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Property profile & analytics
OFF-MARKET
Estimated value
$3,475,000
Office buildings
311 Butler Dr Murfreesboro, TN 37127-5532
Individually Owned
24-yr Hold
~
Est. High Equity
Property ID
US80-0903026
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2000
Construction
FRAME
Total area
17,588 SF
Lot
3.46 ac (150,718 SF)
Zoning code
H-I
APN
113-020.14-000
UPID
US80-0903026
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
-
REALTOR® Event Center Hotel & Motel Resort
-
Middle Tennessee Association of REALTORS® Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.82M
Comparable Approach
Comparable
$3.69M
Blend (final)
Blend
$3.48M
Owner & transaction history
Middle Tennessee Assn Of Realtors
Middle Tennessee Assn Of Realtors
2 recorded transactions
Zoning & alternative use
H-I · Murfreesboro, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.3M
+87.4%
Auto repair, garage
$4.2M
+49.2%
Medical building
$3.3M
+15.2%
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 Murfreesboro submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Murfreesboro 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%
$4,135,000
6.5%
$3,820,000
7%
$3,545,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,840,000
Current use
COMMERCIAL (GENERAL)
$5,325,000
Change: +87% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,240,000
Change: +49% · Conversion: Difficult
MEDICAL BUILDING
$3,275,000
Change: +15% · Conversion: Easy
RETAIL STORES
$3,190,000
Change: +12% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,975,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$3.48M
Range $3.13M – $3.82M · ±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
$198 / 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
$19,894
Tax year 2023
Assessed value
$1,338,080
Assessed 2024
Previous assessed
$703,280
+90.3% YoY
Effective rate
1.49%
On assessed value
Assessed land
$272,080
Assessed improvement
$1,066,000
Land market value
$680,200
Improvement market value
$2,665,000
Total market value
$3,345,200
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2000
Construction
FRAME
Heating
ZONE
Cooling
YES
Stories
1
Units
1
Bathrooms
4
Total area
17,588 SF
Lot
3.46 ac (150,718 SF)
Zoning code
H-I
APN
113-020.14-000
UPID
US80-0903026
Jurisdiction
RUTHERFORD
Zoning & alternative use
H-I · Murfreesboro, TN
Zoning H-I · permitted uses
H-I · Murfreesboro, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Murfreesboro. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$5.3M
AUTO REPAIR, GARAGE
Est. value
$4.2M
MEDICAL BUILDING
Est. value
$3.3M
RETAIL STORES
Est. value
$3.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.0M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
2000
Construction
FRAME
Heating
ZONE
Cooling
Yes
Stories
1
Units
1
Bathrooms
4
Lot
3.46 ac
Current owner
From public records · entity-resolved
Middle Tennessee Assn Of Realtors
Individual
Mailing address
311 BUTLER DR, MURFREESBORO, TN 37127-5532
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
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
—
—
Middle Tennessee Assn Of Realtors
—
Deed Of Trust
related
$278,524 · Wilson Bank & Trust
—
—
Middle Tennessee Assn Of Realtors
—
Deed Of Trust
related
$350,000 · Cavalry Banking
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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