Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,840,000
Retail space
2531 Morris Blvd Morristown, TN 37813-1900
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US80-1913459
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1998
Construction
WOOD
Total area
6,260 SF
Lot
0.95 ac (41,382 SF)
Zoning code
HI
APN
032034F I 00800
UPID
US80-1913459
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
-
Dunkin' Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.84M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.84M
Owner & transaction history
Zurich Equity Holdings LLC · 1 yrs held
Zurich Equity Holdings LLC
since 2024
Last sale
$1.8M
7 recorded transactions
Zoning & alternative use
HI · Morristown, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Heavy Industrial District was established to provide areas in which the principal use of land is for manufacturing and other heavy uses with which there are associated adverse effects on surrounding property, no other use, with the exception of light industrial uses, is permitted in this district without being reviewed by the Board of Zoning Appeals
Zone name
Heavy Industrial District
General category
INDUSTRIAL
Zone area
4,367.44 ac
Source
Realmo
Top alternative use upside
Restaurant
$1.8M
+356.9%
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
$1,840,000
ML approach
$1,840,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,830,000
Change: +357% · Conversion: Easy
Blend value · Realmo final
$1.84M
Range $1.66M – $2.02M · ±10% · vs last sale $1.84M (Aug 15 2024)
Last sale anchor
$1.84M
Aug 15 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
$294 / 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
$394,920
Assessed 2023
Previous assessed
$388,000
+1.8% YoY
Assessed land
$195,040
Assessed improvement
$199,880
Land market value
$487,600
Improvement market value
$499,700
Total market value
$987,300
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1998
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Units
1
Rooms
8
Bathrooms
2
Total area
6,260 SF
Lot
0.95 ac (41,382 SF)
Zoning code
HI
APN
032034F I 00800
UPID
US80-1913459
Jurisdiction
HAMBLEN
Zoning & alternative use
HI · Morristown, TNZoning HI · permitted uses
HI · Morristown, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Heavy Industrial District was established to provide areas in which the principal use of land is for manufacturing and other heavy uses with which there are associated adverse effects on surrounding property, no other use, with the exception of light industrial uses, is permitted in this district without being reviewed by the Board of Zoning Appeals
Zone name
Heavy Industrial District
General category
INDUSTRIAL
Zone area
4,367.44 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$1.8M
RESTAURANT
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
1998
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
8
Bathrooms
2
Lot
0.95 ac
Current owner
From public records · entity-resolved
Zurich Equity Holdings LLC
Entity
Mailing address
19 E MSN ST STE B, SANTA BARBARA, CA 93101-2459
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Aug 15, 2024
$1,840,000
Zurich Equity Holdings LLC
Plumas Pines Golf Course LP
Special Warranty Deed
—
Apr 5, 2013
$1,087,900
Mtw LLC
Gec LLC
Warranty Deed
—
Sep 27, 2002
—
Bayrock Investments
Quality Manageme
Trustees Deed
related
—
May 4, 1994
$125,000
County Line Partners
Unknown
Grant Deed
—
Aug 22, 1988
$32,258
J R Warren
Unknown,
Grant Deed
—
—
—
Enstent,llc
—
Deed Of Trust
related
$255,000 · First Tennessee Bank National
—
—
Mtw LLC
—
Deed Of Trust
related
$1,275,000 · Stonegate Bk
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2531 Morris Blvd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
