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Property profile & analytics
OFF-MARKET
Estimated value
$1,655,000
Office buildings
345 Adams Ave, Memphis, TN 38103-1913
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-0456101
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1953
Total area
17,190 SF
Lot
1.31 ac (56,889 SF)
Zoning code
CBD
APN
023-008- - -00002-C
UPID
US80-0456101
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
-
Meritan Home Health Care Service Employment Agency
-
COVID-19 vaccine location - Meritan Medical Laboratory
-
Woodson-Tenent Laboratories,Inc. Laboratory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.75M
Blend (final)
Blend
$1.66M
Owner & transaction history
Meritan INC · 1 yrs held
Meritan INC
since 2024
7 recorded transactions
Zoning & alternative use
CBD · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.5M
+40.6%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,750,000
Current use
MEDICAL BUILDING
$2,460,000
Change: +41% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,665,000
Change: -5% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,530,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$1.66M
Range $1.49M – $1.82M · ±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
$96 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$53,325
Tax year 2021
Land market value
$304,200
Improvement market value
$1,654,900
Total market value
$1,959,100
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1953
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
17,190 SF
Lot
1.31 ac (56,889 SF)
Zoning code
CBD
APN
023-008- - -00002-C
UPID
US80-0456101
Jurisdiction
SHELBY
Zoning & alternative use
CBD · Memphis, TN
Zoning CBD · permitted uses
CBD · 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
OFFICE BUILDING Current
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1953
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.31 ac
Current owner
From public records · entity-resolved
Meritan INC
Entity
Free & Clear · 1 yrs held
Mailing address
4700 POPLAR AVE STE #400, MEMPHIS, TN 38117-4411
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 23, 2024
$1,578,000
Meritan INC
Generations INC
Warranty Deed
—
Mar 8, 2018
—
Generations INC
—
Deed
related
$1,529,944 · Patriot Bk/s Tipton
Mar 31, 2017
—
Generations INC
—
Trustees Deed
related
$1,530,000 · Patriot Bk
Jun 7, 2016
$120,000
Generations INC
Memphis Bioworks Foundation
Grant Deed
—
Sep 25, 2009
$390,000
Memphis Bioworks Foundation
Eurofins Scientific INC
Warranty Deed
—
Sep 25, 2009
—
Memphis Bioworks Foundation
Eurofins Scientific INC
Quit Claim Deed
related
—
—
—
Generations INC
—
Loan Modification
related
$1,529,944 · Patriot Bk/s Tipton
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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