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    569 North Mclean Blvd Memphis, TN 38112
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    569 North Mclean Blvd Memphis, TN 38112

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    • Apartment buildings
    • 6,384 SF
    • 0.18 lot acres
    For Sale
    $665,000
    View Listing →
    Midtown Apartment Building with Retail For Sale
    $665,000

    Midtown Apartment Building with Retail

    Seven-unit apartment building with retail space in Midtown.

    569 North McLean Boulevard, Memphis, TN 38112
    View Listing
    Property ID
    US80-1795499
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • OVERTOWN NUTRITION / (Bike/Boat/Book/etc) Store / Pharmacy

    Property Details for 569 North Mclean Blvd

    Year built
    2021
    Lot size
    0.18 lot acres
    Property size
    6,384 SF
    Zone code
    CMU-1
    Property type
    Apartment buildings
    APN
    036-064- - -00014
    APU
    3606400014

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $795,000
      6.5%
      $735,000
      7%
      $680,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $546,000
      Market price range: $267k - $546k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $725,000
      Current use
      MEDICAL BUILDING
      $915,000
      Change: +26% Conversion: Moderate
      OFFICE BUILDING
      $760,000
      Change: +5% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $620,000
      Change: -14% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9977
    Latitude
    35.1533
    CBSA code
    32820
    CBSA name
    MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $24,861
    $9,360
    $398,760
    $408,120
    -
    $23,400
    $996,900
    $1,020,300

    Comparable in this City

    • Value Estimation
      $2,980,000
      35,793 SF

      1918 Pkwy Parkway

      APARTMENT HOUSE (5+ UNITS) • 35,793 SF
      1918 Pkwy Parkway, Memphis, TN 38112-5045
      View Details
    • Value Estimation
      $760,000
      13,232 SF

      3250 Guernsey Ave

      APARTMENT HOUSE (5+ UNITS) • 13,232 SF
      3250 Guernsey Ave, Memphis, TN 38112-1510
      View Details
    • Value Estimation
      $2,385,000
      8,990 SF

      171 Merton St

      APARTMENT HOUSE (5+ UNITS) • 8,990 SF
      171 Merton St, Memphis, TN 38112-3707
      View Details
    • Value Estimation
      $1,325,000
      11,680 SF

      189 Auburndale St

      APARTMENT HOUSE (5+ UNITS) • 11,680 SF
      189 Auburndale St, Memphis, TN 38112-5337
      View Details
    • Value Estimation by Request

      528 Parkway

      Multifamily properties
      528 Parkway, Memphis, TN 38112
      View Details
    • Value Estimation
      $1,265,000
      12,992 SF

      118 Saint Agnes Dr

      APARTMENT HOUSE (5+ UNITS) • 12,992 SF
      118 Saint Agnes Dr, Memphis, TN 38112-4714
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Midtown Apartment Building with Retail

      Seven-unit apartment building with retail space in Midtown.
      569 North Mclean Blvd, Memphis, TN 38112
      View Details
    • New
      $975,000

      Memphis Apartment Building For Sale

      Memphis apartment building with MHA contracts, excellent investment opportunity.
      3250 Guernsey Ave, Memphis, TN 38112
      View Details
    • Contact for pricing

      Fully Leased Memphis Office Building

      Long-term tenants provide stable income in central location.
      2714 Union Avenue Ext, Memphis, TN 38112
      View Details
    • $375,000

      Office, Showroom, Retail Property

      2,500 SF corner property in the Broad Avenue Arts District.
      2526 Sam Cooper Blvd, Memphis, TN 38112
      View Details
    • Contact for pricing

      Commercial Land For Sale

      Commercial land available for self-storage development.
      Summer Ave, Memphis, TN 38112
      View Details
    • Contact for pricing

      Retail Space in Arts District

      2,170 SF retail space in new Broad Avenue development.
      2977 Broad Ave, Memphis, TN 38112
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Arts District

      New retail space in a high-traffic arts district.
      2977 Broad Ave, Memphis, TN 38112
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space on Broad Avenue

      Retail spaces for lease in growing Broad Avenue area.
      2543 Broad Ave, Memphis, TN 38112
      View Details
    • Contact for pricing

      Marquee Red Office Space

      Office building with high visibility on Poplar Avenue.
      2400 Poplar Ave, Memphis, TN 38112
      View Details
    • Contact for pricing
      30,400 SF

      Memphis Warehouse with Dock Doors

      30,400 SF warehouse featuring multiple dock doors.
      2700 Summer Ave, Memphis, TN 38112
      View Details
    • Contact for pricing

      Poplar Avenue Ground Lease Opportunity

      0.886 acres of commercial land available for ground lease.
      2486 Poplar Ave, Memphis, TN 38112
      View Details
    • Contact for pricing
      6,000 SF

      Midtown Flex/Showroom Space Available

      6,000 SF flex/showroom space with high visibility in Memphis.
      174 Collins St, Memphis, TN 38112
      View Details
    View Listing
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    Memphis, TN 38112
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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