Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    200 Mt Pelia Rd Martin, TN 38237-3804
    Back to Search
    Property profile & analytics

    200 Mt Pelia Rd, Martin, TN 38237-3804

    View on Map
    • Grocery and convenience stores
    • 4,508 SF
    • 14.84 lot acres
    Off-Market
    Last Sale Apr 26, 2023
    $1,663,144
    Property ID
    US80-0776544
    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
    $1,560,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Little General / Grocery & Convenience Store
    • Shell / Restaurant
    • ATM (Little General) / Atm
    • Western Union / Bank / Credit Union

    Property Details for 200 Mt Pelia Rd

    Year built
    2004
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    14.84 lot acres
    Property type
    Grocery and convenience stores
    APN
    092078 01701
    APU
    9207801701

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 26, 2023 $1,663,144 Tri Star Energy LLC Tripod LLC Special Warranty Deed —
    Apr 26, 2023 — Tri Star Energy LLC Tripod LLC Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,415,000
      ML approach
      $1,490,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Martin
    County
    Weakley
    State
    Tennessee
    Longitude
    -88.8719
    Latitude
    36.3308
    CBSA code
    32280
    CBSA name
    MARTIN, TN MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $157,320
    $257,480
    $414,800
    -
    $393,300
    $643,700
    $1,037,000

    Comparable in this City

    • Value Estimation by Request
      3,105 SF

      424 Lindell St

      GROCERY, SUPERMARKET
      424 Lindell St, Martin, TN 38237-1820
      View Details
    • Value Estimation
      $1,200,000
      4,352 SF

      975 Main St

      GROCERY, SUPERMARKET
      975 Main St, Martin, TN 38237-2540
      View Details
    • Value Estimation by Request
      4,434 SF

      5595 Skyhawk Pkwy

      GROCERY, SUPERMARKET
      5595 Skyhawk Pkwy, Martin, TN 38237-2705
      View Details
    • Value Estimation
      $1,435,000
      5,440 SF

      609 Elm St

      GROCERY, SUPERMARKET
      609 Elm St, Martin, TN 38237-3401
      View Details
    • Value Estimation
      $830,000
      3,290 SF

      821 University St

      GROCERY, SUPERMARKET
      821 University St, Martin, TN 38237-1627
      View Details
    • Value Estimation by Request
      2,464 SF

      838 University St

      GROCERY, SUPERMARKET
      838 University St, Martin, TN 38237-1637
      View Details

    Similar Nearby for Sale

    • $750,000
      16,700 SF

      Grocery Store Ready Retail Building

      Freestanding retail building equipped for grocery or food retail.
      4200 Skyhawk Pkwy, Martin, TN 38237
      View Details
    • Contact for pricing
      1,500 SF

      Advance Financial NNN Investment Opportunity

      Absolute NNN lease with corporate backing and annual rent increases.
      163 Commons Dr, Martin, TN 38237
      View Details
    • $745,000
      7,000 SF

      Mixed-Use Investment Opportunity, Martin TN

      Fully leased mixed-use property with retail and residential units.
      233 S Lindell St, Martin, TN 38237
      View Details
    • $1,300,000
      12,940 SF

      Commercial Property in Downtown Martin

      Prime commercial property with established businesses and growth potential.
      115 Neal St, Martin, TN 38237
      View Details
    • Contact for pricing
      12,940 SF

      Commercial Property with Event Space

      Commercial property featuring established businesses, event space, and remodeling.
      115 Neal St, Martin, TN 38237
      View Details
    • $125,000
      5,000 SF

      Historic Downtown Martin Potential Property

      Located in historic downtown Martin, offering business, living, investment potential.
      220 S Lindell St, Martin, TN 38237
      View Details

    Similar Nearby for Lease

    • $7,500 /Mo
      16,700 SF

      Equipped Retail Space in Martin

      Freestanding building equipped for grocery or food retail use.
      4200 Skyhawk Pkwy, Martin, TN 38237
      View Details
    • Contact for pricing

      Commercial Development Land For Rent

      Commercial development land for rent in Martin, Tennessee.
      833 University St, Martin, TN 38237
      View Details
    • Contact for pricing

      Commercial Land in Martin, Tennessee

      Commercial development land available for lease in Martin, Tennessee.
      833 University St, Martin, TN 38237
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    200 Mt Pelia Rd
    Martin, TN 38237-3804
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    200 Mt Pelia Rd, Martin, TN, 38237
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!