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Property profile & analytics
FOR SALE
Warehouses
241 1St St SW Cleveland, TN 37311
Individually Owned
20-yr Hold
~
Est. High Equity
Property ID
US80-0927295
For Sale
$349,900
241 1St St SW, Cleveland, TN 37311
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1972
Total area
4,199 SF
Lot
0.12 ac (5,406 SF)
Zoning code
MU
APN
049N L 001.00 000
UPID
US80-0927295
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
James T Owen · 20 yrs held
James T Owen
since 2006
4 recorded transactions
Zoning & alternative use
MU · Cleveland, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
2.13 MU District (Mixed Use). 2.13.1 Uses allowed. The MU (Mixed Use) District includes the following uses: A. All Uses Allowed by Right in the R-1, R-2, R-3, R-5, CN, PI, and CG Districts. 2.13.2 Conditional uses. A. All uses allowed by right in the CH and IL Districts which are not otherwise allowed by right in the MU District. 2.14 IL District (Light Indu…
Zone name
Mixed Use
General category
MIXED_USE
Zone area
348.35 ac
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 Cleveland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cleveland 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$602
Tax year 2023
Assessed value
$41,840
Assessed 2023
Previous assessed
$41,840
+0.0% YoY
Effective rate
1.44%
On assessed value
Assessed land
$12,440
Assessed improvement
$29,400
Land market value
$31,100
Improvement market value
$73,500
Total market value
$104,600
Applied tax rate
6.0000
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
For Sale
Year built
1972
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Rooms
1
Bathrooms
1
Total area
4,199 SF
Lot
0.12 ac (5,406 SF)
Zoning code
MU
APN
049N L 001.00 000
UPID
US80-0927295
Jurisdiction
BRADLEY
Zoning & alternative use
MU · Cleveland, TNZoning MU · permitted uses
MU · Cleveland, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
2.13 MU District (Mixed Use). 2.13.1 Uses allowed. The MU (Mixed Use) District includes the following uses: A. All Uses Allowed by Right in the R-1, R-2, R-3, R-5, CN, PI, and CG Districts. 2.13.2 Conditional uses. A. All uses allowed by right in the CH and IL Districts which are not otherwise allowed by right in the MU District. 2.14 IL District (Light Industry). 2.14.1 The IL (Light Industry) District, includes the following uses: A. Existing or replacement of single family or multi -family developments on existing sites subject to the section 3.0 Site Design Standards for
Zone name
Mixed Use
General category
MIXED_USE
Zone area
348.35 ac
Building & site characteristics
From public records
Year built
1972
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Rooms
1
Bathrooms
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
James T Owen
Individual
Mailing address
350 2ND ST SW, CLEVELAND, TN 37311-5915
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2006
$85,000
James T Owen
Worth,denny & Julia
Warranty Deed
$110,000 · Southern Heritage Bank
Feb 26, 1996
$75,000
Laboratories Wilson
—
Grant Deed
related
—
Nov 7, 1994
$226,000
Don And Wilson
Carlton,norman L
Grant Deed
—
Oct 4, 1990
$58,000
Norman L Carlton
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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