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Property profile & analytics
OFF-MARKET
Estimated value
$1,325,000
Warehouses
240 2nd N Ave Franklin, TN 37064-2501
Entity Owned
5-yr Hold
Free & Clear
Property ID
US80-1033841
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1950
Total area
1,845 SF
Lot
3.09 ac (134,600 SF)
APN
094063N B 06500
UPID
US80-1033841
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$518k
Blend (final)
Blend
$1.33M
Owner & transaction history
240 2nd Street Franklin LLC · 5 yrs held
240 2nd Street Franklin LLC
since 2020
Last sale
$1.0M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+206.2%
Retail stores
$1.0M
+199.4%
Commercial (general)
$900,000
+160.6%
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 Franklin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Franklin 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
AUTO REPAIR, GARAGE
$1,060,000
Change: +206% · Conversion: Easy
RETAIL STORES
$1,035,000
Change: +199% · Conversion: Moderate
COMMERCIAL (GENERAL)
$900,000
Change: +161% · Conversion: Difficult
Blend value · Realmo final
$1.33M
Range $1.19M – $1.46M · ±10% · vs last sale $1.00M (Aug 18 2020)
Last sale anchor
$1.00M
Aug 18 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
$718 / 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
$14,244
Tax year 2023
Assessed value
$523,440
Assessed 2023
Previous assessed
$523,440
+0.0% YoY
Effective rate
2.72%
On assessed value
Assessed land
$519,120
Assessed improvement
$4,320
Land market value
$1,297,800
Improvement market value
$10,800
Total market value
$1,308,600
Applied tax rate
263.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1950
Heating
YES
Stories
1
Units
1
Bathrooms
0
Total area
1,845 SF
Lot
3.09 ac (134,600 SF)
APN
094063N B 06500
UPID
US80-1033841
Jurisdiction
WILLIAMSON
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
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$900,000
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
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
1950
Heating
YES
Stories
1
Units
1
Bathrooms
0
Lot
3.09 ac
Current owner
From public records · entity-resolved
240 2nd Street Franklin LLC
Entity
Free & Clear · 5 yrs held
Mailing address
18331 PNES BLVD #319, PEMBROKE PINES, FL 33029-1421
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 22, 2026
—
203 Downs Ave LLC
—
Deed
related
$5,600,000
Mar 11, 2026
—
240 2nd Street Franklin LLC
—
Deed
related
$1,487,543 · Republic Bank & Trust Co
Aug 18, 2020
$1,000,000
240 2nd Street Franklin LLC
Charlie B Mitchell JR.
Grant Deed
—
Sep 12, 2017
$200,000
Charlie B Mitchell JR
Coleman,dorothy L W
Warranty Deed
—
May 15, 2017
—
Dorothy L W Coleman
Worley,dorothy J B
Quit Claim Deed
related
—
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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