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Property profile & analytics
OFF-MARKET
Estimated value
$2,415,000
Warehouses
213 Nesbitt Ln Madison, TN 37115-2612
Entity Owned
28-yr Hold
~
Est. High Equity
Property ID
US80-1704716
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1987
Total area
18,235 SF
Lot
1.53 ac (66,647 SF)
Zoning code
IWD
APN
042-08-0-086-00
UPID
US80-1704716
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
-
Triangle Fastener Corporation Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.80M
Comparable Approach
Comparable
$2.60M
Blend (final)
Blend
$2.42M
Owner & transaction history
Perrylynn Investment Co LLC · 28 yrs held
Perrylynn Investment Co LLC
since 1998
1 recorded transaction
Zoning & alternative use
IWD · Madison, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.0M
+22.5%
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 Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison 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%
$3,030,000
6.5%
$2,800,000
7%
$2,600,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,275,000
Current use
OFFICE BUILDING
$4,015,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$2.42M
Range $2.17M – $2.66M · ±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
$132 / 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
$21,133
Tax year 2023
Assessed value
$649,440
Assessed 2023
Previous assessed
$591,440
+9.8% YoY
Effective rate
3.25%
On assessed value
Assessed land
$133,280
Assessed improvement
$516,160
Land market value
$333,200
Improvement market value
$1,290,400
Total market value
$1,623,600
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1987
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
18,235 SF
Lot
1.53 ac (66,647 SF)
Zoning code
IWD
APN
042-08-0-086-00
UPID
US80-1704716
Jurisdiction
DAVIDSON
Zoning & alternative use
IWD · Madison, TN
Zoning IWD · permitted uses
IWD · Madison, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.3M
OFFICE BUILDING
Est. value
$4.0M
WAREHOUSE, STORAGE Current
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
1987
Heating
SPACE
Cooling
Yes
Stories
1
Lot
1.53 ac
Current owner
From public records · entity-resolved
Perrylynn Investment Co LLC
Entity
Mailing address
1925 PREBLE AVE, PITTSBURGH, PA 15233-2243
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 20, 1998
$545,000
Perrylynn Investment Co LLC
Scales,thomas R
Grant Deed
$700,000 · Mellon Bank NA
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.
Try Rey
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