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Property profile & analytics
FOR SALE
High-rise multifamily apartments
45 S Idlewild St Memphis, TN 38104
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US80-0099569
For Sale
1 / 16
$11,450,000
45 S Idlewild St, Memphis, TN 38104
View Listing →
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1964
Total area
108,928 SF
Lot
1.36 ac (59,242 SF)
Zoning code
RU-4
APN
017-046- - -00007-C
UPID
US80-0099569
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
-
Idlewild 45 Apartment Complex
-
Puja’s kitchen Restaurant Take-out & Catering
-
Harrison Tree Services Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$12.52M
Comparable Approach
Comparable
$13.50M
Blend (final)
Blend
$11.45M
Owner & transaction history
Idlewild Tn Po LLC
Idlewild Tn Po LLC
since 2025
7 recorded transactions
Zoning & alternative use
RU-4 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$17.5M
+83.9%
Medical building
$15.6M
+63.9%
Retail stores
$13.1M
+38.0%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$13,555,000
6.5%
$12,515,000
7%
$11,620,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$9,510,000
Current use
RESTAURANT
$17,485,000
Change: +84% · Conversion: Difficult
MEDICAL BUILDING
$15,580,000
Change: +64% · Conversion: Moderate
RETAIL STORES
$13,115,000
Change: +38% · Conversion: Difficult
OFFICE BUILDING
$12,325,000
Change: +30% · Conversion: Moderate
AUTO REPAIR, GARAGE
$10,560,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,995,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$11.45M
Range $10.31M – $12.60M · ±10%
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
$105 / 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
$211,504
Tax year 2022
Assessed value
$3,472,040
Assessed 2023
Previous assessed
$3,472,040
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$105,400
Assessed improvement
$3,366,640
Land market value
$263,500
Improvement market value
$8,416,600
Total market value
$8,680,100
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
For Sale
Year built
1964
Heating
FORCED AIR
Cooling
CENTRAL
Stories
8
Units
122
Bathrooms
1
Total area
108,928 SF
Lot
1.36 ac (59,242 SF)
Zoning code
RU-4
APN
017-046- - -00007-C
UPID
US80-0099569
Jurisdiction
SHELBY
Zoning & alternative use
RU-4 · Memphis, TN
Zoning RU-4 · permitted uses
RU-4 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$9.5M
RESTAURANT
Est. value
$17.5M
MEDICAL BUILDING
Est. value
$15.6M
RETAIL STORES
Est. value
$13.1M
OFFICE BUILDING
Est. value
$12.3M
AUTO REPAIR, GARAGE
Est. value
$10.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.0M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1964
Heating
FORCED AIR
Cooling
Yes
Stories
8
Units
122
Bathrooms
1
Lot
1.36 ac
Current owner
From public records · entity-resolved
Idlewild Tn Po LLC
Entity
Mailing address
1012 N 5TH ST, MINNEAPOLIS, MN 55411-4302
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2025
—
Idlewild Tn Po LLC
—
Deed
related
$4,068,750 · Arbor Realty SR INC
Nov 20, 2025
$8,330,000
Idlewild Tn Po LLC
Midtown Apartments 1 LLC
Trust Deed
related
—
Nov 23, 2022
—
Midtown Apartments 1 LLC
—
Deed
related
$11,625,000 · Arbor Reality SR INC
Oct 29, 2020
—
Hyde Multifamily Invs LLC
Rosecrest LLC
Quit Claim Deed
related
—
Oct 29, 2020
$8,685,000
Midtown Apatrments LLC
Hyde Multifamily Investments LLC
Special Warranty Deed
—
Dec 13, 2018
—
Rosecrest LLC
—
Deed
related
$6,100,000 · Arbor Realty SR
Aug 8, 2016
$8,500,000
Rosecrest LLC
Northland Rosecrest LLC
Grant Deed
related
$6,620,000 · Arbor Realty SR
Oct 5, 2007
$6,150,000
Northland Rosecrest LLC
Rosecrest
Grant Deed
related
—
—
—
Rosecrest LLC
—
Deed Of Trust
related
$6,100,000 · Arbor Realty SR
—
—
Northland Rosecrest LLC
—
Deed Of Trust
related
$4,920,000 · Sovereign 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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