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Property profile & analytics
OFF-MARKET
Estimated value
$8,035,000
Warehouses
4991 Enka Hwy Morristown, TN 37813-5104
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US80-3005834
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
241,596 SF
Lot
45.99 ac (2,003,324 SF)
Zoning code
I1
APN
032058 07103
UPID
US80-3005834
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
-
B&B Warehousing & Logistics Warehouse & Storage
-
R&S Logistics - MT3 Warehouse & Distribution Center Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.85M
Blend (final)
Blend
$8.04M
Owner & transaction history
Enka Warehouse LLC · 4 yrs held
Enka Warehouse LLC
since 2021
Last sale
$7.5M
2 recorded transactions
Zoning & alternative use
I1 · Morristown, 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 Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown 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
$8,700,000
ML approach
$8,435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$7,160,000
Current use
Blend value · Realmo final
$8.04M
Range $7.23M – $8.84M · ±10% · vs last sale $7.50M (Nov 23 2021)
Last sale anchor
$7.50M
Nov 23 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
$33 / 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
Property tax & assessments
Assessed value
$1,234,200
Assessed 2023
Previous assessed
$1,234,200
+0.0% YoY
Assessed land
$137,440
Assessed improvement
$1,096,760
Land market value
$343,600
Improvement market value
$2,741,900
Total market value
$3,085,500
Applied tax rate
32.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
10
Stories
1
Units
1
Rooms
1
Bathrooms
44
Total area
241,596 SF
Lot
45.99 ac (2,003,324 SF)
Zoning code
I1
APN
032058 07103
UPID
US80-3005834
Jurisdiction
HAMBLEN
Zoning & alternative use
I1 · Morristown, TN
Zoning I1 · permitted uses
I1 · Morristown, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morristown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$7.2M
WAREHOUSE, STORAGE Current
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
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
10
Units
1
Rooms
1
Bathrooms
44
Lot
45.99 ac
Current owner
From public records · entity-resolved
Enka Warehouse LLC
Entity
Mailing address
1500 DUNCAN RD, KNOXVILLE, TN 37919-8631
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 9, 2024
—
Enka Warehouse LLC
—
Deed
related
$2,184,000 · Home Federal Bank Of Tennessee Fsb
Nov 23, 2021
$7,500,000
Enka Warehouse LLC
Paint Oak LLC
Warranty Deed
$7,000,000 · Home Federal Bank Of Tennessee Fsb
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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