Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2206 Hillsboro Blvd Manchester, TN 37355-7310
    Back to Search
    Property profile & analytics

    2206 Hillsboro Blvd, Manchester, TN 37355-7310

    View on Map
    • Drive through restaurants
    • 4,016 SF
    • 1.37 lot acres
    Off-Market
    Last Sale Oct 26, 2020
    $2,583,308
    Property ID
    US80-1299702
    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
    $2,475,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bojangles / Restaurant

    Property Details for 2206 Hillsboro Blvd

    Year built
    2016
    Lot size
    1.37 lot acres
    Zone code
    C2
    Property type
    Drive through restaurants
    APN
    016085E A 01700
    APU
    016085EA01700

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 26, 2020 $2,583,308 Carol Severance Separate Prop Hill Of Gray Seven LLC Grant Deed —
    Oct 26, 2020 — Severance C Separate Pro Trust — Deed · related $1.3M · Eastman Cu
    Jun 20, 2016 — Hill Of Gray Seven LLC — Deed · related $1.6M · Wells Fargo Bk
    Jan 7, 2016 $850,000 Hill Of Gray Seven LLC Hodges,a H Warranty Deed —
    — — Hill Of Gray Seven LLC — Deed Of Trust · related $1.6M · Wells Fargo Bk
    — — Severance C Separate Pro Trust — Deed Of Trust · related $1.3M · Eastman Cu

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,400,000
      ML approach
      $2,330,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Coffee
    State
    Tennessee
    Longitude
    -86.0577
    Latitude
    35.459
    CBSA code
    46100
    CBSA name
    TULLAHOMA, 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
    2023
    $18,744
    $151,640
    $364,720
    $516,360
    -
    $379,100
    $911,800
    $1,290,900

    Comparable in this City

    • Value Estimation
      $1,750,000
      3,599 SF

      913 Hillsboro Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD
      913 Hillsboro Blvd, Manchester, TN 37355-2025
      View Details
    • Value Estimation by Request
      2,396 SF

      49 Scott Swinney Dr

      DRIVE-THRU RESTAURANT, FAST FOOD
      49 Scott Swinney Dr, Manchester, TN 37355-7313
      View Details
    • Value Estimation by Request
      2,068 SF

      84 Campground Rd

      DRIVE-THRU RESTAURANT, FAST FOOD
      84 Campground Rd, Manchester, TN 37355-6541
      View Details
    • Value Estimation by Request
      1,848 SF

      1250 Hillsboro Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD
      1250 Hillsboro Blvd, Manchester, TN 37355-2034
      View Details
    • Value Estimation
      $1,645,000
      2,306 SF

      2258 Hillsboro Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD
      2258 Hillsboro Blvd, Manchester, TN 37355-7310
      View Details
    • Value Estimation by Request
      5,050 SF

      2211 Hillsboro Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD
      2211 Hillsboro Blvd, Manchester, TN 37355-7311
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,666 SF

      Retail Space For Sale

      Retail space available, offering a 5.20% CAP rate.
      2314 Hillsboro Blvd, Manchester, TN 37355
      View Details
    • Contact for pricing
      5,000 SF

      Adaptable Commercial Building For Sale

      Spacious commercial building in a high-traffic location, Manchester, TN.
      3371 Murfreesboro Hwy, Manchester, TN 37355
      View Details
    • Contact for pricing

      Commercial Property with Garage

      0.45-acre commercial property with 2000 sq. ft. garage.
      914 Lincoln St, Manchester, TN 37355
      View Details
    • Contact for pricing

      Prime Commercial Land Opportunity

      3.62 acre commercial property at a busy intersection.
      34 Woodbury Hwy, Manchester, TN 37355
      View Details
    • $7,990,000

      Newly Renovated Best Western Hotel

      83-room hotel in Manchester, TN with renovation completed in 2025.
      126 Expressway Dr, Manchester, TN 37355
      View Details
    • $910,000

      Land For Sale Manchester, TN

      Land available near I-24 in Coffee County, Tennessee.
      154 Plantation Dr, Manchester, TN 37355
      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.
    2206 Hillsboro Blvd
    Manchester, TN 37355-7310
    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
    2206 Hillsboro Blvd, Manchester, TN, 37355
    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!