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Property profile & analytics
OFF-MARKET Estimated value $2,555,000
Assisted living facilities

381 Madison Ave Memphis, TN 38103

112,443 SF 0.43 ac lot Built 1956
Entity Owned 7-yr Hold Free & Clear
Property ID
US80-1046648
Property profile
Verified
Property type Assisted living facilities
Use group HOMES (RETIRED, NURSING)
Year built 1956
Total area 112,443 SF
Lot 0.43 ac (18,600 SF)
Zoning code SE
APN 007-001- - -00001
UPID US80-1046648
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
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.55M
Blend (final) Blend
$2.56M
Owner & transaction history
Hope Heights Tower Tn Tc LP · 7 yrs held
Hope Heights Tower Tn Tc LP
since 2018
4 recorded transactions
2018
$6.0M
2018
Price N/A
2011
Price N/A
2011
$2.7M
Zoning & alternative use
SE · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

7.2.1 Sports and Entertainment (SE) District Memphis/Shelby County Unified Development Code 294 ZTA 24-2 7.2 SOUTH CENTRAL BUSINESS IMPROVEMENT DISTRICT (SCBID) Sports and Entertainment (SE) District A. Boundaries As indicated on the Zoning Map. B. Purpose and Intent of District This district is intended to permit a mixture of uses and activities that will c…

Zone name Sports And Entertainment
General category UNKNOWN
Zone area 186.72 ac
Source CHAPTER 1
Top alternative use upside
Commercial (general) $4.0M +58.3%
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