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Property profile & analytics
FOR LEASE
Office buildings
889 Ridge Lake Blvd Memphis, TN 38120
Individually Owned
4-yr Hold
Free & Clear
Property ID
US80-1647102
For Lease
1 / 2
$17,330,000
889 Ridge Lake Blvd, Memphis, TN 38120
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1981
Total area
103,252 SF
Lot
4.55 ac (198,242 SF)
Zoning code
OG
APN
080-023- -J-00001
UPID
US80-1647102
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
-
Walker Commercial Properties Real Estate Agency
-
American Home Shield Headquarters Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.85M
Blend (final)
Blend
$17.33M
Owner & transaction history
Economic Dev Growth Engine Industri · 4 yrs held
Economic Dev Growth Engine Industri
since 2021
7 recorded transactions
Zoning & alternative use
OG · Memphis, 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 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
$17,850,000
Current use
MEDICAL BUILDING
$14,770,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$17.33M
Range $15.60M – $19.06M · ±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
$168 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$259,565
Tax year 2021
Land market value
$3,126,900
Improvement market value
$7,402,200
Total market value
$10,529,100
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 Lease
Year built
1981
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
103,252 SF
Lot
4.55 ac (198,242 SF)
Zoning code
OG
APN
080-023- -J-00001
UPID
US80-1647102
Jurisdiction
SHELBY
Zoning & alternative use
OG · Memphis, TN
Zoning OG · permitted uses
OG · 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
$17.9M
MEDICAL BUILDING
Est. value
$14.8M
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
1981
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
4.55 ac
Current owner
From public records · entity-resolved
Economic Dev Growth Engine Industri
Individual
Free & Clear · 4 yrs held
Mailing address
100 PEABODY PL STE #1100, MEMPHIS, TN 38103-3652
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 21, 2021
—
Economic Dev Growth Engine Industri
Boyle 889 Rlpb Partnership
Special Warranty Deed
—
Mar 6, 2020
—
Boyle-889 Rlb Ptshp
—
Deed
related
$7,000,000 · First Horizon Bk
Feb 13, 2018
—
Boyle-889 Rlb Ptshp
Industrial Dev Board Of City/me
Quit Claim Deed
related
—
Aug 25, 2010
—
Industrial Dev Board Of City/memp
Boyle-889 Rlb Ptshp
Grant Deed
related
—
Sep 29, 2000
—
Massey Partners
Erb,imogene F & John L
Quit Claim Deed
related
—
Dec 10, 1999
$1,360,000
Boyle Trust & Investment Co
Boyle North Co LLC
Grant Deed
related
—
Sep 22, 1999
$1,694,448
Boyle Investment Co
Boyle North Co LLC
Grant Deed
related
—
Aug 12, 1999
$869,329
Whitten Partnership Ltd
Boyle North Co LLC
Grant Deed
—
Jul 6, 1999
—
Boyle Investment Co
889 Ridgelake Boulevard Ptshp
Quit Claim Deed
related
—
—
—
Boyle Investment Co
—
Deed Of Trust
related
$7,000,000 · Jefferson Pilot Financial Ins
—
—
Boyle-889 Rlb Ptshp
—
Deed Of Trust
related
$7,000,000 · First Horizon Bk
—
—
Boyle-889 Rlb Ptshp
—
Deed Of Trust
related
$6,900,000 · Woodmen Of World Life Insuranc
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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