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Property profile & analytics
FOR LEASE
Grocery and convenience stores
2942 Kirby Whitten Pkwy Bartlett, TN 38134
Entity Owned
14-yr Hold
Free & Clear
Property ID
US80-3307775
For Lease
$7,735,000
2942 Kirby Whitten Pkwy, Bartlett, TN 38134
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1999
Total area
66,768 SF
Lot
11.4 ac (496,671 SF)
Zoning code
SC-1
APN
B01-57 - - -00879-C
UPID
US80-3307775
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
-
Kroger Grocery & Convenience Store Food Market
-
Store 489 Grocery & Convenience Store Food Market
-
EcoATM Recycling Center Waste Management Facility
-
ATM (First Horizon Bank) Atm
-
Redbox Cinema (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$10.25M
Comparable Approach
Comparable
$7.24M
Blend (final)
Blend
$7.74M
Owner & transaction history
LP I Kroger · 14 yrs held
LP I Kroger
since 2011
2 recorded transactions
Zoning & alternative use
SC-1 · Bartlett, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$9.6M
+72.4%
Auto repair, garage
$6.5M
+16.8%
Office building
$6.0M
+7.7%
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 Bartlett submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bartlett 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%
$11,100,000
6.5%
$10,245,000
7%
$9,515,000
Alternative Use
Use
Estimation
RETAIL STORES
$5,540,000
Current use
MEDICAL BUILDING
$9,550,000
Change: +72% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,470,000
Change: +17% · Conversion: Difficult
OFFICE BUILDING
$5,965,000
Change: +8% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$5,940,000
Change: +7% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,900,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$7.74M
Range $6.96M – $8.51M · ±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
$116 / 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
$106,258
Tax year 2022
Assessed value
$3,134,440
Assessed 2023
Previous assessed
$3,572,040
-12.3% YoY
Effective rate
3.39%
On assessed value
Assessed land
$1,267,280
Assessed improvement
$1,867,160
Land market value
$3,168,200
Improvement market value
$4,667,900
Total market value
$7,836,100
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Lease
Year built
1999
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
66,768 SF
Lot
11.4 ac (496,671 SF)
Zoning code
SC-1
APN
B01-57 - - -00879-C
UPID
US80-3307775
Jurisdiction
SHELBY
Zoning & alternative use
SC-1 · Bartlett, TN
Zoning SC-1 · permitted uses
SC-1 · Bartlett, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bartlett. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$5.5M
MEDICAL BUILDING
Est. value
$9.6M
AUTO REPAIR, GARAGE
Est. value
$6.5M
OFFICE BUILDING
Est. value
$6.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.9M
RETAIL STORES Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
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
1999
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
11.4 ac
Current owner
From public records · entity-resolved
LP I Kroger
Entity
Free & Clear · 14 yrs held
Mailing address
1014 VINE ST, CINCINNATI, OH 45202-1141
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2011
$8,715,390
LP I Kroger
Sm Properties Memphis LLC
Grant Deed
—
Sep 16, 2011
—
LP I Kroger
Sm Properties Memphis LLC
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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