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Property profile & analytics
OFF-MARKET
Estimated value
$92,530,000
Warehouses
1015 Hixson Blvd Lebanon, TN 37090-1409
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US80-2377991
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2022
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
934,232 SF
Lot
88.34 ac (3,848,090 SF)
Zoning code
IP
APN
116 02000
UPID
US80-2377991
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$99.57M
Blend (final)
Blend
$92.53M
Owner & transaction history
Central 840 Logistics Center Ilp Ll · 3 yrs held
Central 840 Logistics Center Ilp Ll
since 2022
Last sale
$87.0M
7 recorded transactions
Zoning & alternative use
IP · Lebanon, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
l Mixed Use 14.305. Commercial District Regulations o A. COM-Office and Medical o B. CS - Suburban Commercial o C. CI - Interchange Commercial o D. CF - State and County Fair 14.306. Industrial District Regulations o A. IP - Planned Business Industrial o B. IL - Light Industrial o C. IH - Heavy Industrial Chapter 4 - Overlay and Special Districts 14.401. FPD…
Zone name
Planned Business Industrial
General category
INDUSTRIAL
Zone area
4,121.92 ac
Top alternative use upside
Retail stores
$108.6M
+14.2%
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 Lebanon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lebanon 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
$96,545,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$95,095,000
Current use
RETAIL STORES
$108,585,000
Change: +14% · Conversion: Moderate
Blend value · Realmo final
$92.53M
Range $83.28M – $101.78M · ±10% · vs last sale $87.00M (Aug 26 2022)
Last sale anchor
$87.00M
Aug 26 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
$99 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$458,064
Tax year 2023
Assessed value
$17,655,880
Assessed 2023
Previous assessed
$17,655,880
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$2,279,160
Assessed improvement
$15,376,720
Land market value
$5,697,900
Improvement market value
$38,441,800
Total market value
$44,139,700
Applied tax rate
95.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2022
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
RADIANT
Stories
1
Bathrooms
1
Total area
934,232 SF
Lot
88.34 ac (3,848,090 SF)
Zoning code
IP
APN
116 02000
UPID
US80-2377991
Jurisdiction
WILSON
Zoning & alternative use
IP · Lebanon, TNZoning IP · permitted uses
IP · Lebanon, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
l Mixed Use 14.305. Commercial District Regulations o A. COM-Office and Medical o B. CS - Suburban Commercial o C. CI - Interchange Commercial o D. CF - State and County Fair 14.306. Industrial District Regulations o A. IP - Planned Business Industrial o B. IL - Light Industrial o C. IH - Heavy Industrial Chapter 4 - Overlay and Special Districts 14.401. FPD - Floodplain Overlay District 14.402. AP - Airport Overlay District 14.403. HPD -
Zone name
Planned Business Industrial
General category
INDUSTRIAL
Zone area
4,121.92 ac
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$95.1M
RETAIL STORES
Est. value
$108.6M
WAREHOUSE, STORAGE Current
RETAIL STORES
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
2022
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
RADIANT
Stories
1
Bathrooms
1
Lot
88.34 ac
Current owner
From public records · entity-resolved
Central 840 Logistics Center Ilp Ll
Individual
Mailing address
1201 3RD AVE STE #3000, SEATTLE, WA 98101-3013
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 26, 2022
$87,000,000
Central 840 Logistics Center Ilp Ll
Central 840 Logistics Center LLC
Special Warranty Deed
$43,500,000 · State Farm Life Insurance Co
Aug 26, 2022
—
Central 840 Logistics Center Ilp Ll
Central 840 Logistics Center LLC
Intrafamily Transfer
related
—
Sep 21, 2021
—
Central 840 Logistics Center LLC
City Of Lebanon
Quit Claim Deed
related
—
Nov 24, 2020
—
Central 840 Logistics Ctr LLC
Mcquest Properties LLC
Quit Claim Deed
—
Nov 24, 2020
$7,629,920
Central 840 Logistics Ctr LLC
Mcquest Properties LLC
Grant Deed
—
Jul 5, 2016
$2,400,000
Mcquest Properties LLC
Delacey J G
Warranty Deed
—
Jul 12, 2007
—
Delacey J G
Delacey,j G & Evelyn Y
Quit Claim Deed
related
—
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
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