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Property profile & analytics
OFF-MARKET Estimated value $2,845,000
Apartment buildings

3946 Lamar Ave Memphis, TN 38118

29,120 SF 26.42 ac lot Built 1972
Individually Owned Absentee Owner Free & Clear
Property ID
US80-3013869
Property profile
Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (100+ UNITS)
Year built 1972
Total area 29,120 SF
Lot 26.42 ac (1,150,855 SF)
Zoning code CMU-3
APN 073-041- - -00171-C
UPID US80-3013869
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
$3.35M
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.85M
Owner & transaction history
WYCK L P WILLOW
WYCK L P WILLOW
Zoning & alternative use
CMU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

3. Commercial Mixed Use - 3 (CMU-3) The CMU -3 District is intended to accommodate a very broad range of high intensity commercial, office and employment uses that require highly visible and highly accessible locations with direct access to arterials. Residential uses are allowed on the ground floor but upper -story units are encouraged. Typical uses in this…

Zone name Commercial Mixed Use 3
General category MIXED_USE
Zone area 4,582.25 ac
Source CHAPTER 1
Top alternative use upside
Medical building $4.2M +60.8%
Auto repair, garage $2.8M +9.0%
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