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Property profile & analytics
OFF-MARKET
Estimated value
$7,035,000
Outlet malls
3469 Riverdale Rd Memphis, TN 38115-4400
Entity Owned
9-yr Hold
Free & Clear
Property ID
US80-0463292
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1996
Total area
101,800 SF
Lot
12.4 ac (540,275 SF)
Zoning code
CA
APN
093-500- - -00489
UPID
US80-0463292
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
-
Pro Desk at The Home Depot Big Box & Wholesale Store Building Supply
-
Penske Truck Rental Car Rental Facility
-
Compact Power Equipment Rental (Bike/Boat/Book/etc) Store Rental Equipment Company
-
Tool & Truck Rental Center at The Home Depot (Bike/Boat/Book/etc) Store Rental Equipment Company
-
The Home Depot Building Supply Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.74M
Blend (final)
Blend
$7.04M
Owner & transaction history
Spirit Master Funding X LLC · 9 yrs held
Spirit Master Funding X LLC
since 2017
4 recorded transactions
Zoning & alternative use
CA · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$9.1M
+35.3%
Office building
$8.4M
+25.8%
Neighborhood: shopping center
$7.5M
+11.6%
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
RETAIL STORES
$6,695,000
Current use
APARTMENT HOUSE (5+ UNITS)
$9,055,000
Change: +35% · Conversion: Difficult
OFFICE BUILDING
$8,420,000
Change: +26% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$7,475,000
Change: +12% · Conversion: Moderate
AUTO REPAIR, GARAGE
$7,045,000
Change: +5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,150,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$7.04M
Range $6.33M – $7.74M · ±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
$69 / 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
$186,039
Tax year 2022
Assessed value
$3,054,000
Assessed 2023
Previous assessed
$3,054,000
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$992,280
Assessed improvement
$2,061,720
Land market value
$2,480,700
Improvement market value
$5,154,300
Total market value
$7,635,000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1996
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
101,800 SF
Lot
12.4 ac (540,275 SF)
Zoning code
CA
APN
093-500- - -00489
UPID
US80-0463292
Jurisdiction
SHELBY
Zoning & alternative use
CA · Memphis, TN
Zoning CA · permitted uses
CA · 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
RETAIL STORES Current
Est. value
$6.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.1M
OFFICE BUILDING
Est. value
$8.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.5M
AUTO REPAIR, GARAGE
Est. value
$7.0M
COMMERCIAL (GENERAL)
Est. value
$6.2M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1996
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
12.4 ac
Current owner
From public records · entity-resolved
Spirit Master Funding X LLC
Entity
Free & Clear · 9 yrs held
Mailing address
PO BOX 105842, ATLANTA, GA 30348-5842
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 6, 2017
$15,692,308
Spirit Master Funding X LLC
Allied Dev Of Memphis LLC
Grant Deed
related
—
Nov 15, 2011
—
Allied Dev Of Memphis LLC
Jpmcc 2005-ldp2 Riverdale Reta
Quit Claim Deed
related
—
Nov 15, 2011
$12,705,000
Allied Dev Of Memphis LLC
Jpmcc 2005-ldp2 Riverdale Reta
Grant Deed
$2,750,000 · Ameritas Life Insurance Corp
Oct 25, 2010
$12,250,000
2005-ldp2 Riverdale Reta Jpmcc
Quinn,harris P
Trustees Deed
—
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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