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Property profile & analytics
OFF-MARKET
Estimated value
$1,325,000
Grocery and convenience stores
1409 Lee Hwy Cleveland, TN 37311-2532
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US80-1959346
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1979
Total area
2,460 SF
Lot
0.68 ac (29,751 SF)
Zoning code
CH
APN
057G B 021.00 000
UPID
US80-1959346
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
-
ANCE #11 Gas Station
-
ABC Convenience Store Grocery & Convenience Store
-
Bitcoin Depot ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.26M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.33M
Owner & transaction history
Paresh Patel · 3 yrs held
Paresh Patel
since 2023
Last sale
$1.4M
4 recorded transactions
Zoning & alternative use
CH · Cleveland, 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 Cleveland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cleveland 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
$1,255,000
ML approach
$1,255,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.33M
Range $1.19M – $1.46M · ±10% · vs last sale $1.40M (Jun 16 2023)
Last sale anchor
$1.40M
Jun 16 2023
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
$539 / 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
$1,765
Tax year 2023
Assessed value
$87,560
Assessed 2023
Previous assessed
$122,640
-28.6% YoY
Effective rate
2.02%
On assessed value
Assessed land
$37,760
Assessed improvement
$49,800
Land market value
$94,400
Improvement market value
$124,500
Total market value
$218,900
Applied tax rate
6.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1979
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Units
1
Rooms
1
Bathrooms
0
Total area
2,460 SF
Lot
0.68 ac (29,751 SF)
Zoning code
CH
APN
057G B 021.00 000
UPID
US80-1959346
Jurisdiction
BRADLEY
Zoning & alternative use
CH · Cleveland, TN
Zoning CH · permitted uses
CH · Cleveland, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cleveland. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1979
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
1
Bathrooms
0
Lot
0.68 ac
Current owner
From public records · entity-resolved
Paresh Patel
Individual
Mailing address
1112 RENAS TER, CHATTANOOGA, TN 37421-3888
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 16, 2023
$1,400,000
Paresh Patel
Dollys Investment INC
Warranty Deed
$1,128,431 · Builtwell Bank
Mar 25, 2002
$1,300,000
A & A International INC
Mr Zip INC
Grant Deed
—
—
—
A & A International INC
—
Deed Of Trust
related
—
—
—
Dollys Investment INC
—
Loan Modification
related
$398,979 · Smartbank
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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