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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Medical Office Space
3101 Andrew Johnson Hwy Morristown, TN 37814-3616
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US80-1555271
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2011
Construction
WOOD
Total area
6,548 SF
Lot
1.05 ac (45,738 SF)
Zoning code
R2
APN
032041H B 01001
UPID
US80-1555271
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
-
Southeastern Retina Associates, P.C. Physician
-
Southeastern Retina Associates Ophthalmologist
-
Southeastern Retina Associates: Anderson Nicholas G MD Ophthalmologist
-
Ailee Laham Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$460k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$783k
Blend (final)
Blend
$620k
Owner & transaction history
M T Lott Partnership · 12 yrs held
M T Lott Partnership
since 2014
1 recorded transaction
Zoning & alternative use
R2 · Morristown, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$685,000
+11.8%
Commercial (general)
$655,000
+6.9%
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 Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown 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
$460,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$610,000
Current use
AUTO REPAIR, GARAGE
$685,000
Change: +12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$655,000
Change: +7% · Conversion: Easy
RESTAURANT
$510,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$620k
Range $558k – $682k · ±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
$95 / 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
Property tax & assessments
Assessed value
$545,080
Assessed 2023
Previous assessed
$545,080
+0.0% YoY
Assessed land
$199,280
Assessed improvement
$345,800
Land market value
$498,200
Improvement market value
$864,500
Total market value
$1,362,700
Applied tax rate
32.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2011
Construction
WOOD
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Units
1
Rooms
14
Bathrooms
3
Total area
6,548 SF
Lot
1.05 ac (45,738 SF)
Zoning code
R2
APN
032041H B 01001
UPID
US80-1555271
Jurisdiction
HAMBLEN
Zoning & alternative use
R2 · Morristown, TN
Zoning R2 · permitted uses
R2 · Morristown, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morristown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$610,000
AUTO REPAIR, GARAGE
Est. value
$685,000
COMMERCIAL (GENERAL)
Est. value
$655,000
RESTAURANT
Est. value
$510,000
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RESTAURANT
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
2011
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
14
Bathrooms
3
Lot
1.05 ac
Current owner
From public records · entity-resolved
M T Lott Partnership
Entity
Mailing address
9050 EXECUTIVE PARK DR STE 202A, KNOXVILLE, TN 37923-4670
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2014
$620,000
M T Lott Partnership
Morristown Retina Gp
Warranty Deed
$615,350 · Jefferson Bank
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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