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Property profile & analytics
OFF-MARKET
Estimated value
$1,935,000
Drive through restaurants
3990 3rd St, Memphis, TN 38109-4471
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US80-0451953
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1993
Total area
2,998 SF
Lot
0.86 ac (37,462 SF)
Zoning code
CMU-3
APN
076-034- - -00073
UPID
US80-0451953
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
-
Wendy's Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.88M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.51M
Blend (final)
Blend
$1.94M
Owner & transaction history
Mek Properties LLC · 4 yrs held
Mek Properties LLC
since 2022
Last sale
$2.2M
7 recorded transactions
Zoning & alternative use
CMU-3 · 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
$1,790,000
ML approach
$1,875,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.94M
Range $1.74M – $2.13M · ±10% · vs last sale $2.25M (Apr 13 2022)
Last sale anchor
$2.25M
Apr 13 2022
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
$645 / 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
$20,575
Tax year 2022
Assessed value
$337,760
Assessed 2023
Previous assessed
$249,040
+35.6% YoY
Effective rate
6.09%
On assessed value
Assessed land
$37,960
Assessed improvement
$299,800
Land market value
$94,900
Improvement market value
$749,500
Total market value
$844,400
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1993
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
2,998 SF
Lot
0.86 ac (37,462 SF)
Zoning code
CMU-3
APN
076-034- - -00073
UPID
US80-0451953
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.
Building & site characteristics
From public records
Year built
1993
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.86 ac
Current owner
From public records · entity-resolved
Mek Properties LLC
Entity
Mailing address
11510 204TH ST SE, SNOHOMISH, WA 98296-7108
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 13, 2022
$2,249,691
Mek Properties LLC
Restaurant Holdings LLC
Special Warranty Deed
$1,275,000 · Coastal Commerce Bank
Oct 4, 2021
$680,000
Restaurant Holdings LLC
Kal 805 Enterprises LLC
Special Warranty Deed
$682,500 · Mercantile Bank Of Michigan
Dec 28, 2017
$1,575,000
Kal 805 Ents LLC
Vlachakis Properties LLC
Grant Deed
$1,090,000 · Us Bk
Oct 15, 2007
$1,737,000
Vlachakis Properties LLC
Cnl Net Lease Funding 2003 LLC
Grant Deed
$1,050,000 · Pacific Capital Bank NA
Oct 2, 2006
$1,458,706
Cnl Net Lease Funding 2003 LLC
Valenti Mid-south Realty II Ll
Grant Deed
related
$1,485,000 · Wells Fargo Bank
Apr 14, 2004
$695,000
Mid-south Realty Valenti II
Short,w L & Sheila
Warranty Deed
$695,000 · Bank Of America
Nov 4, 1999
—
Short W L
Wenco Franchise Management INC
Quit Claim Deed
related
—
—
—
Vlachakis Props LLC
—
Deed Of Trust
related
$871,000 · Bank Of The West
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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