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Property profile & analytics
OFF-MARKET
Estimated value
$6,020,000
Manufacturing properties
3939 Michigan Ave NE Rd Cleveland, TN 37323-5903
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US80-1312017
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1983
Construction
FRAME
Total area
55,500 SF
Lot
10.5 ac (457,380 SF)
Zoning code
IL
APN
043 031.01 000
UPID
US80-1312017
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
-
The H&K Perforating Companies Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.70M
CAP Approach
CAP
$4.52M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.02M
Owner & transaction history
3939 Michigan LLC · 2 yrs held
3939 Michigan LLC
since 2023
Last sale
$6.9M
5 recorded transactions
Zoning & alternative use
IL · Cleveland, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.7M
+190.8%
Retail stores
$5.1M
+92.0%
Auto repair, garage
$4.2M
+57.4%
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 Cleveland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cleveland 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
$6,145,000
ML approach
$5,700,000
CAP Approach
CAP Return
Estimation
6%
$4,890,000
6.5%
$4,515,000
7%
$4,190,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$7,705,000
Change: +191% · Conversion: Difficult
RETAIL STORES
$5,090,000
Change: +92% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,170,000
Change: +57% · Conversion: Easy
Blend value · Realmo final
$6.02M
Range $5.42M – $6.62M · ±10% · vs last sale $6.86M (Sep 11 2023)
Last sale anchor
$6.86M
Sep 11 2023
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
$108 / 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
$9,904
Tax year 2023
Assessed value
$688,160
Assessed 2023
Previous assessed
$688,160
+0.0% YoY
Effective rate
1.44%
On assessed value
Assessed land
$139,880
Assessed improvement
$548,280
Land market value
$349,700
Improvement market value
$1,370,700
Total market value
$1,720,400
Applied tax rate
6.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1983
Construction
FRAME
Heating
YES
Cooling
YES
Stories
1
Units
1
Rooms
1
Bathrooms
5
Total area
55,500 SF
Lot
10.5 ac (457,380 SF)
Zoning code
IL
APN
043 031.01 000
UPID
US80-1312017
Jurisdiction
BRADLEY
Zoning & alternative use
IL · Cleveland, TN
Zoning IL · permitted uses
IL · Cleveland, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cleveland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$7.7M
RETAIL STORES
Est. value
$5.1M
AUTO REPAIR, GARAGE
Est. value
$4.2M
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
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
1983
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
1
Bathrooms
5
Lot
10.5 ac
Current owner
From public records · entity-resolved
3939 Michigan LLC
Entity
Mailing address
10275 W HIGGINS RD STE 810TH ROSEMONT
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 11, 2023
$6,863,624
3939 Michigan LLC
H&k 3939 Michigan LLC
Special Warranty Deed
$500,000 · Cibc Bank USA
Jan 30, 2018
—
H&k 3939 Michigan LLC
Bulls Acquisition Company LLC
Quit Claim Deed
related
—
Dec 23, 2014
—
Harrington & King South INC
—
Deed Of Trust
related
$5,806,565 · Inland Bk&tr
—
—
Harrington & King South INC
—
Loan Modification
related
$2,806,665 · Inland Bk&tr
—
—
Harrington And King South INC
—
Deed Of Trust
related
$850,000 · First American National 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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