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Property profile & analytics
FOR LEASE
Warehouses
4180 E Raines Rd Memphis, TN 38118
Entity Owned
~
Est. High Equity
Property ID
US80-3308812
For Lease
1 / 4
$1,900,000
4180 E Raines Rd, Memphis, TN 38118
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1968
Total area
16,875 SF
Lot
2.15 ac (93,654 SF)
Zoning code
EMP
APN
073-099- - -00002
UPID
US80-3308812
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
-
Seismic Audio Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.99M
CAP Approach
CAP
$2.41M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.90M
Owner & transaction history
Wheeton Properties LLC
Wheeton Properties LLC
since 2025
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
EMP · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.4M
+307.6%
Auto repair, garage
$1.6M
+176.3%
Apartment house (5+ units)
$1.5M
+153.5%
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
$1,925,000
ML approach
$1,985,000
CAP Approach
CAP Return
Estimation
6%
$2,610,000
6.5%
$2,410,000
7%
$2,235,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,415,000
Change: +308% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,635,000
Change: +176% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,500,000
Change: +154% · Conversion: Difficult
RETAIL STORES
$1,400,000
Change: +136% · Conversion: Moderate
OFFICE BUILDING
$1,310,000
Change: +121% · Conversion: Difficult
Blend value · Realmo final
$1.90M
Range $1.71M – $2.09M · ±10% · vs last sale $1.85M (Jul 7 2025)
Last sale anchor
$1.85M
Jul 7 2025
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
$113 / 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
$14,610
Tax year 2022
Assessed value
$239,840
Assessed 2023
Previous assessed
$239,840
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$47,720
Assessed improvement
$192,120
Land market value
$119,300
Improvement market value
$480,300
Total market value
$599,600
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
For Lease
Year built
1968
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Total area
16,875 SF
Lot
2.15 ac (93,654 SF)
Zoning code
EMP
APN
073-099- - -00002
UPID
US80-3308812
Jurisdiction
SHELBY
Zoning & alternative use
EMP · Memphis, TN
Zoning EMP · permitted uses
EMP · 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
$2.4M
AUTO REPAIR, GARAGE
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
RETAIL STORES
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
MEDICAL BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
OFFICE 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
1968
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
2.15 ac
Current owner
From public records · entity-resolved
Wheeton Properties LLC
Entity
Mailing address
PO BOX 1508TH GREENVILLE
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 7, 2025
$1,850,000
Wheeton Properties LLC
Tn Prtfolio 11 LLC
Special Warranty Deed
—
Jun 14, 2023
$2,000,000
Tn Portfolio 11 LLC
Nera Investments LLC
Special Warranty Deed
$26,992,500 · Ameris Bank
Jul 31, 2019
$300,000
Nera Investments LLC
Raines Road LLC
Warranty Deed
—
Nov 28, 2011
—
Raines Road LLC
Wall Board Materials LLC
Quit Claim Deed
related
—
Dec 28, 2007
$950,000
Wall Board Materials LLC
Old Forest Properties Gp
Warranty Deed
$774,159 · First Citizens National Bank
—
—
Raines Road LLC
—
Deed Of Trust
related
$806,328 · First Citizens National Bank
—
—
Old Forest Properties LLC
—
Deed Of Trust
related
$540,000 · First Tennessee Bank National
—
—
Wall Board Materials LLC
—
Deed Of Trust
related
$796,429 · First Citizens National Bank
—
—
Raines Road LLC
—
Deed Of Trust
related
$213,294 · First Citizens National 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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