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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Drive through restaurants
2323 Morris Blvd Morristown, TN 37813-1942
Individually Owned
2-yr Hold
Free & Clear
Property ID
US80-1125031
Property summary
AI-generated overview
This exceptional 0.768-acre commercial land parcel presents a unique investment opportunity in Morristown, Tennessee. Located at 2323 E. Morris Blvd, this property boasts 330 feet of frontage on a major east-west arterial road, ensuring high visibility and accessibility. Its strategic location adjacent to the bustling College Square Mall and in close proximity to Walters State Community College guarantees significant foot and vehicular traffic. The site currently houses a newly constructed Arby's restaurant, further demonstrating its prime commercial viability. This property is ideally suited for a variety of uses, including but not limited to a car wash, bank, oil change facility, automotive-related business, or quick-service restaurant (QSR). The lot size allows for flexibility
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2022
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,424 SF
Lot
0.84 ac (36,590 SF)
APN
032034F G 01000
UPID
US80-1125031
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
-
Arby's Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$675k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$675k
Owner & transaction history
Dianne M Seeley · 2 yrs held
Dianne M Seeley
since 2024
Last sale
$675,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$675,000
ML approach
$675,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$675k
Range $608k – $743k · ±10% · vs last sale $675k (Jul 1 2024)
Last sale anchor
$675k
Jul 1 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
$278 / 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
$377,360
Assessed 2023
Previous assessed
$188,680
+100.0% YoY
Assessed land
$166,320
Assessed improvement
$211,040
Land market value
$415,800
Improvement market value
$527,600
Total market value
$943,400
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
2022
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Units
1
Rooms
3
Bathrooms
3
Total area
2,424 SF
Lot
0.84 ac (36,590 SF)
APN
032034F G 01000
UPID
US80-1125031
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
Building & site characteristics
From public records
Year built
2022
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
3
Bathrooms
3
Lot
0.84 ac
Current owner
From public records · entity-resolved
Dianne M Seeley
Individual
Free & Clear · 2 yrs held
Mailing address
1111 METROPOLITAN AVE STE #700, CHARLOTTE, NC 28204-3424
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2024
$675,000
Dianne M Seeley
Justin Sterling
Special Warranty Deed
—
Apr 4, 2024
—
Justin Sterling
—
Deed
related
$427,500 · United Community Bank
Aug 25, 2023
$2,862,385
C Christopher Tull
Christopher Tull
Special Warranty Deed
—
Jun 29, 2022
$925,000
Brumit Restaurant Group LLC
Don Bunch
Special Warranty Deed
$2,010,000 · Hometrust Bank
Jun 29, 2022
—
Brumit Restaurant Group LLC
Don Bunch
Quit Claim Deed
related
—
Mar 5, 2021
$400,000
Don Bunch
Store Master Funding II LLC
Special Warranty Deed
—
Sep 26, 2014
$1,500,000
Store Master Funding Vi LLC
Tennessee Land Co
Warranty Deed
$1,530,000 · Citibank
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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