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Property profile & analytics
FOR SALE
Auto shops
351 Wisconsin Ave, Memphis, TN 38106
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US80-1199058
For Sale
1 / 38
$995,000
351 Wisconsin Ave, Memphis, TN 38106
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Property summary
AI-generated overview
This exceptional industrial property, located at 351 Wisconsin Ave, Memphis, TN 38106, presents a compelling investment opportunity. The property encompasses a substantial 6.6 acres of land, featuring a single-story brick building totaling 7,458 square feet. Constructed in 1956, this warehouse is classified as a distribution and warehouse facility, ideal for various industrial uses. The building's size and the expansive lot provide ample space for operations, storage, and potential expansion. The property's location in Shelby County offers convenient access to major transportation routes, enhancing its logistical advantages. The asking price for this significant industrial asset is $995,000. This represents a rare chance to acquire a well-situated, established industrial property with considerable potential for growth and return on investment in the thriving Memphis market. The property's substantial lot size offers significant flexibility for future development or expansion. Serious inquiries are encouraged to explore this promising investment opportunity further.
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1956
Total area
7,458 SF
Lot
4.31 ac (187,613 SF)
Zoning code
EMP
APN
012-024- - -00009-C
UPID
US80-1199058
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
$555k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$767k
Blend (final)
Blend
$585k
Owner & transaction history
Magness Transportation INC · 3 yrs held
Magness Transportation INC
since 2023
Last sale
$600,000
1 recorded transaction
Zoning & alternative use
EMP · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$890,000
+23.1%
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
$580,000
ML approach
$555,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$725,000
Current use
OFFICE BUILDING
$890,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$620,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$585k
Range $527k – $644k · ±10% · vs last sale $600k (Mar 31 2023)
Last sale anchor
$600k
Mar 31 2023
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
$78 / 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
$5,626
Tax year 2022
Assessed value
$92,360
Assessed 2023
Previous assessed
$92,360
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$30,320
Assessed improvement
$62,040
Land market value
$75,800
Improvement market value
$155,100
Total market value
$230,900
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
For Sale
Year built
1956
Heating
SPACE
Cooling
NONE
Stories
1
Total area
7,458 SF
Lot
4.31 ac (187,613 SF)
Zoning code
EMP
APN
012-024- - -00009-C
UPID
US80-1199058
Jurisdiction
SHELBY
Zoning & alternative use
EMP · Memphis, TN
Zoning EMP · permitted uses
EMP · 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
AUTO REPAIR, GARAGE Current
Est. value
$725,000
OFFICE BUILDING
Est. value
$890,000
RETAIL STORES
Est. value
$620,000
AUTO REPAIR, GARAGE Current
OFFICE BUILDING
RETAIL STORES
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
1956
Heating
SPACE
Cooling
Yes
Stories
1
Lot
4.31 ac
Current owner
From public records · entity-resolved
Magness Transportation INC
Entity
Mailing address
167 TUCKER CEMETERY RD, GASSVILLE, AR 72635-8701
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2023
$600,000
Magness Transportation INC
Exxon Mobil Corporation
Special Warranty Deed
$462,700 · Guaranty Bank & Trust 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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