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Property profile & analytics
OFF-MARKET
Estimated value
$6,240,000
Warehouses
2765 Michigan Ave NE Rd Cleveland, TN 37323-5403
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US80-1043139
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1981
Construction
FRAME
Total area
179,016 SF
Lot
23.07 ac (1,004,929 SF)
Zoning code
IL
APN
050 024.00 000
UPID
US80-1043139
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
-
5Forms LLC Marketing & Advertising Printing Service
-
Parker Expediting Inc Trucking Company
-
Michigan Avenue Trailer Parking Parking Lot & Garage
-
Bacon Logistics Corporate Office
-
Ocoee Records Management Recycling Center Waste Management Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.02M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.44M
Blend (final)
Blend
$6.24M
Owner & transaction history
520 N Quince LLC · 1 yrs held
520 N Quince LLC
since 2025
Last sale
$6.4M
7 recorded transactions
Zoning & alternative use
IL · Cleveland, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Method
Estimation
Statistic approach
$5,715,000
ML approach
$6,020,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$9,560,000
Current use
INDUSTRIAL (GENERAL)
$8,550,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$6.24M
Range $5.62M – $6.86M · ±10% · vs last sale $6.40M (Feb 1 2022)
Last sale anchor
$6.40M
Feb 1 2022
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
$35 / 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
$24,477
Tax year 2023
Assessed value
$1,700,720
Assessed 2023
Previous assessed
$1,700,720
+0.0% YoY
Effective rate
1.44%
On assessed value
Assessed land
$307,280
Assessed improvement
$1,393,440
Land market value
$768,200
Improvement market value
$3,483,600
Total market value
$4,251,800
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
Off-Market
Year built
1981
Construction
FRAME
Heating
NONE
Cooling
NONE
Buildings
5
Stories
1
Rooms
5
Bathrooms
100
Total area
179,016 SF
Lot
23.07 ac (1,004,929 SF)
Zoning code
IL
APN
050 024.00 000
UPID
US80-1043139
Jurisdiction
BRADLEY
Zoning & alternative use
IL · Cleveland, TN
Zoning IL · permitted uses
IL · Cleveland, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cleveland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$9.6M
INDUSTRIAL (GENERAL)
Est. value
$8.6M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
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
1981
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
5
Rooms
5
Bathrooms
100
Lot
23.07 ac
Current owner
From public records · entity-resolved
520 N Quince LLC
Entity
Mailing address
1110 TORREY PNES RD STE D, LA JOLLA, CA 92037-4545
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2025
—
520 N Quince LLC
520 N Quince LLC
Deed
related
—
Feb 1, 2022
$6,400,000
2001 2017 Oceanside Blvd LLC
Warerouse Concepts Gp
Warranty Deed
—
Oct 5, 2020
—
Warehouse Concepts Gp
—
Deed
related
$3,100,000 · Firstbank
Apr 10, 2017
—
Warehouse Concepts LLC
—
Grant Deed
related
$6,861,017 · Southeast Bk
May 7, 1999
$72,900
Joel Moses
Renner,bruce
Grant Deed
—
Jul 16, 1998
$5,800
Robert Renner
—
Grant Deed
related
—
May 27, 1998
$62,900
Joseph Costa
—
Grant Deed
related
—
Jul 19, 1993
$1,425,000
Regional Industrial Ocoee
Unknown,
Grant Deed
—
Jul 14, 1993
$1,425,000
Regional Industrial Ocoee
Unknown
Grant Deed
—
Apr 13, 1993
$1,900,000
Small Business
Unknown,
Grant Deed
—
—
—
Warehouse Concepts LLC
—
Deed Of Trust
related
$2,700,000 · First Tennessee Bank National
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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