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Property profile & analytics
OFF-MARKET
Estimated value
$2,800,000
Warehouses
500 Myatt Dr Madison, TN 37115-2480
Individually Owned
15-yr Hold
Free & Clear
Property ID
US80-0472775
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1998
Total area
14,518 SF
Lot
10 ac (435,600 SF)
Zoning code
IR
APN
043-00-0-042-00
UPID
US80-0472775
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
-
Stephens Pipe & Steel, LLC (Nashville TN Office) Factory Metal Fabrication Plant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.23M
Comparable Approach
Comparable
$2.78M
Blend (final)
Blend
$2.80M
Owner & transaction history
Terry L Stephens · 15 yrs held
Terry L Stephens
since 2010
1 recorded transaction
Zoning & alternative use
IR · Madison, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.1M
+57.0%
Apartment house (5+ units)
$3.3M
+25.2%
Office building
$3.2M
+22.5%
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 Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison 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%
$2,415,000
6.5%
$2,230,000
7%
$2,070,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,610,000
Current use
MEDICAL BUILDING
$4,095,000
Change: +57% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,265,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$3,195,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$2.80M
Range $2.52M – $3.08M · ±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
$193 / 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
$48,068
Tax year 2023
Assessed value
$1,477,200
Assessed 2023
Previous assessed
$1,477,200
+0.0% YoY
Effective rate
3.25%
On assessed value
Assessed land
$696,960
Assessed improvement
$780,240
Land market value
$1,742,400
Improvement market value
$1,950,600
Total market value
$3,693,000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1998
Heating
SPACE
Cooling
CENTRAL
Stories
1
Total area
14,518 SF
Lot
10 ac (435,600 SF)
Zoning code
IR
APN
043-00-0-042-00
UPID
US80-0472775
Jurisdiction
DAVIDSON
Zoning & alternative use
IR · Madison, TN
Zoning IR · permitted uses
IR · Madison, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$4.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.3M
OFFICE BUILDING
Est. value
$3.2M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1998
Heating
SPACE
Cooling
Yes
Stories
1
Lot
10 ac
Current owner
From public records · entity-resolved
Terry L Stephens
Individual
Free & Clear · 15 yrs held
Mailing address
PO BOX 618, RUSSELL SPRINGS, KY 42642-0618
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 13, 2010
$1,450,000
Terry L Stephens
Johnson Houston Partners
Warranty Deed
—
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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