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Property profile & analytics
OFF-MARKET
Estimated value
$2,065,000
Apartment buildings
536 Shelby Grv Dr Cordova, TN 38018-6298
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US80-1560526
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2007
Construction
FRAME
Total area
35,488 SF
Lot
8.34 ac (363,290 SF)
Zoning code
IH
APN
091-080- - -00006
UPID
US80-1560526
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
-
Park's Edge at Shelby Farms Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.51M
Blend (final)
Blend
$2.07M
Owner & transaction history
Parks Edge Borrower LLC · 8 yrs held
Parks Edge Borrower LLC
since 2018
6 recorded transactions
Zoning & alternative use
IH · Cordova, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.2M
+0.6%
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 Cordova submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cordova 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
APARTMENT HOUSE (5+ UNITS)
$3,170,000
Current use
RETAIL STORES
$3,190,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$2.07M
Range $1.86M – $2.27M · ±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
$58 / 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
$378,125
Tax year 2022
Assessed value
$6,207,280
Assessed 2023
Previous assessed
$6,207,280
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$517,320
Assessed improvement
$5,689,960
Land market value
$1,293,300
Improvement market value
$14,224,900
Total market value
$15,518,200
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2007
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
5
Stories
1
Units
40
Bathrooms
9
Total area
35,488 SF
Lot
8.34 ac (363,290 SF)
Zoning code
IH
APN
091-080- - -00006
UPID
US80-1560526
Jurisdiction
SHELBY
Zoning & alternative use
IH · Cordova, TN
Zoning IH · permitted uses
IH · Cordova, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cordova. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.2M
RETAIL STORES
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
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
2007
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
5
Units
40
Bathrooms
9
Lot
8.34 ac
Current owner
From public records · entity-resolved
Parks Edge Borrower LLC
Entity
Mailing address
2200 W 5TH AVE STE #120, COLUMBUS, OH 43215-1061
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2018
—
Parks Edge Borrower LLC
Shelby Farms Apartments LLC
Quit Claim Deed
related
$48,813,000 · Canadian Imperial Bk/commerc
Jun 27, 2008
$25,200,000
Shelby Farms Apartments LLC
Colonial Realty
Grant Deed
—
Jun 27, 2008
$15,800,000
Shelby Farms Apartments LLC
Colonial Properties Svcs INC
Grant Deed
—
Jun 27, 2008
—
Shelby Farms Apartments LLC
Colonial Realty
Quit Claim Deed
related
$18,600,000 · Colonial Props Svcs INC
Feb 19, 2007
$1,013,000
Colonial Properties Svcs INC
Colonial Realty
Grant Deed
related
—
Dec 1, 2005
$25,190,000
Colonial Realty
Schaedle Worthington Hyde Prop
Grant Deed
—
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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