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Property profile & analytics
OFF-MARKET
Estimated value
$740,000
Office buildings
707 Adams Ave Memphis, TN 38105-5045
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US80-1827573
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1860
Total area
7,532 SF
Lot
0.6 ac (25,962 SF)
Zoning code
RU-4
APN
023-021- - -00001
UPID
US80-1827573
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
-
Aerosol Information Technology Tech Support Center (Bike/Boat/Book/etc) Store
-
Kaplan & Bingham Law Firm Child Welfare Organization
-
Lockard James O Law Firm
-
James Bingham, Attorney Law Firm
-
Mediation, Arbitration and Alternative Dispute Resolution Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$715k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$480k
Blend (final)
Blend
$740k
Owner & transaction history
Regents Park Qozb I LLC · 4 yrs held
Regents Park Qozb I LLC
since 2022
Last sale
$725,000
7 recorded transactions
Zoning & alternative use
RU-4 · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.1M
+19.9%
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
$785,000
ML approach
$715,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$900,000
Current use
MEDICAL BUILDING
$1,075,000
Change: +20% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$810,000
Change: -10% · Conversion: Easy
AUTO REPAIR, GARAGE
$730,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$740k
Range $666k – $814k · ±10% · vs last sale $725k (May 11 2022)
Last sale anchor
$725k
May 11 2022
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
$98 / 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
$8,840
Tax year 2022
Assessed value
$145,120
Assessed 2023
Previous assessed
$145,120
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$90,760
Assessed improvement
$54,360
Land market value
$226,900
Improvement market value
$135,900
Total market value
$362,800
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1860
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
7,532 SF
Lot
0.6 ac (25,962 SF)
Zoning code
RU-4
APN
023-021- - -00001
UPID
US80-1827573
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
OFFICE BUILDING Current
Est. value
$900,000
MEDICAL BUILDING
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$810,000
AUTO REPAIR, GARAGE
Est. value
$730,000
OFFICE BUILDING Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1860
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
Regents Park Qozb I LLC
Entity
Mailing address
272 CT AVE, MEMPHIS, TN 38103-2373
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2022
$725,000
Regents Park Qozb I LLC
Unity Properties INC
Warranty Deed
—
Dec 3, 2020
—
Unity Properties INC
—
Deed
related
$9,970 · Bank Of Fayette Cnty
Nov 12, 2019
—
Unity Properties INC
—
Trustees Deed
related
$577,000 · Bank Of Fayette Cnty
Aug 17, 2017
—
Unity Properties INC
—
Deed
related
$336,000 · Banktennessee
Oct 9, 2015
$230,000
Unity Properties INC
Lockard,james O
Warranty Deed
$184,000 · Banktennessee
Nov 16, 2001
$25,000
James O Lockard
Adams Partnership
Quit Claim Deed
related
$148,093 · National Bank Commerce Tr & Sa
—
—
Unity Properties INC
—
Deed Of Trust
related
$136,000 · Banktennessee
—
—
Unity Properties INC
—
Loan Modification
related
$336,000 · Banktennessee
—
—
Unity Properties INC
—
Loan Modification
related
$9,970 · Bank Of Fayette Cnty
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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