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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Retail space
156 Hwy 22nd S Reagan, TN 38368-6200
Individually Owned
1-yr Hold
Free & Clear
Property ID
US80-2305388
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2021
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,640 SF
Lot
5.39 ac (234,788 SF)
APN
039144 01007
UPID
US80-2305388
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$615k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$962k
Blend (final)
Blend
$765k
Owner & transaction history
David Wayne Grant · 1 yrs held
David Wayne Grant
since 2025
Last sale
$823,100
7 recorded transactions
Zoning & alternative use
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 Reagan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reagan 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
$605,000
ML approach
$615,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$670,000
Current use
COMMERCIAL (GENERAL)
$655,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$765k
Range $689k – $842k · ±10% · vs last sale $823k (Jan 3 2025)
Last sale anchor
$823k
Jan 3 2025
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
$72 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$5,560
Tax year 2022
Assessed value
$329,240
Assessed 2023
Previous assessed
$234,520
+40.4% YoY
Effective rate
1.69%
On assessed value
Assessed land
$20,720
Assessed improvement
$308,520
Land market value
$51,800
Improvement market value
$771,300
Total market value
$823,100
Applied tax rate
39.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2021
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
10,640 SF
Lot
5.39 ac (234,788 SF)
APN
039144 01007
UPID
US80-2305388
Jurisdiction
HENDERSON
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
RETAIL STORES Current
Est. value
$670,000
COMMERCIAL (GENERAL)
Est. value
$655,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
2021
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
5.39 ac
Current owner
From public records · entity-resolved
David Wayne Grant
Individual
Free & Clear · 1 yrs held
Mailing address
225 OLD DYERSBURG RD, DYER, TN 38330-4027
Ownership since
2025
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
Jan 3, 2025
$823,100
David Wayne Grant
Jack Finch Carthel
Warranty Deed
—
Nov 17, 2022
$1,450,000
Jack Finch Carthal
Susan A Cox
Warranty Deed
—
Mar 4, 2021
$85,000
Susan A Cox
Jonathan Rushing
Warranty Deed
$1,008,865 · Security Bank & Trust
Jan 3, 2019
$60,000
Jonathan Rushing
Bailey,nell
Warranty Deed
—
Dec 19, 2011
$60,000
Bailey,larry V SR & Nell
Peoples Bk
Grant Deed
—
Apr 8, 2011
$80,000
Peoples Bk
Sigler,r Bradley
Trustees Deed
related
—
Apr 18, 2007
$110,000
Bailey,james T
Harmon,lanis & Martha
Warranty Deed
$87,000 · Peoples Bk
Nov 26, 1991
$5,000
James W Bartholomew
Unknown
Grant Deed
—
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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