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Property profile & analytics
OFF-MARKET
Estimated value
$2,875,000
Drug stores
400 Sam Ridley Pkwy Smyrna, TN 37167-5620
Individually Owned
23-yr Hold
Free & Clear
Property ID
US80-1120238
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2001
Construction
FRAME
Total area
14,516 SF
Lot
2.22 ac (96,703 SF)
Zoning code
C-2
APN
028-047.00-000
UPID
US80-1120238
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
-
FedEx OnSite Postal Service Courier Service
-
Levi Sanderson, Pharm Pharmacy
-
Walgreens Pharmacy Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.34M
Blend (final)
Blend
$2.88M
Owner & transaction history
Teachers Retirement System · 23 yrs held
Teachers Retirement System
since 2002
3 recorded transactions
Zoning & alternative use
C-2 · Smyrna, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of C-2 zone is to provide moderate and large sized offices, general retail businesses, transient sleeping accommodations, and eating and drinking establishments
Zone name
General Commercial
General category
COMMERCIAL
Zone area
1,722.13 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$3.9M
+46.2%
Office building
$3.2M
+20.0%
Medical building
$3.0M
+10.7%
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 Smyrna submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Smyrna 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
RETAIL STORES
$2,680,000
Current use
AUTO REPAIR, GARAGE
$3,915,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$3,215,000
Change: +20% · Conversion: Easy
MEDICAL BUILDING
$2,965,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,485,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$2.88M
Range $2.59M – $3.16M · ±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
$198 / 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
$32,292
Tax year 2023
Assessed value
$1,344,400
Assessed 2024
Previous assessed
$1,344,400
+0.0% YoY
Effective rate
2.40%
On assessed value
Assessed land
$603,240
Assessed improvement
$741,160
Land market value
$1,508,100
Improvement market value
$1,852,900
Total market value
$3,361,000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2001
Construction
FRAME
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Bathrooms
3
Total area
14,516 SF
Lot
2.22 ac (96,703 SF)
Zoning code
C-2
APN
028-047.00-000
UPID
US80-1120238
Jurisdiction
RUTHERFORD
Zoning & alternative use
C-2 · Smyrna, TNZoning C-2 · permitted uses
C-2 · Smyrna, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of C-2 zone is to provide moderate and large sized offices, general retail businesses, transient sleeping accommodations, and eating and drinking establishments
Zone name
General Commercial
General category
COMMERCIAL
Zone area
1,722.13 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$3.9M
OFFICE BUILDING
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$3.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.5M
RETAIL STORES Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
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
2001
Construction
FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Bathrooms
3
Lot
2.22 ac
Current owner
From public records · entity-resolved
Teachers Retirement System
Individual
Free & Clear · 23 yrs held
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2002
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 26, 2002
$3,770,000
Teachers Retirement System
Red River Develo
Grant Deed
—
Apr 12, 2001
$1,500,000
Red River Development
Rutherford,enter
Trustees Deed
—
—
—
Crown Park Dev LLC
—
Deed Of Trust
related
$1,900,000 · General Electric Capital Corp
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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