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Property profile & analytics
OFF-MARKET
Estimated value
$7,165,000
Strip malls
3890 Austin Peay Hwy Memphis, TN 38128-2501
Entity Owned
3-yr Hold
Free & Clear
Property ID
US80-0024860
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1993
Total area
13,635 SF
Lot
0.76 ac (33,062 SF)
Zoning code
CMU-2
APN
087-004- - -00101
UPID
US80-0024860
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
-
DentalWorks Memphis Austin Peay Dental Office
-
Covington Springs Shopping Center Shopping Center & Mall
-
Logan Michael Schmidt Dental Office
-
Dr. Logan Schmidt Dental Office
-
Dr. James Dietz Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.04M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.17M
Owner & transaction history
Halle Springs Properties LLC · 3 yrs held
Halle Springs Properties LLC
since 2023
Last sale
$7.3M
5 recorded transactions
Zoning & alternative use
CMU-2 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$7,030,000
ML approach
$7,035,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$7.17M
Range $6.45M – $7.88M · ±10% · vs last sale $7.30M (May 22 2023)
Last sale anchor
$7.30M
May 22 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
$525 / 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
$26,776
Tax year 2022
Assessed value
$439,560
Assessed 2023
Previous assessed
$439,560
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$53,600
Assessed improvement
$385,960
Land market value
$134,000
Improvement market value
$964,900
Total market value
$1,098,900
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1993
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
13,635 SF
Lot
0.76 ac (33,062 SF)
Zoning code
CMU-2
APN
087-004- - -00101
UPID
US80-0024860
Jurisdiction
SHELBY
Zoning & alternative use
CMU-2 · Memphis, TN
Zoning CMU-2 · permitted uses
CMU-2 · 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.
Building & site characteristics
From public records
Year built
1993
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.76 ac
Current owner
From public records · entity-resolved
Halle Springs Properties LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2445 HALLE PKWY, COLLIERVILLE, TN 38017-8826
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 22, 2023
$7,300,000
Halle Springs Properties LLC
Covington Springs Center Holdings L
Special Warranty Deed
—
May 22, 2023
—
Halle Springs Properties LLC
Covington Springs Center Holdings L
Quit Claim Deed
related
$5,475,000 · First Horizon Bank
Jun 6, 2007
—
Covington Springs Center LLC
Rockwall Investments LLC
Quit Claim Deed
related
—
Dec 5, 2005
$6,425,000
Covington Spring LLC
Covington Springs Shopping Cen
Grant Deed
related
—
Mar 28, 2003
$5,600,000
Covington Springs Shopping Ctr
Covington Springs Associates
Grant Deed
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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