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Property profile & analytics
OFF-MARKET
Estimated value
$1,625,000
Strip malls
490 Saint Andrews Dr Ste 101 Murfreesboro, TN 37128-3542
Individually Owned
18-yr Hold
Free & Clear
Property ID
US80-0987430
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Construction
FRAME
Total area
13,500 SF
Lot
1.3 ac (56,628 SF)
Zoning code
CF
APN
101C-F-002.00-000
UPID
US80-0987430
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.98M
Blend (final)
Blend
$1.63M
Owner & transaction history
Elgin Oliver JR. · 18 yrs held
Elgin Oliver JR.
since 2007
3 recorded transactions
Zoning & alternative use
CF · Murfreesboro, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
CF, COMMERCIAL FRINGE DISTRICT. (A) Purpose. This district is intended to permit the development and continued maintenance of general commercial uses along highways and major arterial streets which tend not to be a nuisance to immediately surrounding residential development. The uses permitted in this district, the special uses that may be allowed in this di…
Zone name
Commercial Fringe District
General category
COMMERCIAL
Zone area
510.72 ac
Top alternative use upside
Medical building
$2.5M
+10.0%
Retail stores
$2.5M
+7.2%
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
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
$2,285,000
Current use
MEDICAL BUILDING
$2,515,000
Change: +10% · Conversion: Difficult
RETAIL STORES
$2,450,000
Change: +7% · Conversion: Easy
OFFICE BUILDING
$2,180,000
Change: -5% · Conversion: Moderate
Blend value · Realmo final
$1.63M
Range $1.46M – $1.79M · ±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
$120 / 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
$21,883
Tax year 2023
Assessed value
$773,560
Assessed 2024
Previous assessed
$773,560
+0.0% YoY
Effective rate
2.83%
On assessed value
Assessed land
$287,440
Assessed improvement
$486,120
Land market value
$718,600
Improvement market value
$1,215,300
Total market value
$1,933,900
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
Off-Market
Year built
2005
Construction
FRAME
Heating
ZONE
Cooling
YES
Stories
1
Units
9
Total area
13,500 SF
Lot
1.3 ac (56,628 SF)
Zoning code
CF
APN
101C-F-002.00-000
UPID
US80-0987430
Jurisdiction
RUTHERFORD
Zoning & alternative use
CF · Murfreesboro, TNZoning CF · permitted uses
CF · Murfreesboro, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
CF, COMMERCIAL FRINGE DISTRICT. (A) Purpose. This district is intended to permit the development and continued maintenance of general commercial uses along highways and major arterial streets which tend not to be a nuisance to immediately surrounding residential development. 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, maximum gross dwelling unit density and the land use intensity ratios which govern any use in this district are listed on Chart 2 unless otherwise regulated in this
Zone name
Commercial Fringe District
General category
COMMERCIAL
Zone area
510.72 ac
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.5M
RETAIL STORES
Est. value
$2.5M
OFFICE BUILDING
Est. value
$2.2M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
RETAIL STORES
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
2005
Construction
FRAME
Heating
ZONE
Cooling
Yes
Stories
1
Units
9
Lot
1.3 ac
Current owner
From public records · entity-resolved
Elgin Oliver JR.
Individual
Free & Clear · 18 yrs held
Mailing address
PO BOX 1442, MURFREESBORO, TN 37133-1442
Ownership since
2007
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
Dec 13, 2007
—
Elgin Oliver JR.
Oliver Elgin SR R Trust
Quit Claim Deed
related
—
Nov 7, 2005
$1,312,271
Oliver Elgin SR Trust
Brinkley Cove Dev
Warranty Deed
—
Nov 29, 2004
$263,200
Brinkley Cove Dev Co
Wright Brothers Const Co LLC
Warranty Deed
$950,000 · Firstbank Br 80
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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