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Property profile & analytics
OFF-MARKET
Self service car washes
640 Raines Rd Memphis, TN 38109-8334
Individually Owned
24-yr Hold
~
Est. High Equity
Property ID
US80-1643422
Property profile
Verified
Property type
Self service car washes
Use group
CAR WASH - SELF-SERVE
Year built
1982
Total area
2,350 SF
Lot
0.76 ac (33,018 SF)
Zoning code
CMU-1
APN
076-013- - -00066
UPID
US80-1643422
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Kenneth W Riggs · 24 yrs held
Kenneth W Riggs
since 2001
3 recorded transactions
Zoning & alternative use
CMU-1 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,403
Tax year 2022
Assessed value
$39,440
Assessed 2023
Previous assessed
$39,440
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$21,240
Assessed improvement
$18,200
Land market value
$53,100
Improvement market value
$45,500
Total market value
$98,600
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
Self service car washes
Use group
CAR WASH - SELF-SERVE
Status
Off-Market
Year built
1982
Heating
NONE
Cooling
NONE
Stories
1
Units
5
Total area
2,350 SF
Lot
0.76 ac (33,018 SF)
Zoning code
CMU-1
APN
076-013- - -00066
UPID
US80-1643422
Jurisdiction
SHELBY
Zoning & alternative use
CMU-1 · Memphis, TN
Zoning CMU-1 · permitted uses
CMU-1 · 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.
Building & site characteristics
From public records
Year built
1982
Heating
NONE
Cooling
Yes
Stories
1
Units
5
Lot
0.76 ac
Current owner
From public records · entity-resolved
Kenneth W Riggs
Individual
Mailing address
4865 SHERRY DR, HORN LAKE, MS 38637-9722
Ownership since
2001
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
Nov 7, 2001
$265,000
Kenneth W Riggs
Breazeal,spencer S
Grant Deed
$175,000 · Spencer S Breazeal
—
—
Kenneth W Riggs
—
Deed Of Trust
related
$120,156 · Bank Of Fayette County
—
—
Kenneth W Riggs
—
Deed Of Trust
related
$523,522 · Peoples Bank & Trust
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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