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Property profile & analytics
FOR LEASE
Strip malls
9861 Lk District Dr N Lakeland, TN 38002
Entity Owned
Absentee Owner
Free & Clear
Property ID
US80-1170649
For Lease
1 / 2
$1,410,000
9861 Lk District Dr N, Lakeland, TN 38002
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2022
Construction
FRAME
Total area
10,800 SF
Lot
114.01 ac (4,966,493 SF)
Zoning code
C-2
APN
L01-59 - - -00601
UPID
US80-1170649
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$905k
CAP Approach
CAP
$1.96M
Comparable Approach
Comparable
$1.87M
Blend (final)
Blend
$1.41M
Owner & transaction history
LAKE DISTRICT LLC
LAKE DISTRICT LLC
Zoning & alternative use
C-2 · Lakeland, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.6M
+66.3%
Office building
$1.3M
+34.4%
Auto repair, garage
$1.1M
+12.4%
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 Lakeland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakeland 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
$905,000
CAP Approach
CAP Return
Estimation
6%
$2,120,000
6.5%
$1,960,000
7%
$1,820,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$960,000
Current use
MEDICAL BUILDING
$1,600,000
Change: +66% · Conversion: Difficult
OFFICE BUILDING
$1,290,000
Change: +34% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,080,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$970,000
Change: +1% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$965,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$1.41M
Range $1.27M – $1.55M · ±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
$131 / 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
$339,261
Tax year 2023
Assessed value
$7,407,440
Assessed 2024
Previous assessed
$7,407,440
+0.0% YoY
Effective rate
4.58%
On assessed value
Assessed land
$3,154,160
Assessed improvement
$4,253,280
Land market value
$7,885,400
Improvement market value
$10,633,200
Total market value
$18,518,600
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2022
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
10,800 SF
Lot
114.01 ac (4,966,493 SF)
Zoning code
C-2
APN
L01-59 - - -00601
UPID
US80-1170649
Jurisdiction
SHELBY
Zoning & alternative use
C-2 · Lakeland, TN
Zoning C-2 · permitted uses
C-2 · Lakeland, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lakeland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$960,000
MEDICAL BUILDING
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$970,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$965,000
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
2022
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Lot
114.01 ac
Current owner
From public records · entity-resolved
LAKE DISTRICT LLC
Entity
Free & Clear · 0 yrs held
Mailing address
5959 TOPANGA CYN BLVD STE #285, WOODLAND HILLS, CA 91367-7514
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
No recorded transactions
No recorded transactions found for this property.
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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