Memphis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$4.7M
MEDICAL BUILDING
Est. value
$2.2M
OFFICE BUILDING
Est. value
$1.8M
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
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
2005
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.49 ac
Current owner
From public records · entity-resolved
Gregory Realty Gp
Entity
Mailing address
PO BOX 382366, GERMANTOWN, TN 38183-2366
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
Sep 8, 2022
$3,100,000
Gregory Realty Gp
Judith L Oberrneier
Special Warranty Deed
$2,170,000 · Simmons Bank
Mar 9, 2020
—
Judith L Obermeier
Carroll M J & Obermeie Trust
Quit Claim Deed
related
—
Apr 19, 2018
—
Carroll,michael J Trust
Obermeier,judith L
Quit Claim Deed
related
—
Dec 12, 2017
$2,700,000
Judith L Obermeier
3315 Hacks Cross Center LLC
Grant Deed
$1,932,675 · Guaranty Bk
Jun 22, 2016
$2,238,000
3315 Hacks Cross Center LLC
Joe Poppenheimer Mgmt LLC
Grant Deed
$2,775,120 · Citizens Nat'l Bk/meridian
Oct 1, 2007
$3,016,224
Joe Poppenheimer Mgmt LLC
Parkway Exchange LLC
Grant Deed
$2,250,000 · Miscellaneous Ins Co
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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