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Property profile & analytics
OFF-MARKET
Estimated value
$1,370,000
Specialty properties
3788 Summer Ave Memphis, TN 38122-3723
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US80-3396680
Property profile
Verified
Property type
Specialty properties
Use group
FUNERAL HOME
Year built
1969
Total area
8,700 SF
Lot
1.43 ac (62,421 SF)
Zoning code
CMU-3
APN
038-079- - -00046
UPID
US80-3396680
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
-
High Point Funeral Home and Crematorium Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.34M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.37M
Owner & transaction history
Mid South Mortuary Acquisition LLC · 2 yrs held
Mid South Mortuary Acquisition LLC
since 2023
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
CMU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.1M
+111.1%
Restaurant
$1.1M
+103.1%
Auto repair, garage
$975,000
+84.9%
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
$1,350,000
ML approach
$1,335,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,115,000
Change: +111% · Conversion: Difficult
RESTAURANT
$1,075,000
Change: +103% · Conversion: Difficult
AUTO REPAIR, GARAGE
$975,000
Change: +85% · Conversion: Difficult
Blend value · Realmo final
$1.37M
Range $1.23M – $1.51M · ±10% · vs last sale $1.40M (Jul 24 2023)
Last sale anchor
$1.40M
Jul 24 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
$157 / 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
$13,190
Tax year 2022
Assessed value
$216,520
Assessed 2023
Previous assessed
$216,520
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$101,320
Assessed improvement
$115,200
Land market value
$253,300
Improvement market value
$288,000
Total market value
$541,300
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
Specialty properties
Use group
FUNERAL HOME
Status
Off-Market
Year built
1969
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
8,700 SF
Lot
1.43 ac (62,421 SF)
Zoning code
CMU-3
APN
038-079- - -00046
UPID
US80-3396680
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
OFFICE BUILDING
Est. value
$1.1M
RESTAURANT
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$975,000
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
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
1969
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.43 ac
Current owner
From public records · entity-resolved
Mid South Mortuary Acquisition LLC
Entity
Mailing address
2409 KLINE AVE, NASHVILLE, TN 37211-2131
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
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 24, 2023
$1,400,000
Mid South Mortuary Acquisition LLC
Anthem Properties Wtfa Tennessee Ll
Special Warranty Deed
—
Jan 5, 2022
—
Southern Heritage Re Holdings Co Ll
West Tennessee Funeral Assocates Ll
Quit Claim Deed
related
—
Jan 5, 2022
$1,705,000
Anthem Properties Wtfa Tennessee Ll
Southern Heritage Re Holdings Co Ll
Warranty Deed
—
Sep 18, 2018
$2,059,374
West Tennessee Funeral Assocs
Buckner Mgmt Svcs LLC
Trustees Deed
$22,525,524 · Miscellaneous Ins Co
May 21, 2012
$1,500,000
Buckner Management Svcs LLC
Hpc Services INC
Warranty Deed
—
Aug 20, 2009
$3,400,000
Hpc Services INC
Keller,g David
Warranty Deed
$662,500 · Trustmark National Bank
Jul 12, 2001
$325,000
Memphis International Church
Robinson,michael A
Grant Deed
$400,000 · National Bank Commerce Tr & Sa
—
—
Buckner Management Services
—
Deed Of Trust
related
$6,000 · Trustmark National Bank
—
—
Hpc Services INC
—
Deed Of Trust
related
$406,000 · Six Bridges Capital Corp
—
—
Hpc Services INC
—
Deed Of Trust
related
—
—
—
Hpc Services INC
—
Deed Of Trust
related
—
—
—
Hpc Services INC
—
Deed Of Trust
related
—
—
—
Hpc Services INC
—
Deed Of Trust
related
—
—
—
Buckner Management Services
—
Deed Of Trust
related
$662,500 · Trustmark National Bank
—
—
Hpc Services INC
—
Deed Of Trust
related
—
—
—
Buckner Management Services
—
Deed Of Trust
related
$1,625,000 · Trustmark National Bank
—
—
Hpc Services INC
—
Deed Of Trust
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.
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