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Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Retail space
3685 Lamar Ave Memphis, TN 38118-3720
Individually Owned
22-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US80-0437274
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2003
Total area
9,724 SF
Lot
0.93 ac (40,511 SF)
Zoning code
CMU-3
APN
073-011- - -00038
UPID
US80-0437274
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
-
Dollar Tree Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$943k
Blend (final)
Blend
$850k
Owner & transaction history
Family Dollar Stores Of Tnn · 22 yrs held
Family Dollar Stores Of Tnn
since 2003
4 recorded transactions
Zoning & alternative use
CMU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.4M
+72.4%
Auto repair, garage
$945,000
+16.8%
Apartment house (5+ units)
$865,000
+7.2%
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
$805,000
Current use
MEDICAL BUILDING
$1,390,000
Change: +72% · Conversion: Difficult
AUTO REPAIR, GARAGE
$945,000
Change: +17% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$865,000
Change: +7% · Conversion: Difficult
OFFICE BUILDING
$755,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$850k
Range $765k – $935k · ±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
$87 / 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
$19,471
Tax year 2022
Assessed value
$319,640
Assessed 2023
Previous assessed
$319,640
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$43,440
Assessed improvement
$276,200
Land market value
$108,600
Improvement market value
$690,500
Total market value
$799,100
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2003
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
9,724 SF
Lot
0.93 ac (40,511 SF)
Zoning code
CMU-3
APN
073-011- - -00038
UPID
US80-0437274
Jurisdiction
SHELBY
Zoning & alternative use
CMU-3 · Memphis, TN
Zoning CMU-3 · permitted uses
CMU-3 · 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
$805,000
MEDICAL BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$945,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$865,000
OFFICE BUILDING
Est. value
$755,000
RETAIL STORES Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
2003
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.93 ac
Current owner
From public records · entity-resolved
Family Dollar Stores Of Tnn
Individual
Mailing address
500 VOLVO PKWY, CHESAPEAKE, VA 23320-1604
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2003
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
Aug 14, 2003
$155,900
Family Dollar Stores Of Tnn
Krystal Co
Grant Deed
—
Jan 30, 2002
$644,690
Crystac Property I LLC
Krystal Co
Grant Deed
$665,000 · Ge Capital Franchise Finance
Jan 30, 2002
$17,160
Snowflake Remainder LLC
Krystal Co
Grant Deed
—
—
—
Cole Fd Portfolio III LLC
—
Deed Of Trust
related
$27,725,000 · Gs Commercial Real Estate LP
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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