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Property profile & analytics
FOR LEASE
Strip malls
5124 Summer Ave Memphis, TN 38122
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-0165992
For Lease
1 / 2
$3,385,000
5124 Summer Ave, Memphis, TN 38122
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1974
Total area
101,033 SF
Lot
8 ac (348,480 SF)
Zoning code
CMU-3
APN
063-071- - -00037-C
UPID
US80-0165992
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
-
City Thrift Discount Store
-
Summer Commons Shopping Center & Mall
-
Bargain Hunt Discount Store
-
Northern Tool + Equipment (Bike/Boat/Book/etc) Store Building Supply
-
Tacos los Carnales Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.29M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.19M
Blend (final)
Blend
$3.39M
Owner & transaction history
Summer Commons Investors LLC · 1 yrs held
Summer Commons Investors LLC
since 2025
Last sale
$3.8M
5 recorded transactions
Zoning & alternative use
CMU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$2,950,000
ML approach
$3,285,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.39M
Range $3.05M – $3.72M · ±10% · vs last sale $3.75M (May 15 2025)
Last sale anchor
$3.75M
May 15 2025
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
$34 / 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
$123,397
Tax year 2022
Assessed value
$2,025,680
Assessed 2023
Previous assessed
$2,025,680
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$735,800
Assessed improvement
$1,289,880
Land market value
$1,839,500
Improvement market value
$3,224,700
Total market value
$5,064,200
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1974
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
101,033 SF
Lot
8 ac (348,480 SF)
Zoning code
CMU-3
APN
063-071- - -00037-C
UPID
US80-0165992
Jurisdiction
SHELBY
Zoning & alternative use
CMU-3 · Memphis, TN
Zoning CMU-3 · permitted uses
CMU-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.
Building & site characteristics
From public records
Year built
1974
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
8 ac
Current owner
From public records · entity-resolved
Summer Commons Investors LLC
Entity
Free & Clear · 1 yrs held
Mailing address
3265 MERIDIAN PKWY STE #130, WESTON, FL 33331-3506
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 15, 2025
—
Summer Commons Investors LLC
Summer Commons Op LLC
Quitclaim Deed
related
—
Feb 7, 2012
$4,800,000
Summer Commons Investors LLC
Summer Commons LLC
Grant Deed
related
$5,000,000 · Symetra Life Insurance Co
Mar 13, 2009
$3,500,000
Summer Commons LLC
Summer Commons Dev
Trustees Deed
related
—
Mar 1, 2006
$3,750,000
Summer Commons LLC
Memphis Mart Associates
Grant Deed
$2,750,000 · Norton S Karno
—
—
Summer Commons Investors LLC
—
Deed Of Trust
related
$169,000,000 · Morgan Stanley Bk
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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