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Property profile & analytics
OFF-MARKET
Estimated value
$3,720,000
Warehouses
3215 Appling Rd Bartlett, TN 38133-3999
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US80-1387916
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1991
Total area
32,169 SF
Lot
6.98 ac (304,092 SF)
Zoning code
I-P
APN
B01-58 - - -00512
UPID
US80-1387916
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
-
SERVPRO of Bartlett/Cordova Hardware & Home Improvement Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.59M
CAP Approach
CAP
$4.59M
Comparable Approach
Comparable
$2.42M
Blend (final)
Blend
$3.72M
Owner & transaction history
Nicholson And Millan · 4 yrs held
Nicholson And Millan
since 2021
Last sale
$3.7M
6 recorded transactions
Zoning & alternative use
I-P · Bartlett, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.6M
+145.7%
Office building
$3.8M
+104.8%
Auto repair, garage
$3.1M
+66.5%
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
$3,025,000
ML approach
$3,585,000
CAP Approach
CAP Return
Estimation
6%
$4,970,000
6.5%
$4,590,000
7%
$4,260,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$4,600,000
Change: +146% · Conversion: Difficult
OFFICE BUILDING
$3,835,000
Change: +105% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,120,000
Change: +66% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,860,000
Change: +53% · Conversion: Difficult
RETAIL STORES
$2,670,000
Change: +42% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,360,000
Change: +26% · Conversion: Moderate
Blend value · Realmo final
$3.72M
Range $3.35M – $4.09M · ±10% · vs last sale $3.70M (Oct 14 2021)
Last sale anchor
$3.70M
Oct 14 2021
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
$51,791
Tax year 2022
Assessed value
$1,527,760
Assessed 2023
Previous assessed
$1,527,760
+0.0% YoY
Effective rate
3.39%
On assessed value
Assessed land
$377,640
Assessed improvement
$1,150,120
Land market value
$944,100
Improvement market value
$2,875,300
Total market value
$3,819,400
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1991
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
32,169 SF
Lot
6.98 ac (304,092 SF)
Zoning code
I-P
APN
B01-58 - - -00512
UPID
US80-1387916
Jurisdiction
SHELBY
Zoning & alternative use
I-P · Bartlett, TN
Zoning I-P · permitted uses
I-P · 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
MEDICAL BUILDING
Est. value
$4.6M
OFFICE BUILDING
Est. value
$3.8M
AUTO REPAIR, GARAGE
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
RETAIL STORES
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1991
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
6.98 ac
Current owner
From public records · entity-resolved
Nicholson And Millan
Individual
Mailing address
126 MAIN ST STE A, CLARKSVILLE, TN 37040-3244
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 14, 2021
$3,700,000
Nicholson And Millan
Evelyn Heffington
Special Warranty Deed
$3,570,000 · Planters Bank
Aug 1, 2019
—
Hypertech Trust
—
Deed
related
$1,520,000 · Paragon Bk
Aug 15, 2014
—
Hypertech Trust
Heffington,mark F
Quit Claim Deed
related
—
Jul 14, 2014
—
Heffington,mark F
Heffington Investments Gp
Quit Claim Deed
related
$1,800,000 · First Tn Bk
—
—
Hypertech Trust
—
Deed Of Trust
related
$1,520,000 · Paragon Bk
—
—
Hypertech Trust
—
Deed Of Trust
related
$500,000 · Private Individual
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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