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Property profile & analytics
OFF-MARKET
Office Spaces
40 2nd NW St Cleveland, TN 37311-5009
Individually Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US80-1736169
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1900
Total area
4,092 SF
Lot
0.05 ac (2,208 SF)
Zoning code
CBD
APN
049M X 012.00 000
UPID
US80-1736169
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
-
Unison Environmental Services LLC Environmental Consultant
-
Samuel H. Horner III, OD Physician
-
Samuel Harvey Horner Iii Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Sam H Horner III · 8 yrs held
Sam H Horner III
since 2018
6 recorded transactions
Zoning & alternative use
CBD · Cleveland, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$857
Tax year 2023
Assessed value
$59,560
Assessed 2023
Previous assessed
$59,560
+0.0% YoY
Effective rate
1.44%
On assessed value
Assessed land
$6,440
Assessed improvement
$53,120
Land market value
$16,100
Improvement market value
$132,800
Total market value
$148,900
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1900
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Rooms
7
Bathrooms
1
Total area
4,092 SF
Lot
0.05 ac (2,208 SF)
Zoning code
CBD
APN
049M X 012.00 000
UPID
US80-1736169
Jurisdiction
BRADLEY
Zoning & alternative use
CBD · Cleveland, TN
Zoning CBD · permitted uses
CBD · 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.
Building & site characteristics
From public records
Year built
1900
Heating
YES
Cooling
Yes
Stories
1
Rooms
7
Bathrooms
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
Sam H Horner III
Individual
Mailing address
1453 HARLE AVE NW, CLEVELAND, TN 37311-4314
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Feb 1, 2018
—
Sam H Horner III
Horner,sam H III
Quit Claim Deed
related
$250,000 · Andrew Johnson Bk
May 25, 2016
—
Sam H Horner III
—
Deed
related
$15,000 · Bank Of Cleveland
Sep 24, 2008
—
Sam H Horner III
Horner,sam H JR
Quit Claim Deed
related
—
—
—
Sam H Horner III
—
Deed Of Trust
related
$38,734 · Bank Of Cleveland
—
—
Sam H Horner III
—
Deed Of Trust
related
$76,860 · Bank Of Cleveland
—
—
Sam H Horner III
—
Deed Of Trust
related
$15,000 · Bank Of Cleveland
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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