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Property profile & analytics
OFF-MARKET
Estimated value
$9,000,000
Apartment buildings
41 Belz Blvd, Memphis, TN 38109
Entity Owned
1-yr Hold
Property ID
US80-1040882
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1972
Total area
14,416 SF
Lot
6.7 ac (291,765 SF)
Zoning code
RU-3
APN
050-056- - -00040
UPID
US80-1040882
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
$8.05M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.00M
Owner & transaction history
Aaia Rml LLC · 1 yrs held
Aaia Rml LLC
since 2024
Last sale
$10.0M
7 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
$7,950,000
ML approach
$8,045,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$9.00M
Range $8.10M – $9.90M · ±10% · vs last sale $10.00M (Oct 20 2022)
Last sale anchor
$10.00M
Oct 20 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
$624 / 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
$41,679
Tax year 2022
Assessed value
$684,200
Assessed 2023
Previous assessed
$684,200
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$175,080
Assessed improvement
$509,120
Land market value
$437,700
Improvement market value
$1,272,800
Total market value
$1,710,500
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1972
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
11
Stories
1
Units
16
Bathrooms
10
Total area
14,416 SF
Lot
6.7 ac (291,765 SF)
Zoning code
RU-3
APN
050-056- - -00040
UPID
US80-1040882
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.
Building & site characteristics
From public records
Year built
1972
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
11
Units
16
Bathrooms
10
Lot
6.7 ac
Current owner
From public records · entity-resolved
Aaia Rml LLC
Entity
Mailing address
5209 13TH AVE STE #200, BROOKLYN, NY 11219-3811
Ownership since
2024
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
Aug 16, 2024
$7,450,000
Aaia Rml LLC
Washington Manor Apartment Homes Ll
Trustees Deed
related
—
Oct 20, 2022
$10,000,000
Washington Manor Apartment Homes Ll
Washington Manor Investments LLC
Special Warranty Deed
$7,937,500 · Loann Funder LLC
Dec 7, 2018
—
Washington Mnr Invs LLC
Health Educational & Hsng Faci
Quit Claim Deed
related
—
Nov 28, 2017
—
Health Educational & Hsng Faci
Washington Manor Invs LLC
Quit Claim Deed
related
—
Feb 9, 2015
—
Washington Manor Invs LLC
Health Educational & Hsng Faci
Quit Claim Deed
related
—
Apr 27, 2012
$1,000,000
Washington Manor Invs LLC
Mink M Wayne JR
Trustees Deed
—
Jan 28, 2005
—
Health Educational
Rivertown Dev
Quit Claim Deed
related
—
Dec 2, 2002
$3,470,000
Rivertown Development LP
Union Apartments LP
Grant Deed
$3,120,000 · Amsouth 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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