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Property profile & analytics
OFF-MARKET
Estimated value
$3,250,000
Retail space
2206 Memorial Blvd Murfreesboro, TN 37129-5123
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US80-2552022
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2016
Construction
FRAME
Total area
10,200 SF
Lot
1 ac (43,560 SF)
APN
080-028.00-000
UPID
US80-2552022
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
-
The Wine Cellar (Bike/Boat/Book/etc) Store Wine and Liquor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.72M
Blend (final)
Blend
$3.25M
Owner & transaction history
Cap Joint Ventures · 2 yrs held
Cap Joint Ventures
since 2024
Last sale
$3.3M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.1M
+47.5%
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 Murfreesboro submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Murfreesboro 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
$3,250,000
ML approach
$3,250,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,110,000
Current use
COMMERCIAL (GENERAL)
$3,110,000
Change: +47% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,100,000
Change: -1% · Conversion: Moderate
Blend value · Realmo final
$3.25M
Range $2.93M – $3.58M · ±10% · vs last sale $3.25M (Jan 5 2024)
Last sale anchor
$3.25M
Jan 5 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
$319 / 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
$21,478
Tax year 2023
Assessed value
$759,240
Assessed 2024
Previous assessed
$759,240
+0.0% YoY
Effective rate
2.83%
On assessed value
Assessed land
$273,560
Assessed improvement
$485,680
Land market value
$683,900
Improvement market value
$1,214,200
Total market value
$1,898,100
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
2016
Construction
FRAME
Heating
ZONE
Cooling
YES
Stories
1
Bathrooms
2
Total area
10,200 SF
Lot
1 ac (43,560 SF)
APN
080-028.00-000
UPID
US80-2552022
Jurisdiction
RUTHERFORD
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
$2.1M
COMMERCIAL (GENERAL)
Est. value
$3.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.1M
RETAIL STORES Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
2016
Construction
FRAME
Heating
ZONE
Cooling
Yes
Stories
1
Bathrooms
2
Lot
1 ac
Current owner
From public records · entity-resolved
Cap Joint Ventures
Entity
Mailing address
2206 MEMORIAL BLVD, MURFREESBORO, TN 37129-5123
Mailing matches property
Yes
Owner-occupied
Yes
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 5, 2024
$3,250,000
Cap Joint Ventures
Hk Investments Group LLC
Warranty Deed
$2,600,000 · Smartbank
May 15, 2023
—
Hk Investments Group LLC
—
Deed
related
$200,000 · First Nb Of Middle Tennessee
Jun 14, 2021
$2,220,000
Kh Investments Group LLC
Ms Property LLC
Warranty Deed
—
Sep 13, 2016
—
Ms Property LLC
—
Deed
related
$380,000 · Wilson Bk&tr
Oct 23, 2015
—
Ms Property LLC
Patel,mahesh C
Quit Claim Deed
related
—
Sep 16, 2015
$625,000
Mahesh C Patel
Nobles,g Wayne & Kathryn M
Warranty Deed
—
Nov 8, 2007
$250,000
G Wayne Nobles
Bush,howell W & Lois
Warranty Deed
—
—
—
Ms Property LLC
—
Deed Of Trust
related
$380,000 · Wilson Bk&tr
—
—
G Wayne Nobles
—
Deed Of Trust
related
$108,000 · First Tennessee Bank National
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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