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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Medical Office Space
230 Bowman St Morristown, TN 37813-3871
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US80-0813566
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1993
Construction
WOOD
Total area
8,643 SF
Lot
1.4 ac (60,984 SF)
APN
032041F A 00203
UPID
US80-0813566
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
-
ReVIDA Recovery Center Medical Clinic
-
DONALD RAY SLEETER Physician
-
MARIANNE E FILKA Pediatrician Physician
-
KEVIN BRANDT JOHNSON Pediatrician Physician
-
Prana Pulmonary Clinic Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$671k
Blend (final)
Blend
$755k
Owner & transaction history
Store Master Funding Vii LLC · 5 yrs held
Store Master Funding Vii LLC
since 2020
Last sale
$798,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$700,000
+28.0%
Commercial (general)
$680,000
+23.8%
Auto repair, garage
$660,000
+20.8%
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 Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$550,000
Current use
RESTAURANT
$700,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$680,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$660,000
Change: +21% · Conversion: Difficult
RETAIL STORES
$635,000
Change: +16% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$580,000
Change: +6% · Conversion: Moderate
Blend value · Realmo final
$755k
Range $680k – $831k · ±10% · vs last sale $798k (Sep 1 2020)
Last sale anchor
$798k
Sep 1 2020
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
$87 / 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
Property tax & assessments
Assessed value
$444,640
Assessed 2023
Previous assessed
$444,640
+0.0% YoY
Assessed land
$98,400
Assessed improvement
$346,240
Land market value
$246,000
Improvement market value
$865,600
Total market value
$1,111,600
Applied tax rate
32.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1993
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Units
1
Rooms
40
Bathrooms
8
Total area
8,643 SF
Lot
1.4 ac (60,984 SF)
APN
032041F A 00203
UPID
US80-0813566
Jurisdiction
HAMBLEN
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
MEDICAL BUILDING Current
Est. value
$550,000
RESTAURANT
Est. value
$700,000
COMMERCIAL (GENERAL)
Est. value
$680,000
AUTO REPAIR, GARAGE
Est. value
$660,000
RETAIL STORES
Est. value
$635,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$580,000
MEDICAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1993
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
40
Bathrooms
8
Lot
1.4 ac
Current owner
From public records · entity-resolved
Store Master Funding Vii LLC
Entity
Mailing address
3322 W END AVE STE #350, NASHVILLE, TN 37203-6911
Ownership since
2020
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
Sep 1, 2020
$798,000
Store Master Funding Vii LLC
Revida Recovery Centers LLC
Grant Deed
related
$1,023,000 · Citibank
Aug 31, 2020
$859,000
Revida Recovery Centers LLC
Harry A Zain
Grant Deed
—
Jun 7, 1995
$3,226,000
Morristown Professional Ct
Morristown,profe
Grant Deed
related
—
Feb 17, 1995
$120,000
Dane Hale
Unknown,
Grant Deed
$175,000 · Terry Charles
Feb 17, 1993
$120,000
Dan E Hale
Unknown
Grant Deed
—
Apr 29, 1992
$112,000
Don Bunch
Unknown,
Grant Deed
—
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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