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Property profile & analytics
FOR SALE
Office buildings
668 Colonial Rd, Memphis, TN 38117
Individually Owned
27-yr Hold
~
Est. High Equity
Property ID
US80-1519301
For Sale
1 / 2
$1,100,000
668 Colonial Rd, Memphis, TN 38117
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Total area
6,035 SF
Lot
0.53 ac (22,913 SF)
Zoning code
R-10
APN
065-037- - -00022
UPID
US80-1519301
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
-
Wills Dental Dental Office
-
Mullins Thomas & Whitfield PLLC Law Firm
-
Kimbrough B Mullins Law Office Law Firm
-
Wills Jr Gordon L DDS Dental Office
-
Mullins Whitfield White & Hillis, PLLC Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$704k
Blend (final)
Blend
$585k
Owner & transaction history
Michael G Alexander · 27 yrs held
Michael G Alexander
since 1999
4 recorded transactions
Zoning & alternative use
R-10 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$865,000
+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
$815,000
Current use
MEDICAL BUILDING
$865,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$585k
Range $527k – $644k · ±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
$97 / 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
$15,331
Tax year 2022
Assessed value
$251,680
Assessed 2023
Previous assessed
$251,680
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$72,360
Assessed improvement
$179,320
Land market value
$180,900
Improvement market value
$448,300
Total market value
$629,200
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
For Sale
Year built
1985
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
6,035 SF
Lot
0.53 ac (22,913 SF)
Zoning code
R-10
APN
065-037- - -00022
UPID
US80-1519301
Jurisdiction
SHELBY
Zoning & alternative use
R-10 · Memphis, TN
Zoning R-10 · permitted uses
R-10 · 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
$815,000
MEDICAL BUILDING
Est. value
$865,000
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
1985
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.53 ac
Current owner
From public records · entity-resolved
Michael G Alexander
Individual
Mailing address
668 COLONIAL RD STE #1, MEMPHIS, TN 38117-5100
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1999
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
May 25, 2021
—
Mullins Colonial Partners LLC
—
Deed
related
$125,000 · Guaranty Bank & Trust Co
Jan 8, 1999
—
Michael G Alexander
Davies,william P
Quit Claim Deed
related
$500,000 · Enterprise National Bank
Jan 8, 1999
$585,000
Balton,stephen M
Colonial Court
Trustees Deed
—
—
—
Mullins Colonial Partners LLC
—
Deed Of Trust
related
$50,000 · Commercial 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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