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Property profile & analytics
OFF-MARKET
Estimated value
$5,695,000
Manufacturing properties
287 Free Hl Rd Hendersonville, TN 37075-2136
Entity Owned
8-yr Hold
Free & Clear
Property ID
US80-1448552
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1993
Construction
FRAME
Total area
82,800 SF
Lot
20 ac (871,200 SF)
Zoning code
IR
APN
083160 03304
UPID
US80-1448552
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
-
The Sienna Hardware & Home Improvement Interior Design
-
MGM Industries Industrial Manufacturer Production Facility
-
Safari Helicopter Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.64M
Blend (final)
Blend
$5.70M
Owner & transaction history
Marj Properties Gp · 8 yrs held
Marj Properties Gp
since 2017
5 recorded transactions
Zoning & alternative use
IR · Hendersonville, 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 Hendersonville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hendersonville 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
INDUSTRIAL (GENERAL)
$6,480,000
Current use
Blend value · Realmo final
$5.70M
Range $5.13M – $6.26M · ±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
$69 / 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
$98,728
Tax year 2023
Assessed value
$2,842,840
Assessed 2023
Previous assessed
$2,842,840
+0.0% YoY
Effective rate
3.47%
On assessed value
Assessed land
$810,920
Assessed improvement
$2,031,920
Land market value
$2,027,300
Improvement market value
$5,079,800
Total market value
$7,107,100
Applied tax rate
83.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1993
Construction
FRAME
Heating
YES
Buildings
4
Stories
1
Bathrooms
14
Total area
82,800 SF
Lot
20 ac (871,200 SF)
Zoning code
IR
APN
083160 03304
UPID
US80-1448552
Jurisdiction
SUMNER
Zoning & alternative use
IR · Hendersonville, TN
Zoning IR · permitted uses
IR · Hendersonville, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hendersonville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$6.5M
INDUSTRIAL (GENERAL) Current
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
FRAME
Heating
YES
Stories
1
Buildings
4
Bathrooms
14
Lot
20 ac
Current owner
From public records · entity-resolved
Marj Properties Gp
Entity
Free & Clear · 8 yrs held
Mailing address
1082 EDGEWATER CIR, GALLATIN, TN 37066-5513
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2017
—
Marj Properties Gp
Marj Properties LP
Quit Claim Deed
related
—
May 31, 2007
—
Marj Properties
—
Trustees Deed
related
$551,959 · Bank Of America
May 4, 2007
—
Marj Properties
Gaskins Group LLC
Quit Claim Deed
related
—
Feb 7, 2006
—
Gaskins Group LLC
Metropolitan Govt Of Nashville
Quit Claim Deed
related
—
Feb 23, 1993
$100,000
The Gaskins Group
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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