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Property profile & analytics
OFF-MARKET
Estimated value
$3,985,000
Retail properties & Spaces
2550 Morris Blvd Morristown, TN 37813-5827
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US80-0740988
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
73,596 SF
Lot
4.83 ac (210,395 SF)
APN
032034 01004
UPID
US80-0740988
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
-
Great American Cookies (Bike/Boat/Book/etc) Store Bakery
-
Carousel Pets Inc (Bike/Boat/Book/etc) Store Pet Store
-
FYE (Bike/Boat/Book/etc) Store
-
AT&T Store Mobile Phone Store Electronics & Wireless Store
-
Benefit Cosmetics BrowBar Beauty Counter Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.71M
Blend (final)
Blend
$3.99M
Owner & transaction history
College Square Owner LLC · 3 yrs held
College Square Owner LLC
since 2022
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.4M
+36.3%
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 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
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
RETAIL STORES
$4,705,000
Current use
AUTO REPAIR, GARAGE
$6,415,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$3.99M
Range $3.59M – $4.38M · ±10%
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
$54 / 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
$1,514,880
Assessed 2023
Previous assessed
$1,514,880
+0.0% YoY
Assessed land
$251,840
Assessed improvement
$1,263,040
Land market value
$629,600
Improvement market value
$3,157,600
Total market value
$3,787,200
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 properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Rooms
15
Bathrooms
3
Total area
73,596 SF
Lot
4.83 ac (210,395 SF)
APN
032034 01004
UPID
US80-0740988
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
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.7M
AUTO REPAIR, GARAGE
Est. value
$6.4M
RETAIL STORES Current
AUTO REPAIR, GARAGE
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
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
15
Bathrooms
3
Lot
4.83 ac
Current owner
From public records · entity-resolved
College Square Owner LLC
Entity
Mailing address
PO BOX 2148, MILWAUKEE, WI 53201-2148
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2022
—
College Square Owner LLC
College Square 201 Clinton LLC
Quitclaim Deed
related
$2,000,000 · Lafayette FCU
Oct 15, 2021
—
Sba Structures LLC
—
Deed
related
$574,260,000 · Deutsche Bank Trust Co Americas
Jun 25, 2020
—
Sba Structures LLC
—
Deed
related
—
Jan 24, 2006
$2,700,000
Kohls Department Stores INC
Belk Department Stores
Grant Deed
—
Jul 6, 2005
$1,900,000
Belk Department Stores
Carson Pirie Holdings INC
Quit Claim Deed
related
—
Mar 29, 1993
$270,000
Proffitts INC
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.
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