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Property profile & analytics
OFF-MARKET
Estimated value
$9,860,000
High-rise multifamily apartments
6 Mclean Blvd Memphis, TN 38104-3980
Individually Owned
8-yr Hold
Absentee Owner
Property ID
US80-0544544
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1929
Total area
93,788 SF
Lot
1.62 ac (70,567 SF)
Zoning code
RU-4
APN
017-053- - -00001-C
UPID
US80-0544544
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
-
The Gilmore Apartments Apartment Building
-
Casm Creations Art Gallery
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$10.78M
Comparable Approach
Comparable
$11.63M
Blend (final)
Blend
$9.86M
Owner & transaction history
Gilmore Assocs General Ptshp · 8 yrs held
Gilmore Assocs General Ptshp
since 2018
4 recorded transactions
Zoning & alternative use
RU-4 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$15.1M
+83.9%
Medical building
$13.4M
+63.9%
Retail stores
$11.3M
+38.0%
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%
$11,670,000
6.5%
$10,775,000
7%
$10,005,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$8,185,000
Current use
RESTAURANT
$15,055,000
Change: +84% · Conversion: Difficult
MEDICAL BUILDING
$13,415,000
Change: +64% · Conversion: Moderate
RETAIL STORES
$11,295,000
Change: +38% · Conversion: Difficult
OFFICE BUILDING
$10,615,000
Change: +30% · Conversion: Moderate
AUTO REPAIR, GARAGE
$9,090,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,885,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$9.86M
Range $8.87M – $10.85M · ±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
$105 / 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
$168,738
Tax year 2022
Assessed value
$2,770,000
Assessed 2023
Previous assessed
$2,770,000
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$100,120
Assessed improvement
$2,669,880
Land market value
$250,300
Improvement market value
$6,674,700
Total market value
$6,925,000
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
1929
Heating
NONE
Cooling
NONE
Buildings
2
Stories
6
Units
130
Bathrooms
3
Total area
93,788 SF
Lot
1.62 ac (70,567 SF)
Zoning code
RU-4
APN
017-053- - -00001-C
UPID
US80-0544544
Jurisdiction
SHELBY
Zoning & alternative use
RU-4 · Memphis, TN
Zoning RU-4 · permitted uses
RU-4 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$8.2M
RESTAURANT
Est. value
$15.1M
MEDICAL BUILDING
Est. value
$13.4M
RETAIL STORES
Est. value
$11.3M
OFFICE BUILDING
Est. value
$10.6M
AUTO REPAIR, GARAGE
Est. value
$9.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.9M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1929
Heating
NONE
Cooling
Yes
Stories
6
Buildings
2
Units
130
Bathrooms
3
Lot
1.62 ac
Current owner
From public records · entity-resolved
Gilmore Assocs General Ptshp
Individual
Mailing address
65 UN AVE STE #1200, MEMPHIS, TN 38103-5144
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2018
—
Gilmore Assocs General Ptshp
—
Deed
related
$5,900,000 · Miscellaneous Ins Co
Jun 1, 2017
—
Gilmore Associates LP
—
Deed
related
$4,000,000 · Financial Fed'l Bk
—
—
Gilmore Associates LP
—
Deed Of Trust
related
$4,000,000 · Financial Fed'l Bk
—
—
Gilmore Assocs General Ptshp
—
Deed Of Trust
related
$5,900,000 · Miscellaneous Ins Co
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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