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Property profile & analytics
OFF-MARKET
Estimated value
$4,580,000
Apartment buildings
4865 Raleigh Lagrange Rd, Memphis, TN 38128
Entity Owned
13-yr Hold
Property ID
US80-1318173
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1974
Construction
FRAME
Total area
43,800 SF
Lot
15.37 ac (669,430 SF)
Zoning code
RU-3
APN
088-032- - -00108
UPID
US80-1318173
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
by Request
CAP Approach
CAP
$4.83M
Comparable Approach
Comparable
$4.70M
Blend (final)
Blend
$4.58M
Owner & transaction history
Avery Park Apartments Utah LLC · 13 yrs held
Avery Park Apartments Utah LLC
since 2012
4 recorded transactions
Zoning & alternative use
RU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$6.3M
+60.8%
Office building
$5.2M
+34.1%
Auto repair, garage
$4.2M
+9.0%
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%
$5,225,000
6.5%
$4,825,000
7%
$4,480,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,895,000
Current use
MEDICAL BUILDING
$6,265,000
Change: +61% · Conversion: Moderate
OFFICE BUILDING
$5,225,000
Change: +34% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,245,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$3,635,000
Change: -7% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,215,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$4.58M
Range $4.12M – $5.04M · ±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
$178,146
Tax year 2022
Assessed value
$2,924,440
Assessed 2023
Previous assessed
$2,924,440
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$759,120
Assessed improvement
$2,165,320
Land market value
$1,897,800
Improvement market value
$5,413,300
Total market value
$7,311,100
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1974
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
10
Stories
1
Units
40
Bathrooms
14
Total area
43,800 SF
Lot
15.37 ac (669,430 SF)
Zoning code
RU-3
APN
088-032- - -00108
UPID
US80-1318173
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.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.9M
MEDICAL BUILDING
Est. value
$6.3M
OFFICE BUILDING
Est. value
$5.2M
AUTO REPAIR, GARAGE
Est. value
$4.2M
RETAIL STORES
Est. value
$3.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1974
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
10
Units
40
Bathrooms
14
Lot
15.37 ac
Current owner
From public records · entity-resolved
Avery Park Apartments Utah LLC
Entity
Mailing address
3989 S 900TH E STE #100, SALT LAKE CITY, UT 84124-1000
Ownership since
2012
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
Nov 6, 2014
—
Avery Park Apartments Utah LLC
—
Grant Deed
related
$4,870,900 · Arbor Com'l Fndg
Dec 19, 2012
$5,200,000
Avery Park Apartments Utah LLC
Us Housing Partners Vii LP
Grant Deed
$4,125,000 · Arbor Realty SR INC
Dec 13, 2004
—
Pp Alliance
Alliance Gt 4
Quit Claim Deed
related
$810,000,000 · Column Financial INC
May 5, 1998
$5,580,000
Alliance Sh Portfolio Ltd
United Dominion Realty L P
Grant Deed
$155,000,000 · Nomura Asset Capital Corp
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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