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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Medical Office Space
428 Bell St Murfreesboro, TN 37130-2408
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US80-1312337
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2002
Construction
FRAME
Total area
3,376 SF
Lot
0.4 ac (17,511 SF)
Zoning code
CM
APN
091L-N-004.00-000
UPID
US80-1312337
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
-
CJ's Back Door Catering Catering Service Take-out & Catering
-
Doors of Hope Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$635k
Comparable Approach
Comparable
$629k
Blend (final)
Blend
$540k
Owner & transaction history
Doors Of Hope · 4 yrs held
Doors Of Hope
since 2021
Last sale
$530,000
7 recorded transactions
Zoning & alternative use
CM · Murfreesboro, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
CM, MEDICAL DISTRICT COMMERCIAL. The purpose of this district is to provide a zoning category devoted primarily to health-related uses. This district is designed to permit the development, expansion and modernization of hospitals, clinics, medical laboratories, and medical offices. The uses permitted in this district, the special uses that may be allowed in…
Zone name
Medical District Commercial
General category
CIVIC_INSTITUTIONAL
Zone area
94.81 ac
Top alternative use upside
Commercial (general)
$890,000
+41.6%
Auto repair, garage
$815,000
+29.4%
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 Murfreesboro submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Murfreesboro 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
$520,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$685,000
6.5%
$635,000
7%
$590,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$630,000
Current use
COMMERCIAL (GENERAL)
$890,000
Change: +42% · Conversion: Easy
AUTO REPAIR, GARAGE
$815,000
Change: +29% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$570,000
Change: -9% · Conversion: Difficult
OFFICE BUILDING
$510,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$540k
Range $486k – $594k · ±10% · vs last sale $530k (Dec 15 2021)
Last sale anchor
$530k
Dec 15 2021
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
$160 / 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
Land market value
$166,300
Improvement market value
$445,100
Total market value
$611,400
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2002
Construction
FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Units
1
Bathrooms
3
Total area
3,376 SF
Lot
0.4 ac (17,511 SF)
Zoning code
CM
APN
091L-N-004.00-000
UPID
US80-1312337
Jurisdiction
RUTHERFORD
Zoning & alternative use
CM · Murfreesboro, TNZoning CM · permitted uses
CM · Murfreesboro, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
CM, MEDICAL DISTRICT COMMERCIAL. The purpose of this district is to provide a zoning category devoted primarily to health-related uses. This district is designed to permit the development, expansion and modernization of hospitals, clinics, medical laboratories, and medical offices. The uses permitted in this district, the special uses that may be allowed in this district and the uses for which site plan review and approval are required are listed in Chart 1 unless otherwise regulated in this article. The minimum lot and yard requirements, maximum height and the land use intensity ratios which govern any use in this district are listed on Chart 2 unless otherwise regulated in this article.
Zone name
Medical District Commercial
General category
CIVIC_INSTITUTIONAL
Zone area
94.81 ac
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$630,000
COMMERCIAL (GENERAL)
Est. value
$890,000
AUTO REPAIR, GARAGE
Est. value
$815,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$570,000
OFFICE BUILDING
Est. value
$510,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
2002
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Units
1
Bathrooms
3
Lot
0.4 ac
Current owner
From public records · entity-resolved
Doors Of Hope
Individual
Mailing address
428 E BELL ST, MURFREESBORO, TN 37130-2408
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2021
$530,000
Doors Of Hope
Stones River Manor INC
Warranty Deed
$532,963 · Firstbank
Feb 16, 2018
—
Doors Of Hope
—
Deed
related
$124,500 · Firstbank
Dec 28, 2017
—
Doors Of Hope
—
Trustees Deed
related
$249,500 · Firstbank
Jul 8, 2014
$325,000
Doors Of Hope
Tenpenny,kenneth L & Karen E
Warranty Deed
—
Jul 12, 2007
—
Kenneth L Tenpenny
Tenpenny Real Estate
Quit Claim Deed
related
—
Mar 13, 2002
—
Tenpenny Real Estate Ptn
Tenpenny,kenneth
Quit Claim Deed
related
—
Dec 31, 2001
—
Seton Corporation
Middle,tenn M
Grant Deed
related
—
Nov 30, 2000
$147,500
Kenneth L Tenpenny
Craig,tom D & Al
Grant Deed
—
—
—
Doors Of Hope
—
Loan Modification
related
$124,500 · Firstbank
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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