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Property profile & analytics
FOR SALE
Warehouses
190 Mill Rd Covington, TN 38019
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US80-2335904
For Sale
1 / 2
Contact for pricing
190 Mill Rd, Covington, TN 38019
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1900
Construction
WOOD
Total area
53,000 SF
Lot
15.74 ac (685,634 SF)
Zoning code
M2
APN
084041N A 00100
UPID
US80-2335904
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
-
R&R Solutions Business To Business Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.23M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.14M
Owner & transaction history
Green Dreams LLC · 3 yrs held
Green Dreams LLC
since 2023
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
M2 · Covington, 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 Covington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Covington 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
$1,070,000
ML approach
$1,230,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,645,000
Current use
Blend value · Realmo final
$1.14M
Range $1.02M – $1.25M · ±10% · vs last sale $1.10M (Jun 13 2023)
Last sale anchor
$1.10M
Jun 13 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
$21 / 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
$7,317
Tax year 2022
Assessed value
$319,000
Assessed 2023
Previous assessed
$223,000
+43.0% YoY
Effective rate
2.29%
On assessed value
Assessed land
$115,680
Assessed improvement
$203,320
Land market value
$289,200
Improvement market value
$508,300
Total market value
$797,500
Applied tax rate
84.0000
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
WAREHOUSE, STORAGE
Status
For Sale
Year built
1900
Construction
WOOD
Heating
YES
Cooling
YES
Buildings
4
Stories
1
Units
1
Bathrooms
5
Total area
53,000 SF
Lot
15.74 ac (685,634 SF)
Zoning code
M2
APN
084041N A 00100
UPID
US80-2335904
Jurisdiction
TIPTON
Zoning & alternative use
M2 · Covington, TNZoning M2 · permitted uses
M2 · Covington, TN
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
$1.6M
WAREHOUSE, STORAGE Current
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
1900
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Buildings
4
Units
1
Bathrooms
5
Lot
15.74 ac
Current owner
From public records · entity-resolved
Green Dreams LLC
Entity
Mailing address
601 1ST AVE NW, GRAVETTE, AR 72736-9779
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 25, 2023
—
Green Dreams LLC
—
Deed
related
$880,000 · Simmons Bank
Jun 13, 2023
$1,100,000
Green Dreams LLC
Tipton Property Investors LLC
Special Warranty Deed
$880,000 · Simmons Bank
Jun 13, 2023
—
Green Dreams LLC
Tipton Property Investors LLC
Quit Claim Deed
related
—
Dec 18, 2017
$300,000
Tipton Property Investors LLC
Walton,john & Stacy
Warranty Deed
—
Sep 21, 2017
$300,000
John Walton
Lim,khiok C
Warranty Deed
—
Oct 8, 2012
$407,000
Kaymuck Woo
Mathis,linda J
Trustees Deed
—
Jan 9, 2006
$265,000
Terranova Adrian Trust
Jones Companies Ltd-lp
Grant Deed
—
Jan 9, 2006
—
Terranova Properties LLC
Terranova Adrian Trust
Quit Claim Deed
related
$375,000 · Kl Investors
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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