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    2821 Highway 43 Leoma, TN 38468

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    2821 Highway 43 Leoma, TN 38468

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    • Self storage facilities
    • 22,500 SF
    • 1.93 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Purser Storage / Storage Facility

    Property Details for 2821 Highway 43

    Year built
    2014
    Lot size
    1.93 lot acres
    Property size
    22,500 SF
    Property type
    Self storage facilities

    Description

    This exceptional investment opportunity encompasses three strategically located self-storage facilities in Tennessee, totaling 167 units and 17,850 net rentable square feet. The portfolio boasts a combined asking price of $800,000, representing a compelling $5,089.82 per unit. Currently operating at 80% occupancy, generating a substantial $65,000 NOI and an 8.12% cap rate. The properties include a mix of recently constructed and renovated buildings. The Leoma location (2821 Hwy 43 S, Leoma, TN 38468), purchased in 2014, features 76 units (8 currently available), and underwent significant expansion in 2019 and 2023, including the addition of three new buildings and a gated facility. The Loretto location (3601 US-43, Loretto, TN 38469), constructed between 2017 and 2018, comprises 36 units (2 currently available). Finally, the Collinwood location (304 TN-13, Collinwood, TN 38450), acquired in 2021, houses 55 units and is currently 100% occupied, with recent rent increases implemented on October 1, 2024. The total lot size across all three locations is 1.93 acres. Detailed financial information, including insurance premiums, utility costs, taxes, pest control expenses, and website management fees, is available upon request. This is a cash sale

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Leoma
    County
    Lawrence
    State
    Tennessee
    Longitude
    -87.3765
    Latitude
    35.1355

    Comparable in this City

    • Value Estimation
      $1,130,000
      60,900 SF

      2366 Hwy 43rd S

      MANUFACTURING (LIGHT) • 60,900 SF
      2366 Hwy 43rd S, Leoma, TN 38468-5223
      View Details
    • Value Estimation by Request
      1,925 SF

      Hwy 43

      WAREHOUSE, STORAGE • 1,925 SF
      Hwy 43, Leoma, TN 38468
      View Details
    • Value Estimation by Request
      2,160 SF

      Hwy 43

      WAREHOUSE, STORAGE • 2,160 SF
      Hwy 43, Leoma, TN 38468
      View Details
    • Value Estimation by Request
      1.00 Acre

      105 Old Jackson Hwy

      COMMERCIAL (GENERAL) • 1.00 Acre
      105 Old Jackson Hwy, Leoma, TN 38468-5366
      View Details
    • Value Estimation by Request
      0.44 Acres

      Hwy 43rd S

      VACANT COMMERCIAL LAND • 2,025 SF
      Hwy 43rd S, Leoma, TN 38468
      View Details
    • Value Estimation by Request
      2,400 SF

      2543 Hwy 43rd S

      COMMERCIAL (GENERAL) • 2,400 SF
      2543 Hwy 43rd S, Leoma, TN 38468-5310
      View Details
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    2821 Highway 43
    Leoma, TN 38468
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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