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Property profile & analytics
OFF-MARKET
Estimated value
$20,185,000
Specialty properties
1540 Lascassas Pike, Murfreesboro, TN 37130-0630
Entity Owned
4-yr Hold
Free & Clear
Property ID
US80-3420033
Property profile
Verified
Property type
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Year built
1998
Construction
FRAME
Total area
319,589 SF
Lot
20.93 ac (911,711 SF)
Zoning code
RM16
APN
090B-B-016.00-000
UPID
US80-3420033
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
-
Ark Infrastructure Ltd Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$20.19M
Owner & transaction history
1540 Place Associates LLC · 4 yrs held
1540 Place Associates LLC
since 2022
Last sale
$19.6M
7 recorded transactions
Zoning & alternative use
RM16 · Murfreesboro, 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 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
$21,335,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
$26,150,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$25,810,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$20.19M
Range $18.17M – $22.20M · ±10% · vs last sale $19.61M (May 26 2022)
Last sale anchor
$19.61M
May 26 2022
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
$63 / 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
$226,304
Tax year 2023
Assessed value
$8,000,000
Assessed 2024
Previous assessed
$8,000,000
+0.0% YoY
Effective rate
2.83%
On assessed value
Assessed land
$1,465,120
Assessed improvement
$6,534,880
Land market value
$3,662,800
Improvement market value
$16,337,200
Total market value
$20,000,000
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
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Status
Off-Market
Year built
1998
Construction
FRAME
Heating
HEAT PUMP
Cooling
YES
Stories
1
Bathrooms
241
Total area
319,589 SF
Lot
20.93 ac (911,711 SF)
Zoning code
RM16
APN
090B-B-016.00-000
UPID
US80-3420033
Jurisdiction
RUTHERFORD
Zoning & alternative use
RM16 · Murfreesboro, TN
Zoning RM16 · permitted uses
RM16 · Murfreesboro, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Murfreesboro. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
Est. value
$26.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$25.8M
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
NEIGHBORHOOD: SHOPPING CENTER
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
1998
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Bathrooms
241
Lot
20.93 ac
Current owner
From public records · entity-resolved
1540 Place Associates LLC
Entity
Free & Clear · 4 yrs held
Mailing address
9237 WARD PKWY, KANSAS CITY, MO 64114-3365
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 21, 2022
—
1540 Place Associates LLC
Vesper 1540 Tic I LLC
Correction Deed
related
—
May 26, 2022
—
Vesper 1540 Tic 1 LLC
Cref3 Sh Mtsu Owner LLC
Quit Claim Deed
related
$29,000,000 · East West Bank
Oct 29, 2021
—
Cref3 Sh Mtsu Owner LLC
College Grove Apartments LLC
Quit Claim Deed
related
—
Oct 29, 2021
$19,606,990
Cref3 Sh Mtsu Ownr LLC
Colelge Grove Apartments LLC
Special Warranty Deed
—
Jun 21, 2013
$20,700,000
College Grove Apartments LLC
Edr Murfreesboro LLC
Grant Deed
$16,000,000 · General Electric Capital Corp
Jan 9, 2009
—
Edr Murfreesboro LLC
—
Deed Of Trust
related
$197,735,000 · Red Mortgage Capital INC
Apr 29, 2005
$900,000
Edr Murfreesboro LLC
Boston Capital Univ Ctyd LLC
Warranty Deed
—
Dec 14, 1998
$331,660
Boston Capital University
Unknown
Grant Deed
related
—
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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