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    Property profile & analytics

    265 Warehouse Rd Morrison, TN 37357

    • Commercial real estate
    • 40,000 SF
    • 5.62 lot acres
    For Sale
    View listing
    $2,280,000
    Last Sale
    Jun 16, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1823699
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Intelliclean Solutions, LLC / Vacuum Cleaning System Supplier
    • Cameron & Barkley Co Inc / Electrical Supply Store

    Property Details for 265 Warehouse Rd

    Year built
    1999
    Construction
    FRAME
    Lot size
    5.62 lot acres
    Property size
    40,000 SF
    Property type
    Commercial real estate
    APN
    089097 00513
    APU
    8909700513

    Description

    This exceptional investment opportunity presents a 40,000-square-foot warehouse situated on a 4-acre lot in Morrison, Tennessee, at 265 Warehouse Rd, zip code 37357. Built in 2003, this vacant industrial property boasts two units and is zoned CI, offering significant flexibility for various uses. The warehouse features four loading docks and two dock-high doors, ensuring efficient loading and unloading operations. Ceiling heights vary, with 15,000 square feet offering 20-foot clearance and 25,000 square feet providing 24-foot clearance. This spacious layout is easily divisible, making it ideal for multiple tenants or a single large operation. The property's ample size and strategic location in Warren County, Tennessee, present a compelling investment opportunity for service, light industrial, or warehousing businesses. The asking price is $2,280,000. While previously leased, the property is currently vacant and ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,320,000
      Market price range: $1.22M - $5.03M
      AI Estimate
      $1,022,000
      Market price range: $756k - $3.87M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Morrison
    County
    Warren
    State
    Tennessee
    Longitude
    -85.8981
    Latitude
    35.6164
    CBSA code
    32660
    CBSA name
    MCMINNVILLE, TN MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $22,480
    $177,960
    $200,440
    -
    $56,200
    $444,900
    $501,100

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation by Request
      0.50 Acres

      344 Finger Blf Rd

      COMMERCIAL (GENERAL) • 0.50 Acres
      344 Finger Blf Rd, Morrison, TN 37357-6247
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    • Value Estimation by Request
      10,000 SF

      Smartt Sta Rd

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      150 Fair St

      COMMERCIAL (GENERAL)
      150 Fair St, Morrison, TN 37357
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      8,400 SF

      349 Tom Grissom Rd

      COMMERCIAL (GENERAL) • 8,400 SF
      349 Tom Grissom Rd, Morrison, TN 37357-5941
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    • Value Estimation by Request
      3,168 SF

      5204 Manchester Hwy

      COMMERCIAL (GENERAL) • 3,168 SF
      5204 Manchester Hwy, Morrison, TN 37357-7575
      View Details

    Similar Nearby for Sale

    • $350,000
      16.00 Acres

      McMinnville Commercial Land - 16 Acres

      Prime 16-acre commercial lot, ready for development.
      0 Manchester Hwy, Morrison, TN 37357
      View Details
    • $2,280,000
      40,000 SF

      Morrison, TN Warehouse Investment

      40,000 SF Warehouse - $2.28M
      265 Warehouse Rd, Morrison, TN 37357
      View Details
    • $92,900
      Pending

      Land with Mountain Views

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    265 Warehouse Rd
    Morrison, TN 37357
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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