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Property profile & analytics
OFF-MARKET
Estimated value
$7,360,000
Assisted living facilities
400 Highland St Memphis, TN 38111-4445
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US80-1803331
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1964
Total area
324,021 SF
Lot
2.76 ac (120,313 SF)
Zoning code
RU-3
APN
046-002- - -00001-C
UPID
US80-1803331
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
-
Power Usage/Electric Bill Cost (Bike/Boat/Book/etc) Store
-
Websites & Photography Photography Service (Bike/Boat/Book/etc) Store
-
Serenity at Highland Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.36M
Blend (final)
Blend
$7.36M
Owner & transaction history
Gmf-serenity Towers LLC · 12 yrs held
Gmf-serenity Towers LLC
since 2014
5 recorded transactions
Zoning & alternative use
RU-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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$7,360,000
Current use
Blend value · Realmo final
$7.36M
Range $6.62M – $8.10M · ±10%
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
$23 / 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
Land market value
$578,600
Improvement market value
$5,622,100
Total market value
$6,200,700
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1964
Heating
FORCED AIR
Cooling
CENTRAL
Stories
9
Units
396
Bathrooms
1
Total area
324,021 SF
Lot
2.76 ac (120,313 SF)
Zoning code
RU-3
APN
046-002- - -00001-C
UPID
US80-1803331
Jurisdiction
SHELBY
Zoning & alternative use
RU-3 · Memphis, TN
Zoning RU-3 · permitted uses
RU-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
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$7.4M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
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
1964
Heating
FORCED AIR
Cooling
Yes
Stories
9
Units
396
Bathrooms
1
Lot
2.76 ac
Current owner
From public records · entity-resolved
Gmf-serenity Towers LLC
Entity
Mailing address
4883 TURNEY RD, CLEVELAND, OH 44125-2524
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
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
Mar 6, 2014
—
Gmf-serenity Towers LLC
Serenity Twrs Of Midtown Memphis
Quit Claim Deed
related
$14,500,000 · Health Educational & Hsng Faci
Mar 6, 2014
$12,000,000
Gmf-serenity Towers LLC
Serenity Twrs Of Midtown Memphis
Grant Deed
related
—
Sep 17, 2010
$1,750,000
Serenity Twrs Of Midtown Memphis
New Wesley Highland Twrs Assoc
Grant Deed
$3,200,000 · Glenda G Morgan Charitable Fou
—
—
Wesley Housing Corp
—
Deed Of Trust
related
$100,000 · Regions Bank
—
—
Serenity Twrs Of Midtown Memphis
—
Deed Of Trust
related
$3,950,000 · Glenda G Morgan Charitable Fou
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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