Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,100,000
Strip malls
3505 Ramill Rd Memphis, TN 38128-3301
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US80-1013822
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1973
Total area
17,337 SF
Lot
1.58 ac (68,738 SF)
Zoning code
CMU-1
APN
086-037- - -00005
UPID
US80-1013822
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
-
Boost Mobile Mobile Phone Store Electronics & Wireless Store
-
UPS Access Point location Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.05M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$887k
Blend (final)
Blend
$1.10M
Owner & transaction history
National Cities I LP · 4 yrs held
National Cities I LP
since 2022
Last sale
$1.3M
3 recorded transactions
Zoning & alternative use
CMU-1 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.7M
+32.1%
Apartment house (5+ units)
$1.5M
+21.2%
Retail stores
$1.4M
+13.0%
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
$1,015,000
ML approach
$1,045,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,275,000
Current use
AUTO REPAIR, GARAGE
$1,680,000
Change: +32% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,540,000
Change: +21% · Conversion: Difficult
RETAIL STORES
$1,440,000
Change: +13% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,050,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$1.10M
Range $990k – $1.21M · ±10% · vs last sale $1.28M (Feb 1 2022)
Last sale anchor
$1.28M
Feb 1 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
$63 / 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
$15,792
Tax year 2022
Assessed value
$259,240
Assessed 2023
Previous assessed
$259,240
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$66,480
Assessed improvement
$192,760
Land market value
$166,200
Improvement market value
$481,900
Total market value
$648,100
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1973
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
17,337 SF
Lot
1.58 ac (68,738 SF)
Zoning code
CMU-1
APN
086-037- - -00005
UPID
US80-1013822
Jurisdiction
SHELBY
Zoning & alternative use
CMU-1 · Memphis, TN
Zoning CMU-1 · permitted uses
CMU-1 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
RETAIL STORES
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1973
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.58 ac
Current owner
From public records · entity-resolved
National Cities I LP
Entity
Mailing address
2641 UN AVE EXT, MEMPHIS, TN 38112-4401
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2022
$1,275,000
National Cities I LP
Ibb Holdings Gp
Special Warranty Deed
$900,000 · Bank Of Bartlett
Sep 23, 2021
$480,000
Ibb Holdings Gp
Commercial Plazas
Special Warranty Deed
$384,000 · First Commercial Bank
Sep 23, 2021
—
Ibb Holdings Gp
Commercial Plazas
Quit Claim Deed
related
—
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?”
You own 3505 Ramill Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
