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Property profile & analytics
OFF-MARKET Estimated value $1,045,000
Strip malls

4970 Raleigh Lagrange Rd Memphis, TN 38128-0900

31,372 SF 3.53 ac lot Built 1988
Entity Owned 9-yr Hold ~ Est. High Equity
Property ID
US80-1895302
Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1988
Total area 31,372 SF
Lot 3.53 ac (153,636 SF)
Zoning code CMU-1
APN 088-008- - -00103-C
UPID US80-1895302
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
  • Covington Crossing Business Service Center Corporate Office
  • Hometown Pizza and Wings Take-out & Catering
  • Advanced Trust Mortgage Loan Service Bank
  • Golden Palace Ballroom. salón de baile del palacio dorado Hotel & Motel Resort
  • Lennys Grill & Subs Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$686k
Blend (final) Blend
$1.05M
Owner & transaction history
Covington Crossing INC · 9 yrs held
Covington Crossing INC
since 2016
7 recorded transactions
2021
Price N/A
2017
Price N/A
2016
$550,000
2015
$350,000
2006
$1.6M
1969
Price N/A
1969
Price N/A
Zoning & alternative use
CMU-1 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

PRINCIPAL USE R6 RU-1 RU-3 CMU-1 CMU-2 CMP-2 Woodworking, including Cabinet Makers and Furniture Manufacturing □ ■ Warehouse □ □ Recycling Drop-off Facility □ □ □ Neighborhood Garden ■ ■ ■ ■ ■ ■ Planned Development1 □ □ □ 1. Planned Developments approved prior to the adoption of the University District Overlay (July 22, 2009) are not affected. Definitions Fo…

Zone name Commercial Mixed Use 1
General category MIXED_USE
Zone area 3,556.17 ac
Source CHAPTER 1
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