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Property profile

3515 Park Ave Memphis, TN 38111

OFF-MARKET
Retail space
Property ID
US80-3461663
15,590 SF 1.79 ac lot Built 2003
Last sale Oct 2026 · $3,087,000
Entity Owned Owner of record is a legal entity (LLC / corporation). Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This Walgreens retail property is located at 3515 Park Ave, Memphis, TN 38111. The building size is 15,435 square feet and has historically operated as a Walgreens for approximately 23 years. The site is governed by an absolute triple-net lease structure with no landlord obligations, and the lease included scheduled rent escalations of 5% every five years (including through lease option periods). The property is positioned about 0.5 miles from the University of Memphis and approximately 2.5…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2022

What does the county charge?
$49k
Tax billed · 2022
Assessed value · 2023$800k
Assessed land$171k
Assessed improvement$629k
Effective rate6.09%

Value estimate

· Oct 2026
$4.05M
$3.65M – $4.46M

Realmo valuation models over county records and 6 qualifying comparable sales.

Recently sold

What actually traded nearby?
$88/SF
ZIP average, outlier-cleaned · 22 recorded sales of this use type
Observed band · Q1–Q3$61 – $131
Qualifying comparables6

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

What can be built here?
CMU-1
PRINCIPAL USE R6 RU-1 RU-3 CMU-1 CMU-2 CMP-2 Woodworking, including Cabinet Makers and Furniture Manufacturing □ ■ Warehouse □ □ Recyclin...
General categoryMIXED_USE
JurisdictionSHELBY

Location intelligence

Which uses thrive at this corner?
Best fit: Law Firm
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Law Firm25.1
Realty agency23.5
Building Supply15.7

Location

3515 Park Ave Memphis, TN 38111-5621
County assessor Recorded deeds · 4 transfers 6 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 15 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
707 Highland, Memphis, TN 38111-4244 $350,000 Feb 2025 5,557 SF
2918 Poplar, Memphis, TN 38111-2722 $2,014,000 Sep 2024 8,830 SF
1810 Getwell, Memphis, TN 38111-7000 $5,300,000 Apr 2024 39,138 SF
1324 Getwell, Memphis, TN 38111-7222 $1,500,000 Sep 2022 9,100 SF
1308 Getwell, Memphis, TN 38111-7222 $1,500,000 Sep 2022 8,012 SF
3574 Park, Memphis, TN 38111 $390,000 Apr 2022 11,980 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Includes: Price & PSF · Cap rate · Location · Zoning

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