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Property profile & analytics
OFF-MARKET
Estimated value
$795,000
Warehouses
2822 Fite Rd Millington, TN 38053
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-1726135
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1973
Total area
40,336 SF
Lot
10.31 ac (449,060 SF)
Zoning code
IH
APN
D01-36 - - -00103-C
UPID
US80-1726135
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$560k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$842k
Blend (final)
Blend
$795k
Owner & transaction history
Covoro Mining Solutions LLC · 4 yrs held
Covoro Mining Solutions LLC
since 2021
4 recorded transactions
Zoning & alternative use
IH · Millington, 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 Millington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millington 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
$560,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$795k
Range $716k – $875k · ±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
$20 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$8,965
Tax year 2022
Assessed value
$264,440
Assessed 2023
Previous assessed
$264,440
+0.0% YoY
Effective rate
3.39%
On assessed value
Assessed land
$44,160
Assessed improvement
$220,280
Land market value
$110,400
Improvement market value
$550,700
Total market value
$661,100
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
1973
Heating
NONE
Cooling
NONE
Stories
1
Total area
40,336 SF
Lot
10.31 ac (449,060 SF)
Zoning code
IH
APN
D01-36 - - -00103-C
UPID
US80-1726135
Jurisdiction
SHELBY
Zoning & alternative use
IH · Millington, TN
Zoning IH · permitted uses
IH · Millington, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Millington. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1973
Heating
NONE
Cooling
Yes
Stories
1
Lot
10.31 ac
Current owner
From public records · entity-resolved
Covoro Mining Solutions LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2571 FITE RD, MEMPHIS, TN 38127-1940
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 14, 2025
—
Covoro Mining Solution LLC
—
Deed
related
$12,753,750 · Nevada Gold Mines LLC
Mar 4, 2022
—
Covoro Mining Solutions LLC
—
Deed
related
$7,144,200 · Wilmington Trust Loand Limited
Dec 2, 2021
—
Covoro Mining Solutions LLC
The Chemours Company Fc LLC
Quit Claim Deed
related
—
Jan 30, 2015
—
Chemours Co Fc LLC
E I Du Pont De Nemours & Co
Quit Claim Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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