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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Grocery and convenience stores
4000 Raleigh Millington Rd Memphis, TN 38128-5555
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US80-1988158
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1981
Total area
2,940 SF
Lot
0.39 ac (17,076 SF)
Zoning code
CMU-1
APN
086-012- - -00194
UPID
US80-1988158
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
-
ATM Atm Convenience Store
-
AAA Food Mart & Vapes Gas Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$740k
CAP Approach
CAP
$575k
Comparable Approach
Comparable
$504k
Blend (final)
Blend
$700k
Owner & transaction history
Awax Properties LLC · 3 yrs held
Awax Properties LLC
since 2022
Last sale
$850,000
2 recorded transactions
Zoning & alternative use
CMU-1 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$420,000
+94.9%
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
$675,000
ML approach
$740,000
CAP Approach
CAP Return
Estimation
6%
$620,000
6.5%
$575,000
7%
$535,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$420,000
Change: +95% · Conversion: Difficult
Blend value · Realmo final
$700k
Range $630k – $770k · ±10% · vs last sale $850k (Jul 21 2022)
Last sale anchor
$850k
Jul 21 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
$238 / 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
$7,965
Tax year 2022
Assessed value
$130,760
Assessed 2023
Previous assessed
$130,760
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$30,120
Assessed improvement
$100,640
Land market value
$75,300
Improvement market value
$251,600
Total market value
$326,900
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1981
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
2,940 SF
Lot
0.39 ac (17,076 SF)
Zoning code
CMU-1
APN
086-012- - -00194
UPID
US80-1988158
Jurisdiction
SHELBY
Zoning & alternative use
CMU-1 · Memphis, TN
Zoning CMU-1 · permitted uses
CMU-1 · 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
MEDICAL BUILDING
Est. value
$420,000
MEDICAL BUILDING
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
1981
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
Awax Properties LLC
Entity
Mailing address
510 E PONTOTOC AVE, MEMPHIS, TN 38126-2111
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 21, 2022
$850,000
Awax Properties LLC
Avion Properties LLC
Special Warranty Deed
$630,000 · Independent Bank
Mar 23, 2022
$587,018
Avion Properties LLC
Mapco Express INC
Special Warranty Deed
$80,000 · Tower Community Bank
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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