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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Warehouses
2542 Sullins Rd Athens, TN 37303-4960
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US80-3177118
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1996
Construction
FRAME
Total area
7,736 SF
Lot
3.16 ac (137,650 SF)
Zoning code
B-4
APN
054056 00100
UPID
US80-3177118
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
-
MBI Professional Services
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$535k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$572k
Blend (final)
Blend
$505k
Owner & transaction history
James A Bult · 5 yrs held
James A Bult
since 2020
Last sale
$460,000
7 recorded transactions
Zoning & alternative use
B-4 · Athens, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$760,000
+27.3%
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 Athens submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Athens 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
$500,000
ML approach
$535,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$595,000
Current use
COMMERCIAL (GENERAL)
$760,000
Change: +27% · Conversion: Difficult
RETAIL STORES
$585,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $460k (Aug 31 2020)
Last sale anchor
$460k
Aug 31 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
$65 / 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
$2,777
Tax year 2023
Assessed value
$221,440
Assessed 2023
Previous assessed
$123,600
+79.2% YoY
Effective rate
1.25%
On assessed value
Assessed land
$59,800
Assessed improvement
$161,640
Land market value
$149,500
Improvement market value
$404,100
Total market value
$553,600
Applied tax rate
54.0000
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
1996
Construction
FRAME
Heating
YES
Cooling
YES
Stories
1
Units
1
Bathrooms
0
Total area
7,736 SF
Lot
3.16 ac (137,650 SF)
Zoning code
B-4
APN
054056 00100
UPID
US80-3177118
Jurisdiction
MCMINN
Zoning & alternative use
B-4 · Athens, TNZoning B-4 · permitted uses
B-4 · Athens, TN
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
WAREHOUSE, STORAGE Current
Est. value
$595,000
COMMERCIAL (GENERAL)
Est. value
$760,000
RETAIL STORES
Est. value
$585,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
1996
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Units
1
Bathrooms
0
Lot
3.16 ac
Current owner
From public records · entity-resolved
James A Bult
Individual
Mailing address
2627 E 138TH PL, BURNHAM, IL 60633
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 31, 2020
$460,000
James A Bult
Jms Properties LLC
Grant Deed
—
Apr 13, 2010
—
Carl E Mashburn
Lake Terrain LP
Quit Claim Deed
related
—
May 14, 2008
$265,000
Jms Properties LLC
Kelley,t Greg & Vicky D
Warranty Deed
$274,672 · Capitalmark Bank & Trust
Feb 27, 2008
—
Lake Terrain
—
Trustees Deed
related
$1,810,000 · Branch Banking & Trust Co
Jan 16, 2007
$275,000
T Greg Kelley
Lake Terrain
Warranty Deed
$399,000 · First State Bank
Dec 10, 1991
$28,000
Carl E Mashburn
Unknown
Grant Deed
—
—
—
Jms Properties LLC
—
Deed Of Trust
related
$353,041 · Capitalmark Bank & Trust
—
—
Lake Terrain
—
Deed Of Trust
related
$500,000 · Branch Banking & Trust Co
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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