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Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Commercial real estate
145 Locke Rd Somerville, TN 38068-1662
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US80-0572042
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1974
Construction
FRAME
Total area
4,964 SF
Lot
6.1 ac (265,716 SF)
Zoning code
GM
APN
024090E A 02901
UPID
US80-0572042
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
-
Kings Customs LLC Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$650k
CAP Approach
CAP
$775k
Comparable Approach
Comparable
$405k
Blend (final)
Blend
$650k
Owner & transaction history
Michael J Harrison · 1 yrs held
Michael J Harrison
since 2024
Last sale
$650,000
6 recorded transactions
Zoning & alternative use
GM · Somerville, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Retail stores
$590,000
+87.4%
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 Somerville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Somerville 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
$650,000
ML approach
$650,000
CAP Approach
CAP Return
Estimation
6%
$840,000
6.5%
$775,000
7%
$720,000
Alternative Use
Use
Estimation
RETAIL STORES
$590,000
Change: +87% · Conversion: Easy
Blend value · Realmo final
$650k
Range $585k – $715k · ±10% · vs last sale $650k (Oct 25 2024)
Last sale anchor
$650k
Oct 25 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
$131 / 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
$72,920
Assessed 2023
Previous assessed
$72,920
+0.0% YoY
Assessed land
$24,080
Assessed improvement
$48,840
Land market value
$60,200
Improvement market value
$122,100
Total market value
$182,300
Applied tax rate
24.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1974
Construction
FRAME
Heating
YES
Buildings
3
Stories
1
Units
1
Bathrooms
2
Total area
4,964 SF
Lot
6.1 ac (265,716 SF)
Zoning code
GM
APN
024090E A 02901
UPID
US80-0572042
Jurisdiction
FAYETTE
Zoning & alternative use
GM · Somerville, TNZoning GM · permitted uses
GM · Somerville, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$590,000
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
1974
Construction
FRAME
Heating
YES
Stories
1
Buildings
3
Units
1
Bathrooms
2
Lot
6.1 ac
Current owner
From public records · entity-resolved
Michael J Harrison
Individual
Mailing address
5764 RAYBEN CIR, MEMPHIS, TN 38115-2062
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 16, 2025
—
Michael J Harrison
—
Deed
related
—
Oct 25, 2024
$650,000
Michael J Harrison
Russell A Siegfried
Warranty Deed
$530,112 · The Bank Of Fayette County
Jul 20, 2017
$150,000
Russell A Siegfried
First Alliance Bank
Special Warranty Deed
$150,000 · The Bank Of Fayette County
Jul 28, 2010
$543,000
First Alliance Bk
Minor Lancelot L III
Trustees Deed
—
—
—
Ron G Davis
—
Deed Of Trust
related
$619,200 · First Alliance Bank Fsb
—
—
Ron Davis
—
Deed Of Trust
related
$286,000 · Union Planters National 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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