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Property profile & analytics
OFF-MARKET
Estimated value
$3,255,000
Grocery and convenience stores
1622 Middle 10th Blvd Murfreesboro, TN 37130-5108
Entity Owned
3-yr Hold
Free & Clear
Property ID
US80-1655781
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1984
Construction
FRAME
Total area
47,370 SF
Lot
5.68 ac (247,421 SF)
Zoning code
CH
APN
103I-B-014.00-000
UPID
US80-1655781
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
$3.35M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.22M
Blend (final)
Blend
$3.26M
Owner & transaction history
Tenet Equity Funding Spe III LLC · 3 yrs held
Tenet Equity Funding Spe III LLC
since 2023
Last sale
$3.2M
2 recorded transactions
Zoning & alternative use
CH · 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
$2,945,000
ML approach
$3,345,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,170,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$3.26M
Range $2.93M – $3.58M · ±10% · vs last sale $3.20M (May 10 2023)
Last sale anchor
$3.20M
May 10 2023
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
$69 / 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
$37,901
Tax year 2023
Assessed value
$1,339,840
Assessed 2024
Previous assessed
$1,339,840
+0.0% YoY
Effective rate
2.83%
On assessed value
Assessed land
$534,120
Assessed improvement
$805,720
Land market value
$1,335,300
Improvement market value
$2,014,300
Total market value
$3,349,600
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1984
Construction
FRAME
Heating
ZONE
Cooling
YES
Stories
1
Units
1
Bathrooms
17
Total area
47,370 SF
Lot
5.68 ac (247,421 SF)
Zoning code
CH
APN
103I-B-014.00-000
UPID
US80-1655781
Jurisdiction
RUTHERFORD
Zoning & alternative use
CH · Murfreesboro, TN
Zoning CH · permitted uses
CH · 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
WAREHOUSE, STORAGE
Est. value
$5.2M
WAREHOUSE, STORAGE
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
1984
Construction
FRAME
Heating
ZONE
Cooling
Yes
Stories
1
Units
1
Bathrooms
17
Lot
5.68 ac
Current owner
From public records · entity-resolved
Tenet Equity Funding Spe III LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 3037, MCALLEN, TX 78502-3037
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2023
—
Tenet Equity Funding Spe III LLC
—
Deed
related
$450,000,000 · Citibank NA
May 10, 2023
$3,200,000
Tenet Equity Funding Spe III LLC
Kroger Limited Partnership I
Special Warranty 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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