Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    45 Cres Blf Ct Memphis, TN 38106-4541

    • Apartment buildings
    • 51,264 SF
    • 2.92 lot acres
    OFF-MARKET
    Value Estimations
    $3,280,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0090910
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 45 Cres Blf Ct

    Year built
    2013
    Construction
    FRAME
    Lot size
    2.92 lot acres
    Property size
    51,264 SF
    Zone code
    BR
    Property type
    Apartment buildings
    APN
    012-066- - -00001
    APU
    1206600001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,520,000
      Market price range: $1.79M - $5.03M
      AI Estimate
      $3,035,000
      Market price range: $1.73M - $4.30M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,520,000
      Current use
      AUTO REPAIR, GARAGE
      $4,970,000
      Change: +41% Conversion: Difficult
      RETAIL STORES
      $4,255,000
      Change: +21% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,765,000
      Change: +7% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $3,095,000
      Change: -12% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.061
    Latitude
    35.1252
    CBSA code
    32820
    CBSA name
    MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $1,383
    $0.00
    $0.00
    $0.00
    -
    $142,000
    $4,473,100
    $4,615,100

    Comparable in this City

    • Value Estimation by Request
      62,950 SF

      62 E.h. Crump Blvd

      Multifamily properties • 62,950 SF
      62 E.h. Crump Blvd, Memphis, TN 38106
      View Details
    • Value Estimation
      $545,000
      5,524 SF

      538 Jacklyn Ave

      APARTMENT HOUSE (5+ UNITS) • 5,524 SF
      538 Jacklyn Ave, Memphis, TN 38106-7124
      View Details
    • Value Estimation
      $1,490,000
      23,280 SF

      26 Kentucky

      APARTMENT HOUSE (5+ UNITS) • 23,280 SF
      26 Kentucky, Memphis, TN 38106
      View Details
    • Value Estimation
      $4,080,000
      63,840 SF

      2449 Ruby Oaks Dr

      APARTMENT HOUSE (5+ UNITS) • 63,840 SF
      2449 Ruby Oaks Dr, Memphis, TN 38106-7904
      View Details
    • Value Estimation
      $590,000
      5,936 SF

      641 Dison Ave

      APARTMENT HOUSE (5+ UNITS) • 5,936 SF
      641 Dison Ave, Memphis, TN 38106-6422
      View Details
    • Value Estimation
      $545,000
      5,520 SF

      1949 Philsar St

      APARTMENT HOUSE (5+ UNITS) • 5,520 SF
      1949 Philsar St, Memphis, TN 38106-7151
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      62,950 SF

      Downtown Memphis Mixed-Use Gem

      62,950 SF Warehouse & Apartments
      62 E.h. Crump Blvd, Memphis, TN 38106
      View Details
    • $196,700

      Memphis Four-Unit Apartment Building

      All-brick four-unit apartment building in Memphis, Tennessee.
      1431 Latham St, Memphis, TN 38106
      View Details
    • $215,000

      Memphis Fourplex Investment Opportunity

      Vacant fourplex in Memphis, TN, with income potential.
      1627 Barton St, Memphis, TN 38106
      View Details
    • Contact for pricing

      Downtown Memphis Redevelopment Opportunity

      Two six-story warehouse buildings for sale in Downtown Memphis.
      62 E.h. Crump Blvd, Memphis, TN 38106
      View Details
    • $86,400
      2.16 Acres

      Memphis Industrial Land - $86,400

      2.16-acre commercial/industrial lot. Prime Memphis location.
      1650 Latham St, Memphis, TN 38106
      View Details
    • $250,000
      1.10 Acres

      High-Traffic Commercial Land Opportunity

      1.10 acre commercial land with redevelopment potential on Elvis Presley Blvd.
      2291 Elvis Presley Blvd, Memphis, TN 38106
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      24,121 SF

      Latham Street Warehouse Space Available

      Warehouse spaces available at Latham Street, Memphis.
      1950-1980 Latham St, Memphis, TN 38106
      View Details
    • Contact for pricing
      52,512 SF

      Truck Terminal with 76 Doors

      Truck terminal with 76 doors, renovated in 2021-2022.
      1240 Louisiana St, Memphis, TN 38106
      View Details
    • Contact for pricing
      213,519 SF

      Memphis Industrial Space For Lease

      Industrial space in Memphis with flexible configurations and recent renovations.
      1709-1769 Latham St, Memphis, TN 38106
      View Details
    • Contact for pricing
      1 SF

      Memphis Industrial Land for Lease

      6.6 Acres, EMP Zoning, Single Tenant
      181 Mclemore Ave, Memphis, TN 38106
      View Details
    • Contact for pricing
      12,500 SF

      Office Space in Church Setting

      Office spaces available within a church, suitable for nonprofits.
      200 Parkway E, Memphis, TN 38106
      View Details
    • Contact for pricing
      6 SF

      Trailer Parking for Lease

      6.6 acres of fenced and lit trailer parking available.
      181 West Mclemore Ave, Memphis, TN 38106
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    45 Cres Blf Ct
    Memphis, TN 38106-4541
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!