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Property profile & analytics
OFF-MARKET
Estimated value
$6,890,000
Retail space
2161 Hillsboro Blvd Manchester, TN 37355-7380
Entity Owned
2-yr Hold
Free & Clear
Property ID
US80-0598768
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
65,074 SF
Lot
11.85 ac (516,186 SF)
APN
016085E A 02901
UPID
US80-0598768
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
-
Goodwill Store Manchester Discount Store
-
Nunley Insurance Insurance Agency
-
Workout Anytime Manchester Gym & Fitness Center
-
Nationwide Insurance: Allison White Baker Agency Insurance Agency
-
Mercados Patty Grocery & Convenience Store Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.95M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.32M
Blend (final)
Blend
$6.89M
Owner & transaction history
Bag3 Manchester Rei LP · 2 yrs held
Bag3 Manchester Rei LP
since 2024
Last sale
$8.9M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.1M
+40.8%
Medical building
$5.6M
+9.6%
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 Manchester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Manchester 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
$5,515,000
ML approach
$4,950,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$5,075,000
Current use
COMMERCIAL (GENERAL)
$7,140,000
Change: +41% · Conversion: Easy
MEDICAL BUILDING
$5,560,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$6.89M
Range $6.20M – $7.58M · ±10% · vs last sale $8.92M (Mar 25 2024)
Last sale anchor
$8.92M
Mar 25 2024
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
$106 / 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
$71,572
Tax year 2023
Assessed value
$1,971,720
Assessed 2023
Previous assessed
$1,971,720
+0.0% YoY
Effective rate
3.63%
On assessed value
Assessed land
$416,160
Assessed improvement
$1,555,560
Land market value
$1,040,400
Improvement market value
$3,888,900
Total market value
$4,929,300
Applied tax rate
16.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Buildings
5
Stories
1
Units
1
Bathrooms
11
Total area
65,074 SF
Lot
11.85 ac (516,186 SF)
APN
016085E A 02901
UPID
US80-0598768
Jurisdiction
COFFEE
Zoning & alternative use
Zoning · permitted uses
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
RETAIL STORES Current
Est. value
$5.1M
COMMERCIAL (GENERAL)
Est. value
$7.1M
MEDICAL BUILDING
Est. value
$5.6M
RETAIL STORES Current
COMMERCIAL (GENERAL)
MEDICAL 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
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
5
Units
1
Bathrooms
11
Lot
11.85 ac
Current owner
From public records · entity-resolved
Bag3 Manchester Rei LP
Entity
Free & Clear · 2 yrs held
Mailing address
125 W SUNBRIDGE DRA, FAYETTEVILLE, AR 72703-1899
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 25, 2024
$8,920,000
Bag3 Manchester Rei LP
Core Whispering Pines LLC
Special Warranty Deed
—
Apr 18, 2022
$6,100,000
Core Whispering Pines LLC
Whispering Wvr LLC
Special Warranty Deed
$4,700,000 · Eclipse Bank INC
Nov 4, 2014
$5,465,000
Whispering Wvr LLC
Whispering Pines Investments
Special Warranty Deed
$3,825,000 · Cornerstone Commercial Mortgag
Jun 5, 2006
—
Freds Stores Of Tennessee INC
Whispering Pine Investments
Grant Deed
related
—
Jul 29, 2002
$2,000,000
Lasalle Bank National Asso
Manchester Partn
Grant Deed
related
—
—
—
Whispering Pines Investments
—
Deed Of Trust
related
$2,100,000 · First Bk/champaign
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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