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Property profile & analytics
FOR LEASE
Strip malls
5230 Summer Ave Memphis, TN 38122
Individually Owned
Free & Clear
Property ID
US80-1619516
For Lease
$15,780,000
5230 Summer Ave, Memphis, TN 38122
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1972
Total area
190,801 SF
Lot
30.75 ac (1,339,470 SF)
Zoning code
CMU-3
APN
063-071- - -00010-C
UPID
US80-1619516
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
-
Scholastic Wharehouse Book Sale Shopping Center & Mall
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$18.71M
Blend (final)
Blend
$15.78M
Owner & transaction history
INVESTCO GP BELZ
INVESTCO GP BELZ
Zoning & alternative use
CMU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$18.5M
+32.1%
Apartment house (5+ units)
$17.0M
+21.2%
Office building
$16.9M
+20.7%
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
NEIGHBORHOOD: SHOPPING CENTER
$14,005,000
Current use
AUTO REPAIR, GARAGE
$18,495,000
Change: +32% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$16,975,000
Change: +21% · Conversion: Difficult
OFFICE BUILDING
$16,900,000
Change: +21% · Conversion: Moderate
RETAIL STORES
$14,345,000
Change: +2% · Conversion: Easy
COMMERCIAL (GENERAL)
$11,530,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$15.78M
Range $14.20M – $17.36M · ±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
$83 / 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
$330,995
Tax year 2022
Assessed value
$5,433,600
Assessed 2023
Previous assessed
$5,433,600
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$1,549,280
Assessed improvement
$3,884,320
Land market value
$3,873,200
Improvement market value
$9,710,800
Total market value
$13,584,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1972
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
190,801 SF
Lot
30.75 ac (1,339,470 SF)
Zoning code
CMU-3
APN
063-071- - -00010-C
UPID
US80-1619516
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.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$14.0M
AUTO REPAIR, GARAGE
Est. value
$18.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$17.0M
OFFICE BUILDING
Est. value
$16.9M
RETAIL STORES
Est. value
$14.3M
COMMERCIAL (GENERAL)
Est. value
$11.5M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
1972
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Lot
30.75 ac
Current owner
From public records · entity-resolved
INVESTCO GP BELZ
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 3661, MEMPHIS, TN 38173-0661
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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