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Property profile & analytics
FOR LEASE
Strip malls
4701 Navy Rd, Millington, TN 38053
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US80-3206316
For Lease
1 / 2
$1,160,000
4701 Navy Rd, Millington, TN 38053
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1955
Total area
14,984 SF
Lot
1.76 ac (76,666 SF)
Zoning code
B-2
APN
M01-15 - - -00695
UPID
US80-3206316
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
-
ATC Fitness Gym & Fitness Center
-
absolutely fabulous hair salon Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.25M
Blend (final)
Blend
$1.16M
Owner & transaction history
Mcpatterson III LLC · 8 yrs held
Mcpatterson III LLC
since 2018
7 recorded transactions
Zoning & alternative use
B-2 · Millington, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.8M
+34.4%
Auto repair, garage
$1.5M
+12.4%
Retail stores
$1.3M
+0.9%
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 Millington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millington 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
NEIGHBORHOOD: SHOPPING CENTER
$1,335,000
Current use
OFFICE BUILDING
$1,790,000
Change: +34% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,500,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$1,345,000
Change: +1% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,340,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$1.16M
Range $1.04M – $1.28M · ±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
$77 / 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
$17,441
Tax year 2022
Assessed value
$364,120
Assessed 2023
Previous assessed
$364,120
+0.0% YoY
Effective rate
4.79%
On assessed value
Assessed land
$65,760
Assessed improvement
$298,360
Land market value
$164,400
Improvement market value
$745,900
Total market value
$910,300
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1955
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
14,984 SF
Lot
1.76 ac (76,666 SF)
Zoning code
B-2
APN
M01-15 - - -00695
UPID
US80-3206316
Jurisdiction
SHELBY
Zoning & alternative use
B-2 · Millington, TN
Zoning B-2 · permitted uses
B-2 · Millington, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Millington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.5M
RETAIL STORES
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1955
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.76 ac
Current owner
From public records · entity-resolved
Mcpatterson III LLC
Entity
Mailing address
540 GAME CRK CV, EADS, TN 38028-9771
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2018
$850,000
Mcpatterson III LLC
Forbess Properties
Grant Deed
$722,500 · Simmons Bk
Feb 3, 2011
$530,000
Properties Forbess
Bank Of Tipton
Grant Deed
$545,000 · Bank Of Tipton
Aug 22, 2008
—
Bank Of Tipton
Wilkins,john H JR & Monica A
Deed In Lieu Of Foreclosure
related
—
Mar 20, 2008
—
John H Wilkins JR.
—
Trustees Deed
related
$26,528 · Bank Of Tipton
Feb 21, 2007
$353,000
John H Wilkins JR.
Ryburn,frank C
Warranty Deed
$653,000 · Bank Of Tipton
—
—
Properties Forbess
—
Deed Of Trust
related
$600,000 · First State Bank
—
—
Frank C Ryburn
—
Deed Of Trust
related
$251,804 · Patriot Bank NA
—
—
Frank C Ryburn
—
Deed Of Trust
related
$285,000 · Peoples Bank & Trust
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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