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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Garden apartment buildings
669 Adams Ave Memphis, TN 38105-4929
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US80-2006035
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1959
Total area
6,336 SF
Lot
0.26 ac (11,108 SF)
Zoning code
RU-4
APN
023-009- - -00010
UPID
US80-2006035
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 Moose @ Memphis Apartment Building Furnished Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$525k
CAP Approach
CAP
$730k
Comparable Approach
Comparable
$581k
Blend (final)
Blend
$670k
Owner & transaction history
Moose Apartments LLC · 5 yrs held
Moose Apartments LLC
since 2021
Last sale
$780,000
3 recorded transactions
Zoning & alternative use
RU-4 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$905,000
+32.7%
Office building
$755,000
+10.6%
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
$625,000
ML approach
$525,000
CAP Approach
CAP Return
Estimation
6%
$790,000
6.5%
$730,000
7%
$675,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$685,000
Current use
MEDICAL BUILDING
$905,000
Change: +33% · Conversion: Moderate
OFFICE BUILDING
$755,000
Change: +11% · Conversion: Moderate
AUTO REPAIR, GARAGE
$615,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$670k
Range $603k – $737k · ±10% · vs last sale $780k (Jun 9 2021)
Last sale anchor
$780k
Jun 9 2021
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
$106 / 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
$5,292
Tax year 2022
Assessed value
$86,880
Assessed 2023
Previous assessed
$86,880
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$22,200
Assessed improvement
$64,680
Land market value
$55,500
Improvement market value
$161,700
Total market value
$217,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1959
Heating
SPACE
Cooling
NONE
Stories
1
Units
12
Bathrooms
1
Total area
6,336 SF
Lot
0.26 ac (11,108 SF)
Zoning code
RU-4
APN
023-009- - -00010
UPID
US80-2006035
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
$685,000
MEDICAL BUILDING
Est. value
$905,000
OFFICE BUILDING
Est. value
$755,000
AUTO REPAIR, GARAGE
Est. value
$615,000
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1959
Heating
SPACE
Cooling
Yes
Stories
1
Units
12
Bathrooms
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
Moose Apartments LLC
Entity
Mailing address
92 IS PL, MEMPHIS, TN 38103-8844
Ownership since
2021
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
Jun 9, 2021
$780,000
Moose Apartments LLC
Todd P Frankel
Warranty Deed
—
May 1, 2017
—
Todd P Frankel
—
Deed
related
$771,000 · Orion FCU
—
—
Todd P Frankel
—
Deed Of Trust
related
$771,000 · Orion FCU
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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