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Property profile & analytics
OFF-MARKET
Estimated value
$1,300,000
Medical Office Space
1423 Morris Blvd Morristown, TN 37813-2975
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US80-0294816
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,357 SF
Lot
1.55 ac (67,518 SF)
APN
032041F G 01100
UPID
US80-0294816
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
-
Amedisys Hospice Care, an Adventa Company Nursing Home
-
Amedisys Home Health Care Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$887k
Blend (final)
Blend
$1.30M
Owner & transaction history
Cherokee Management LP · 2 yrs held
Cherokee Management LP
since 2024
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$920,000
+28.0%
Commercial (general)
$890,000
+23.8%
Auto repair, garage
$870,000
+20.8%
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 Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown 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
$1,300,000
ML approach
$1,300,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$920,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$890,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$870,000
Change: +21% · Conversion: Difficult
RETAIL STORES
$835,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$1.30M
Range $1.17M – $1.43M · ±10% · vs last sale $1.30M (May 21 2024)
Last sale anchor
$1.30M
May 21 2024
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
$114 / 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
Property tax & assessments
Assessed value
$587,520
Assessed 2023
Previous assessed
$587,520
+0.0% YoY
Assessed land
$107,480
Assessed improvement
$480,040
Land market value
$268,700
Improvement market value
$1,200,100
Total market value
$1,468,800
Applied tax rate
32.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Rooms
53
Bathrooms
10
Total area
11,357 SF
Lot
1.55 ac (67,518 SF)
APN
032041F G 01100
UPID
US80-0294816
Jurisdiction
HAMBLEN
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
RESTAURANT
Est. value
$920,000
COMMERCIAL (GENERAL)
Est. value
$890,000
AUTO REPAIR, GARAGE
Est. value
$870,000
RETAIL STORES
Est. value
$835,000
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
53
Bathrooms
10
Lot
1.55 ac
Current owner
From public records · entity-resolved
Cherokee Management LP
Entity
Mailing address
1125 W 1ST N ST STE B, MORRISTOWN, TN 37814-4561
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 1, 2024
—
Cherokee Management LP
—
Deed
related
$910,000 · First Horizon Bank
May 21, 2024
$1,300,000
Cherokee Management LP
Cooze-keinath
Warranty Deed
$910,000 · First Horizon Bank
May 15, 2017
—
Cooze-keinath Ptshp
—
Deed
related
$830,000 · First Tn Bk
Oct 9, 2012
—
Cooze-keinath
Cooze-keinath
Quit Claim Deed
$975,000 · Jefferson Federal Bank
Jun 24, 2004
—
Cooze-keinath
Evans,e R
Quit Claim Deed
related
$75,000 · E R Evans
Aug 25, 1995
—
Keinath Cooze
—
Deed Of Trust
related
—
Jun 6, 1995
—
Cooze-keinath
—
Deed Of Trust
related
—
Apr 1, 1991
$60,000
Presutti-cooze,
Unknown
Grant Deed
—
Mar 19, 1991
$32,500
Presutti-cooze,
Unknown,
Grant Deed
—
Apr 18, 1989
$55,000
James O Helton
Unknown,
Grant Deed
—
—
—
Derek A Cooze
—
Deed Of Trust
related
$700,000 · Jefferson Federal Bank
—
—
Cooze-keinath Ptshp
—
Deed Of Trust
related
$830,000 · First Tn Bk
—
—
Cooze-keinath
—
Deed Of Trust
related
$31,000 · Jefferson Federal Bank
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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