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Property profile & analytics
OFF-MARKET
Estimated value
$1,090,000
Warehouses
381 Germantown Pkwy Cordova, TN 38018-6207
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US80-1384323
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1998
Total area
15,600 SF
Lot
5.51 ac (239,798 SF)
Zoning code
IH
APN
091-080- - -00011-C
UPID
US80-1384323
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
-
Extra Space Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$1.09M
Owner & transaction history
Extra Space Properties 107 LLC · 10 yrs held
Extra Space Properties 107 LLC
since 2015
3 recorded transactions
Zoning & alternative use
IH · Cordova, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.7M
+162.3%
Auto repair, garage
$1.6M
+139.1%
Retail stores
$1.4M
+114.8%
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 Cordova submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cordova 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,710,000
Change: +162% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,560,000
Change: +139% · Conversion: Easy
RETAIL STORES
$1,400,000
Change: +115% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,395,000
Change: +113% · Conversion: Difficult
Blend value · Realmo final
$1.09M
Range $981k – $1.20M · ±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
$70 / 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
$130,312
Tax year 2022
Assessed value
$2,139,200
Assessed 2023
Previous assessed
$2,139,200
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$732,480
Assessed improvement
$1,406,720
Land market value
$1,831,200
Improvement market value
$3,516,800
Total market value
$5,348,000
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
1998
Heating
NONE
Cooling
NONE
Buildings
6
Stories
1
Units
78
Total area
15,600 SF
Lot
5.51 ac (239,798 SF)
Zoning code
IH
APN
091-080- - -00011-C
UPID
US80-1384323
Jurisdiction
SHELBY
Zoning & alternative use
IH · Cordova, TN
Zoning IH · permitted uses
IH · Cordova, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cordova. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
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
1998
Heating
NONE
Cooling
Yes
Stories
1
Buildings
6
Units
78
Lot
5.51 ac
Current owner
From public records · entity-resolved
Extra Space Properties 107 LLC
Entity
Mailing address
PO BOX 71870, SALT LAKE CITY, UT 84171-0870
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 24, 2015
—
Extra Space Properties 107 LLC
Extra Space Props Fifty One Ll
Quit Claim Deed
related
$125,000,000 · Jp Morgan Chase Bk
Jul 26, 2005
—
Extra Space Props Fifty One Ll
Susa-tn LLC
Grant Deed
$6,900,000 · Wachovia Bank NA
—
—
Extra Space Properties 107 LLC
—
Loan Modification
related
$125,000,000 · Jp Morgan Chase Bk
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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