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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Investment properties
48 Mclean Blvd Memphis, TN 38104-3915
Individually Owned
21-yr Hold
Free & Clear
Property ID
US80-0476767
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1967
Total area
4,454 SF
Lot
0.41 ac (18,034 SF)
Zoning code
RU-4
APN
017-053- - -00023
UPID
US80-0476767
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
$535k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$535k
Owner & transaction history
Daniel E Hoover · 21 yrs held
Daniel E Hoover
since 2005
Last sale
$650,000
4 recorded transactions
Zoning & alternative use
RU-4 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$635,000
+136.7%
Retail stores
$535,000
+99.3%
Office building
$505,000
+87.3%
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
$515,000
ML approach
$535,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$635,000
Change: +137% · Conversion: Easy
RETAIL STORES
$535,000
Change: +99% · Conversion: Easy
OFFICE BUILDING
$505,000
Change: +87% · Conversion: Easy
AUTO REPAIR, GARAGE
$430,000
Change: +60% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$325,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$535k
Range $482k – $589k · ±10% · vs last sale $650k (Jun 23 2022)
Last sale anchor
$650k
Jun 23 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
$120 / 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
$3,582
Tax year 2022
Assessed value
$58,800
Assessed 2023
Previous assessed
$58,800
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$13,520
Assessed improvement
$45,280
Land market value
$33,800
Improvement market value
$113,200
Total market value
$147,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1967
Heating
NONE
Cooling
NONE
Stories
1
Rooms
12
Bathrooms
3
Total area
4,454 SF
Lot
0.41 ac (18,034 SF)
Zoning code
RU-4
APN
017-053- - -00023
UPID
US80-0476767
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
MEDICAL BUILDING
Est. value
$635,000
RETAIL STORES
Est. value
$535,000
OFFICE BUILDING
Est. value
$505,000
AUTO REPAIR, GARAGE
Est. value
$430,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$325,000
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
1967
Heating
NONE
Cooling
Yes
Stories
1
Rooms
12
Bathrooms
3
Lot
0.41 ac
Current owner
From public records · entity-resolved
Daniel E Hoover
Individual
Free & Clear · 21 yrs held
Mailing address
3025 GDNS WAY, MEMPHIS, TN 38111-2648
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 9, 2005
$46,000
Daniel E Hoover
Hoover,howell C & Kirsten
Warranty Deed
related
—
May 10, 2005
$46,000
Daniel E Hoover
Grubbs,donna G
Warranty Deed
—
Apr 21, 2005
$46,000
Daniel E Hoover
Hoover,jeffrey N
Warranty Deed
related
—
Apr 10, 2003
—
Donna G Grubbs
Hoover,howell P Est
Grant Deed
related
—
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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