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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Office buildings
556 Colonial Rd, Memphis, TN 38117-4023
Entity Owned
18-yr Hold
Property ID
US80-3287624
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1941
Total area
3,596 SF
Lot
0.45 ac (19,471 SF)
Zoning code
RW
APN
056-007- - -00045
UPID
US80-3287624
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
-
Elizabeth Kuhlo | Ware Jones, REALTORS Real Estate Agency
-
Shelly Rainwater, Ware Jones Realtors Real Estate Agency
-
Lauren Harkins Wiuff, Ware Jones, REALTORS Real Estate Agency
-
Dean Dumpster Rental Waste Management Facility
-
Ware Jones Realtors Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$610k
Blend (final)
Blend
$615k
Owner & transaction history
Kruchten Investments LLC · 18 yrs held
Kruchten Investments LLC
since 2008
3 recorded transactions
Zoning & alternative use
RW · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$515,000
+5.9%
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
OFFICE BUILDING
$485,000
Current use
MEDICAL BUILDING
$515,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$615k
Range $554k – $677k · ±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
$171 / 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
$13,290
Tax year 2022
Assessed value
$218,160
Assessed 2023
Previous assessed
$218,160
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$115,520
Assessed improvement
$102,640
Land market value
$288,800
Improvement market value
$256,600
Total market value
$545,400
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1941
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
9
Bathrooms
3
Total area
3,596 SF
Lot
0.45 ac (19,471 SF)
Zoning code
RW
APN
056-007- - -00045
UPID
US80-3287624
Jurisdiction
SHELBY
Zoning & alternative use
RW · Memphis, TN
Zoning RW · permitted uses
RW · 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
OFFICE BUILDING Current
Est. value
$485,000
MEDICAL BUILDING
Est. value
$515,000
OFFICE BUILDING Current
MEDICAL BUILDING
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
1941
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
9
Bathrooms
3
Lot
0.45 ac
Current owner
From public records · entity-resolved
Kruchten Investments LLC
Entity
Mailing address
6294 RIV VW CV, MEMPHIS, TN 38120-2615
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 18, 2018
—
Kruchten Investments LLC
—
Deed
related
$487,100 · Bank3
Jan 9, 2008
$450,000
Kruchten Investments LLC
Smith Madge S Living Trust
Warranty Deed
$535,500 · Magna Bank Fsb
—
—
Kruchten Investments LLC
—
Deed Of Trust
related
$487,100 · Bank3
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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