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Property profile & analytics
OFF-MARKET
Estimated value
$2,855,000
Medical Office Space
1203 Memorial Blvd Murfreesboro, TN 37129-2420
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US80-1948022
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1970
Total area
18,186 SF
Lot
1.7 ac (74,052 SF)
APN
091C-L-003.00-000
UPID
US80-1948022
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
-
Concentra Urgent Care Occupational Health Service Medical Clinic
-
Pamela L. Bolen, Nurse Medical Clinic
-
Dr. Frank E. Thomas Jr, MD Physician
-
ABS Kids ABA Therapy Center Medical Clinic
-
Occupational Health & Rehab Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.67M
CAP Approach
CAP
$3.41M
Comparable Approach
Comparable
$2.17M
Blend (final)
Blend
$2.86M
Owner & transaction history
Rbn Memorial Properties LLC · 6 yrs held
Rbn Memorial Properties LLC
since 2020
Last sale
$2.9M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.8M
+11.0%
Neighborhood: shopping center
$3.7M
+10.5%
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 Murfreesboro submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Murfreesboro 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
$3,525,000
ML approach
$3,670,000
CAP Approach
CAP Return
Estimation
6%
$3,695,000
6.5%
$3,410,000
7%
$3,165,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,385,000
Current use
RETAIL STORES
$3,760,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,740,000
Change: +10% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,255,000
Change: -4% · Conversion: Difficult
OFFICE BUILDING
$3,025,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$2.86M
Range $2.57M – $3.14M · ±10% · vs last sale $2.85M (Jan 24 2020)
Last sale anchor
$2.85M
Jan 24 2020
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
$157 / 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
$33,069
Tax year 2023
Assessed value
$1,169,000
Assessed 2024
Previous assessed
$1,169,000
+0.0% YoY
Effective rate
2.83%
On assessed value
Assessed land
$450,160
Assessed improvement
$718,840
Land market value
$1,125,400
Improvement market value
$1,797,100
Total market value
$2,922,500
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1970
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
4
Bathrooms
8
Total area
18,186 SF
Lot
1.7 ac (74,052 SF)
APN
091C-L-003.00-000
UPID
US80-1948022
Jurisdiction
RUTHERFORD
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
MEDICAL BUILDING Current
Est. value
$3.4M
RETAIL STORES
Est. value
$3.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.7M
AUTO REPAIR, GARAGE
Est. value
$3.3M
OFFICE BUILDING
Est. value
$3.0M
MEDICAL BUILDING Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
OFFICE 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
1970
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
4
Bathrooms
8
Lot
1.7 ac
Current owner
From public records · entity-resolved
Rbn Memorial Properties LLC
Entity
Mailing address
PO BOX 11498, MURFREESBORO, TN 37129-0030
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 24, 2020
$2,850,000
Rbn Memorial Properties LLC
Ra Valleydale Gp
Grant Deed
$3,999,414 · Firstbank
Aug 11, 2014
$2,250,000
Ra Valleydale LLC
Memorial Boulevard Center LLC
Grant Deed
$1,800,000 · Pinnacle Bk
Jul 24, 2009
—
Mountain View Center LLC
—
Deed Of Trust
related
$1,144,644 · Mid South Bank
Aug 6, 2007
—
Memorial Boulevard Center LLC
Graby,scott D & Sandra E
Quit Claim Deed
related
—
Apr 5, 2007
$1,700,000
Scott D Graby
Priya Ents LLC
Warranty Deed
$1,338,331 · Mid South Bank
Dec 29, 2000
$1,600,000
Priya Enterprises LLC
Jones-jones LLC
Grant Deed
—
May 12, 1997
—
Tina Jones
Jones,jones LLC
Quit Claim Deed
related
—
—
—
Netherland-jones,llc
—
Deed Of Trust
related
$950,000 · Regionsbank Of Tenn
—
—
Hearthstone Properties LLC
—
Deed Of Trust
related
$1,600,000 · Us Bank NA
—
—
Hearthstone Properties LLC
—
Deed Of Trust
related
$1,600,000 · Us Bank NA
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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