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Property profile & analytics
OFF-MARKET
Estimated value
$2,115,000
Manufacturing properties
406 Bodley Ave Memphis, TN 38109-2502
Entity Owned
3-yr Hold
Free & Clear
Property ID
US80-0683673
Property profile
Verified
Property type
Manufacturing properties
Use group
MILL (FEED, GRAIN, LUMBER, TEXTILE)
Year built
1932
Total area
1,200 SF
Lot
4.97 ac (216,537 SF)
Zoning code
IH
APN
049-006- - -00024
UPID
US80-0683673
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
$1.98M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.12M
Owner & transaction history
391 E Mallory Ave LLC · 3 yrs held
391 E Mallory Ave LLC
since 2023
Last sale
$2.2M
3 recorded transactions
Zoning & alternative use
IH · 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
$2,105,000
ML approach
$1,980,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.12M
Range $1.90M – $2.33M · ±10% · vs last sale $2.19M (May 17 2023)
Last sale anchor
$2.19M
May 17 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
$1,763 / 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
$7,520
Tax year 2022
Assessed value
$123,440
Assessed 2023
Previous assessed
$169,120
-27.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$69,720
Assessed improvement
$53,720
Land market value
$174,300
Improvement market value
$134,300
Total market value
$308,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Manufacturing properties
Use group
MILL (FEED, GRAIN, LUMBER, TEXTILE)
Status
Off-Market
Year built
1932
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
1,200 SF
Lot
4.97 ac (216,537 SF)
Zoning code
IH
APN
049-006- - -00024
UPID
US80-0683673
Jurisdiction
SHELBY
Zoning & alternative use
IH · Memphis, TN
Zoning IH · permitted uses
IH · 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
1932
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
4.97 ac
Current owner
From public records · entity-resolved
391 E Mallory Ave LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2163 AIRWAYS BLVD, MEMPHIS, TN 38114-5208
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 17, 2023
$2,187,650
391 E Mallory Ave LLC
B S Tuyu Limited Liability Company
Warranty Deed
—
Dec 8, 2021
—
B S Tuyu Limited Liability Company
Frazer Holdings LLC
Quit Claim Deed
related
—
May 5, 1999
$1,700,000
Frazer Holdings LLC
Fishcer Steele Corp
Grant Deed
related
$1,360,000 · Regions 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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