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Property profile & analytics
OFF-MARKET
Estimated value
$2,540,000
Warehouses
5315 Summer Ave, Memphis, TN 38122-4421
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US80-1772959
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1983
Total area
38,319 SF
Lot
2.54 ac (110,425 SF)
Zoning code
CMU-3
APN
068-001- - -00029
UPID
US80-1772959
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
-
U-Haul Moving & Storage at Summer Ave Storage Facility
-
U-Haul Trailer Hitches Auto Parts Store
-
Truck Sales at U-Haul Car Dealership
-
Propane Refill at U-Haul Truck Rental Agency Gas Cylinders Supplier
-
Self-Storage at U-Haul Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.37M
Blend (final)
Blend
$2.54M
Owner & transaction history
Arec 8 LLC · 20 yrs held
Arec 8 LLC
since 2005
2 recorded transactions
Zoning & alternative use
CMU-3 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.7M
+147.6%
Apartment house (5+ units)
$3.4M
+127.2%
Office building
$3.4M
+126.3%
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
AUTO REPAIR, GARAGE
$3,715,000
Change: +148% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$3,410,000
Change: +127% · Conversion: Difficult
OFFICE BUILDING
$3,395,000
Change: +126% · Conversion: Difficult
RETAIL STORES
$2,880,000
Change: +92% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,815,000
Change: +88% · Conversion: Moderate
Blend value · Realmo final
$2.54M
Range $2.29M – $2.79M · ±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
$66 / 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
$40,380
Tax year 2022
Assessed value
$662,880
Assessed 2023
Previous assessed
$662,880
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$236,000
Assessed improvement
$426,880
Land market value
$590,000
Improvement market value
$1,067,200
Total market value
$1,657,200
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1983
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
38,319 SF
Lot
2.54 ac (110,425 SF)
Zoning code
CMU-3
APN
068-001- - -00029
UPID
US80-1772959
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
AUTO REPAIR, GARAGE
Est. value
$3.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.4M
OFFICE BUILDING
Est. value
$3.4M
RETAIL STORES
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.8M
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
1983
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.54 ac
Current owner
From public records · entity-resolved
Arec 8 LLC
Entity
Mailing address
PO BOX 29046, PHOENIX, AZ 85038-9046
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2005
$2,700,000
Arec 8 LLC
Amerco Real Estate
Deed Of Trust
related
$240,000,000 · Morgan Stanley Mtg Capital INC
—
—
Arec 8 LLC
—
Deed Of Trust
related
$270,000,000 · 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.
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