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Property profile & analytics
OFF-MARKET
Estimated value
$1,630,000
Strip malls
815 Exocet Dr, Cordova, TN 38018-2255
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US80-1334858
Property summary
AI-generated overview
Patriot Square, located at 815 Exocet Dr, Memphis, TN 38018, offers a prime retail opportunity in Cordova's thriving N. Germantown Parkway corridor. This Class A retail center, built in 1997, comprises two single-story buildings totaling 51,619 square feet and features 16 suites. Currently, 2,800 square feet of space is available, divisible to a minimum of 1,400 square feet and a maximum contiguous space of 2,800 square feet. The center enjoys high visibility along N. Germantown Parkway, a major retail artery with 59,000 vehicles passing daily. Its strategic location benefits from the significant foot traffic generated by nearby high-performing retailers including Walmart, Kroger, and CVS, all ranking in the top 20% for foot traffic in Tennessee. Patriot Square's tenant mix includes entertainment, restaurant, retail, and service businesses, creating a vibrant and attractive environment. The property is ideal for retail or educational users and offers attractive tenant improvement allowances and rent abatement. This is an exceptional opportunity to establish a presence in a high-traffic, established retail center.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1997
Total area
20,479 SF
Lot
1.76 ac (76,840 SF)
Zoning code
IH
APN
091-033- - -00008-C
UPID
US80-1334858
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
-
Golden City Chinese Cuisine Restaurant
-
EnV Restaurant
-
Cyber Networks Information Services Computer Security Service
-
Journey Christian Church Church Mosque
-
AMIN Center Church Mosque
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.77M
Blend (final)
Blend
$1.63M
Owner & transaction history
Pg Patriot I LLC · 4 yrs held
Pg Patriot I LLC
since 2022
1 recorded transaction
Zoning & alternative use
IH · Cordova, 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 Cordova submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cordova 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)
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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
Blend value · Realmo final
$1.63M
Range $1.47M – $1.79M · ±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
$80 / 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
$29,240
Tax year 2022
Assessed value
$480,000
Assessed 2023
Previous assessed
$480,000
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$283,600
Assessed improvement
$196,400
Land market value
$709,000
Improvement market value
$491,000
Total market value
$1,200,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1997
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
20,479 SF
Lot
1.76 ac (76,840 SF)
Zoning code
IH
APN
091-033- - -00008-C
UPID
US80-1334858
Jurisdiction
SHELBY
Zoning & alternative use
IH · Cordova, TN
Zoning IH · permitted uses
IH · Cordova, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cordova. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1997
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.76 ac
Current owner
From public records · entity-resolved
Pg Patriot I LLC
Entity
Mailing address
141 PROVIDENCE RD STE #200, CHAPEL HILL, NC 27514-6200
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2022
—
Pg Patriot I LLC
—
Deed
related
$3,087,000 · Standard Insurance Co
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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