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Property profile & analytics
OFF-MARKET
Estimated value
$760,000
Office Spaces
111 Cherry St Lebanon, TN 37087-3609
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US80-3418713
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1987
Total area
4,572 SF
Lot
92 ac (4,007,520 SF)
APN
068E E 03600
UPID
US80-3418713
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
-
Busy Bee Plumbing Co Plumbing Service General Contractor
-
FQHC 340B Compliance Accounting Firm Tax Preparation
-
Wilson County Judge County Court
-
Local Party Co. Party Supply Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$810k
CAP Approach
CAP
$900k
Comparable Approach
Comparable
$772k
Blend (final)
Blend
$760k
Owner & transaction history
Mgm Enterprises · 4 yrs held
Mgm Enterprises
since 2021
Last sale
$625,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.2M
+16.5%
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
$840,000
ML approach
$810,000
CAP Approach
CAP Return
Estimation
6%
$975,000
6.5%
$900,000
7%
$835,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,000,000
Current use
MEDICAL BUILDING
$1,165,000
Change: +16% · Conversion: Easy
AUTO REPAIR, GARAGE
$895,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$760k
Range $684k – $836k · ±10% · vs last sale $625k (Dec 2 2021)
Last sale anchor
$625k
Dec 2 2021
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
$166 / 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
$3,512
Tax year 2023
Assessed value
$121,440
Assessed 2023
Previous assessed
$121,440
+0.0% YoY
Effective rate
2.89%
On assessed value
Assessed land
$44,160
Assessed improvement
$77,280
Land market value
$110,400
Improvement market value
$193,200
Total market value
$303,600
Applied tax rate
950.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1987
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Units
1
Bathrooms
3
Total area
4,572 SF
Lot
92 ac (4,007,520 SF)
APN
068E E 03600
UPID
US80-3418713
Jurisdiction
WILSON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$895,000
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
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
1987
Heating
YES
Cooling
Yes
Stories
1
Units
1
Bathrooms
3
Lot
92 ac
Current owner
From public records · entity-resolved
Mgm Enterprises
Entity
Mailing address
111 CHERRY ST, LEBANON, TN 37087-3609
Mailing matches property
Yes
Owner-occupied
Yes
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2021
$625,000
Mgm Enterprises
William Matheny
Warranty Deed
$531,250 · Cedarstone Bank
Mar 25, 2019
—
William Matheny
—
Deed
related
$528,000 · Volunteer St Bk
Mar 6, 2019
—
William Matheny
—
Deed
related
$75,000 · Volunteer St Bk
Feb 14, 2018
$490,000
William Matteny
Joe Craven
Warranty Deed
$416,500 · Voluneteer State Bank
May 15, 2007
$195,000
Joe Craven
Hurt,billy
Warranty Deed
—
Jun 30, 2004
$160,000
Billy Hurt
Wilson Systems Ents INC
Warranty Deed
$130,000 · National Bank Commerce Tr & Sa
—
—
William Matheny
—
Loan Modification
related
$75,000 · Volunteer St Bk
—
—
William Matheny
—
Loan Modification
related
$528,000 · Volunteer St Bk
—
—
Joseph S Craven
—
Deed Of Trust
related
$304,890 · Wilson Bank & Trust
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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