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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Warehouses
644 Madison Ave Memphis, TN 38103-3346
Entity Owned
2-yr Hold
Free & Clear
Property ID
US80-1882176
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1953
Total area
13,200 SF
Lot
0.22 ac (9,583 SF)
Zoning code
CBD
APN
023-016- - -00044
UPID
US80-1882176
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
-
Rootstock Wine Merchants Specialty Food Shop Wine and Liquor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$510k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$561k
Blend (final)
Blend
$540k
Owner & transaction history
400 Main LLC · 2 yrs held
400 Main LLC
since 2023
Last sale
$575,000
2 recorded transactions
Zoning & alternative use
CBD · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$800,000
+43.4%
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
$475,000
ML approach
$510,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$560,000
Current use
RETAIL STORES
$800,000
Change: +43% · Conversion: Moderate
Blend value · Realmo final
$540k
Range $486k – $594k · ±10% · vs last sale $575k (Jul 10 2020)
Last sale anchor
$575k
Jul 10 2020
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
$41 / 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
$7,471
Tax year 2022
Assessed value
$122,640
Assessed 2023
Previous assessed
$122,640
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$44,680
Assessed improvement
$77,960
Land market value
$111,700
Improvement market value
$194,900
Total market value
$306,600
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1953
Heating
SPACE
Cooling
NONE
Stories
1
Total area
13,200 SF
Lot
0.22 ac (9,583 SF)
Zoning code
CBD
APN
023-016- - -00044
UPID
US80-1882176
Jurisdiction
SHELBY
Zoning & alternative use
CBD · Memphis, TN
Zoning CBD · permitted uses
CBD · 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
WAREHOUSE, STORAGE Current
Est. value
$560,000
RETAIL STORES
Est. value
$800,000
WAREHOUSE, STORAGE 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
1953
Heating
SPACE
Cooling
Yes
Stories
1
Lot
0.22 ac
Current owner
From public records · entity-resolved
400 Main LLC
Entity
Free & Clear · 2 yrs held
Mailing address
676 MARSHALL AVE STE #101, MEMPHIS, TN 38103-3341
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 24, 2023
$132,500
400 Main LLC
Anntonia P Magruder
Warranty Deed
—
Jul 10, 2020
$575,000
Pat K Magruder JR
Lorraine Teeters
Warranty Deed
$1,074,858 · First Com'l Bk
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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