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Property profile & analytics
OFF-MARKET
Estimated value
$875,000
Medical Office Space
171 Heritage Park Dr Murfreesboro, TN 37129-1573
Entity Owned
4-yr Hold
Free & Clear
Property ID
US80-1900041
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2000
Construction
FRAME
Total area
5,786 SF
Lot
0.75 ac (32,670 SF)
Zoning code
CH
APN
080L-B-020.08-000
UPID
US80-1900041
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
-
Stones River Eye Center Medical Clinic Ophthalmologist
-
Ranz David O MD Ophthalmologist
-
Thomas H. Tritschler, OD Physician
-
Dr. Martin I. Perlmutter, MD Ophthalmologist
-
Dr. Edward Chaum Pediatrician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.09M
Comparable Approach
Comparable
$907k
Blend (final)
Blend
$875k
Owner & transaction history
Pinnacle Bank · 4 yrs held
Pinnacle Bank
since 2021
3 recorded transactions
Zoning & alternative use
CH · Murfreesboro, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+11.0%
Neighborhood: shopping center
$1.2M
+10.5%
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%
$1,175,000
6.5%
$1,085,000
7%
$1,005,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,075,000
Current use
RETAIL STORES
$1,195,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,190,000
Change: +10% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,035,000
Change: -4% · Conversion: Difficult
OFFICE BUILDING
$965,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$875k
Range $788k – $963k · ±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
$151 / 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
Assessed value
$489,320
Assessed 2024
Previous assessed
$489,320
+0.0% YoY
Assessed land
$144,360
Assessed improvement
$344,960
Land market value
$360,900
Improvement market value
$862,400
Total market value
$1,223,300
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2000
Construction
FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
2
Units
1
Bathrooms
3
Total area
5,786 SF
Lot
0.75 ac (32,670 SF)
Zoning code
CH
APN
080L-B-020.08-000
UPID
US80-1900041
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
MEDICAL BUILDING Current
Est. value
$1.1M
RETAIL STORES
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.0M
OFFICE BUILDING
Est. value
$965,000
MEDICAL BUILDING Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
2000
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Units
1
Bathrooms
3
Lot
0.75 ac
Current owner
From public records · entity-resolved
Pinnacle Bank
Entity
Free & Clear · 4 yrs held
Mailing address
214 W COLLEGE ST, MURFREESBORO, TN 37130-3532
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2021
—
Pinnacle Bank
David O Ranz
Quit Claim Deed
related
—
—
—
David Ranz
—
Deed Of Trust
related
$385,000 · First Tennessee Bank National
—
—
David O Ranz
—
Deed Of Trust
related
$39,057 · Pinnacle National Bank
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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