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Property profile & analytics
OFF-MARKET
Estimated value
$10,185,000
Warehouses
4971 Southridge Blvd Memphis, TN 38141-8302
Entity Owned
~
Est. High Equity
Property ID
US80-0994108
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1997
Total area
183,045 SF
Lot
10.86 ac (472,887 SF)
Zoning code
EMP
APN
094-300- - -00571
UPID
US80-0994108
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
-
McKesson RxPak Factory Production Facility
-
Northstar Rx Llc Factory Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.32M
Blend (final)
Blend
$10.19M
Owner & transaction history
Pi Mem 4971 Southridge LLC
Pi Mem 4971 Southridge LLC
since 2026
7 recorded transactions
Zoning & alternative use
EMP · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$16.3M
+82.0%
Retail stores
$15.2M
+69.7%
Neighborhood: shopping center
$13.4M
+50.2%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$8,945,000
Current use
APARTMENT HOUSE (5+ UNITS)
$16,285,000
Change: +82% · Conversion: Difficult
RETAIL STORES
$15,185,000
Change: +70% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$13,435,000
Change: +50% · Conversion: Moderate
Blend value · Realmo final
$10.19M
Range $9.17M – $11.20M · ±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
$56 / 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
$198,436
Tax year 2022
Assessed value
$3,257,520
Assessed 2023
Previous assessed
$3,257,520
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$161,480
Assessed improvement
$3,096,040
Land market value
$403,700
Improvement market value
$7,740,100
Total market value
$8,143,800
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1997
Heating
HOT WATER
Cooling
CENTRAL
Stories
1
Total area
183,045 SF
Lot
10.86 ac (472,887 SF)
Zoning code
EMP
APN
094-300- - -00571
UPID
US80-0994108
Jurisdiction
SHELBY
Zoning & alternative use
EMP · Memphis, TN
Zoning EMP · permitted uses
EMP · 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
WAREHOUSE, STORAGE Current
Est. value
$8.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$16.3M
RETAIL STORES
Est. value
$15.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$13.4M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
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
1997
Heating
HOT WATER
Cooling
Yes
Stories
1
Lot
10.86 ac
Current owner
From public records · entity-resolved
Pi Mem 4971 Southridge LLC
Entity
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2026
$10,368,457
Pi Mem 4971 Southridge LLC
Breit Se Industrial Memphis Portfolio Ll
Special Warranty Deed
—
Nov 24, 2020
—
Breit Se Indl Memphis Portfol
—
Deed
related
$508,500,000 · Pgim Vip Mtg Account LP
Nov 15, 2018
—
Breit Se Indl Memphis Portfol
—
Deed
related
$471,500,000 · Miscellaneous Ins Co
Nov 12, 2015
$16,500,000
Southridge Owner LP
Belz Investco Gp
Trustees Deed
$10,300,000 · Barclays Bk/plc
Jun 19, 2015
$17,714,232
Mdh Memphis Portfolio LLC
Southridge Industrial Gp
Grant Deed
—
Apr 15, 2015
—
Belz Investco Gp
Southridge Industrial Gp
Quit Claim Deed
related
—
Feb 12, 2008
$1,000
Southridge Industrial Gp
Industrial Dev Board Of City/memp
Quit Claim Deed
related
—
—
—
Breit Se Indl Memphis Portfol
—
Deed Of Trust
related
$471,500,000 · Miscellaneous Ins Co
—
—
Breit Se Indl Memphis Portfol
—
Deed Of Trust
related
$508,500,000 · Pgim Vip Mtg Account LP
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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