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Property profile & analytics
OFF-MARKET
Estimated value
$2,310,000
Warehouses
1603 Northfield Blvd 1609 Murfreesboro, TN 37129-1701
Entity Owned
~
Est. High Equity
Property ID
US80-2324359
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2021
Construction
FRAME
Total area
20,674 SF
Lot
3.52 ac (153,331 SF)
APN
080J-I-003.04-000
UPID
US80-2324359
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
by Request
CAP Approach
CAP
$2.61M
Comparable Approach
Comparable
$1.87M
Blend (final)
Blend
$2.31M
Owner & transaction history
Hpi Self Storage Northfield LLC
Hpi Self Storage Northfield LLC
since 2026
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.9M
+52.0%
Auto repair, garage
$3.7M
+46.2%
Office building
$3.4M
+35.8%
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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,825,000
6.5%
$2,610,000
7%
$2,425,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,535,000
Current use
MEDICAL BUILDING
$3,850,000
Change: +52% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,705,000
Change: +46% · Conversion: Easy
OFFICE BUILDING
$3,440,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$2.31M
Range $2.08M – $2.54M · ±10%
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
$112 / 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
$82,385
Tax year 2023
Assessed value
$2,760,000
Assessed 2024
Previous assessed
$2,912,360
-5.2% YoY
Effective rate
2.98%
On assessed value
Assessed land
$422,640
Assessed improvement
$2,337,360
Land market value
$1,056,600
Improvement market value
$5,843,400
Total market value
$6,900,000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2021
Construction
FRAME
Heating
ZONE
Buildings
2
Units
389
Total area
20,674 SF
Lot
3.52 ac (153,331 SF)
APN
080J-I-003.04-000
UPID
US80-2324359
Jurisdiction
RUTHERFORD
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
WAREHOUSE, STORAGE Current
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$3.9M
AUTO REPAIR, GARAGE
Est. value
$3.7M
OFFICE BUILDING
Est. value
$3.4M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
FRAME
Heating
ZONE
Buildings
2
Units
389
Lot
3.52 ac
Current owner
From public records · entity-resolved
Hpi Self Storage Northfield LLC
Entity
Mailing address
3900 EDISON LKS PKWY, MISHAWAKA, IN 46545-3442
Ownership since
2026
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
May 13, 2026
$7,612,500
Hpi Self Storage Northfield LLC
Mini Storage Depot On Northfield Blvd Ll
Special Warranty Deed
$7,000,000 · Prosperity Bank
Oct 28, 2024
—
Mini Storage Depot On Northfield Bl
—
Deed
related
$5,600,000 · Renasant Bank
Oct 11, 2018
$1,175,000
Mini Storage Depot On Northfie
Beach & Farrer Properties
Grant Deed
$5,600,000 · First Merchants Bk
Nov 15, 2016
—
Beach & Farrer Properties
Challenge Group
Quit Claim Deed
related
$304,411 · First Nat'l Bk/manchester Tn
Nov 28, 2005
—
Challenge Group
Farrer,charles R
Quit Claim Deed
related
$607,000 · Cavalry Banking
Nov 17, 2005
—
Record Owner
Owner,record
Quit Claim Deed
related
—
Oct 7, 2005
$607,289
Charles R Farrer
Alexander Autogroup Realty
Warranty Deed
—
—
—
Challenge Group
—
Deed Of Trust
related
$450,000 · First National Bank Manchester
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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