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    1609 Shelby Dr Dyersburg, TN 38024
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    1609 Shelby Dr Dyersburg, TN 38024

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    • Commercial real estate
    Off-Market
    Property ID
    US80-1888393
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1609 Shelby Dr

    Property type
    Commercial real estate

    Description

    This exceptional 7,405.2 square foot lot, located at 1609 Shelby Drive in Dyersburg, Tennessee, presents a unique opportunity for both commercial and residential development. Zoned R-3, this property offers significant flexibility for a variety of projects. The 50' x 149' lot is level and ready for construction, making it an ideal site for a single-family home or a multi-family residential development. Its convenient location in Dyersburg, within Dyer County, and its generous size make it a highly attractive investment. The property is situated in zip code 38024, offering easy access to local amenities and transportation routes. With its versatile zoning and prime location, this lot represents a rare chance to acquire a highly desirable piece of land in a thriving Tennessee community. The asking price is $9,500. This is a fantastic opportunity for builders, investors, or anyone looking to build their dream home or develop a profitable multi-family project. Don't miss out on this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Dyersburg
    County
    Dyer
    State
    Tennessee
    Longitude
    -89.3667574
    Latitude
    36.0431803

    Comparable in this City

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      Dyersburg Duplex with Income Potential

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      Dyersburg Duplex: Income Opportunity

      All-brick duplex in Dyersburg, TN, with immediate cash flow.
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      Dyersburg Triplex Investment Opportunity

      Fully occupied triplex with strong rental history in Dyersburg, TN.
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      Dyersburg Duplex: Income Opportunity

      Residential duplex in Dyersburg, TN, ideal for investors.
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    • $94,900
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      Dyersburg Quadplex Investment Opportunity

      Well-maintained quadplex with income potential in a desirable location.
      704 Finley St, Dyersburg, TN 38024
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    Similar Nearby for Sale

    • $69,900
      Pending

      Dyersburg Duplex with Income Potential

      Duplex in Dyersburg, TN with tenant income and vacant unit.
      1826 Schaffer St, Dyersburg, TN 38024
      View Details
    • Contact for pricing
      2,062 SF

      Dyersburg Duplex with Income Potential

      Duplex with one vacant unit and one tenant-occupied unit.
      1826 Schaffer St, Dyersburg, TN 38024
      View Details
    • $125,000
      Pending

      Dyersburg Duplex: Income Opportunity

      All-brick duplex in Dyersburg, TN, with immediate cash flow.
      515 Reynolds Ave, Dyersburg, TN 38024
      View Details
    • $174,900
      Pending

      Dyersburg Triplex Investment Opportunity

      Fully occupied triplex with strong rental history in Dyersburg, TN.
      628 Christie St, Dyersburg, TN 38024
      View Details
    • $217,000
      1,718 SF

      Dyersburg Duplex: Income Opportunity

      Residential duplex in Dyersburg, TN, ideal for investors.
      202 College St, Dyersburg, TN 38024
      View Details
    • $94,900
      3,778 SF

      Dyersburg Quadplex Investment Opportunity

      Well-maintained quadplex with income potential in a desirable location.
      704 Finley St, Dyersburg, TN 38024
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Dyersburg Shopping Center For Lease

      160,000 SF shopping center at US Highway 51 Bypass.
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      Dyersburg Commercial Building For Lease

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      Dyersburg Medical Office Space Available

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    • Contact for pricing

      Retail and Restaurant Space Available

      New retail and restaurant development across from Walmart.
      805 Pennell Lane Ext, Dyersburg, TN 38024
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    • $5,500 /Mo
      5,000 SF

      Versatile Commercial Space in Dyersburg

      Move-in ready, flexible 5000 sq ft commercial space for rent.
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    • $1,800 /Mo
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      Dyersburg Commercial Bar & Restaurant

      Turnkey bar and restaurant available for lease in Dyersburg.
      4671 S 51, Dyersburg, TN 38024
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    Dyersburg, TN 38024
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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