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Property profile & analytics
OFF-MARKET
Estimated value
$645,000
Retail space
511 Memorial Blvd Murfreesboro, TN 37129-2727
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US80-0385129
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1968
Construction
FRAME
Total area
2,430 SF
Lot
0.33 ac (14,418 SF)
APN
091K-B-004.00-000
UPID
US80-0385129
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
-
Eye Center Eye Care Center
-
Bowles F Kirk MD Physician
-
Schenk William D MD Physician
-
Bailey Joseph MD Ophthalmologist
-
Smokes 2 Go (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$660k
CAP Approach
CAP
$435k
Comparable Approach
Comparable
$585k
Blend (final)
Blend
$645k
Owner & transaction history
M & L Property Holdings LLC · 4 yrs held
M & L Property Holdings LLC
since 2022
Last sale
$642,500
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$740,000
+47.5%
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 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
$700,000
ML approach
$660,000
CAP Approach
CAP Return
Estimation
6%
$470,000
6.5%
$435,000
7%
$405,000
Alternative Use
Use
Estimation
RETAIL STORES
$500,000
Current use
COMMERCIAL (GENERAL)
$740,000
Change: +47% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$500,000
Change: -1% · Conversion: Moderate
MEDICAL BUILDING
$450,000
Change: -10% · Conversion: Difficult
AUTO REPAIR, GARAGE
$435,000
Change: -13% · Conversion: Difficult
OFFICE BUILDING
$405,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$645k
Range $581k – $710k · ±10% · vs last sale $643k (May 31 2022)
Last sale anchor
$643k
May 31 2022
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
$265 / 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
$4,372
Tax year 2023
Assessed value
$154,560
Assessed 2024
Previous assessed
$154,560
+0.0% YoY
Effective rate
2.83%
On assessed value
Assessed land
$99,200
Assessed improvement
$55,360
Land market value
$248,000
Improvement market value
$138,400
Total market value
$386,400
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1968
Construction
FRAME
Heating
ZONE
Cooling
YES
Stories
1
Units
1
Rooms
2
Bathrooms
1
Total area
2,430 SF
Lot
0.33 ac (14,418 SF)
APN
091K-B-004.00-000
UPID
US80-0385129
Jurisdiction
RUTHERFORD
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$500,000
COMMERCIAL (GENERAL)
Est. value
$740,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$500,000
MEDICAL BUILDING
Est. value
$450,000
AUTO REPAIR, GARAGE
Est. value
$435,000
OFFICE BUILDING
Est. value
$405,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1968
Construction
FRAME
Heating
ZONE
Cooling
Yes
Stories
1
Units
1
Rooms
2
Bathrooms
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
M & L Property Holdings LLC
Entity
Mailing address
511 MEMORIAL BLVD, MURFREESBORO, TN 37129-2727
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 31, 2022
$642,500
M & L Property Holdings LLC
Watts Investment Corp
Warranty Deed
$845,000 · Live Oak Banking Company
May 29, 2020
—
Watts Investment Corp
—
Deed
related
$3,500,000 · Bancorpsouth
Sep 14, 2016
—
Watts Investment Corp
—
Deed
related
$722,249 · Regions Bk
May 24, 2012
$287,000
Watts Investment Corp
Khamis,mohab
Warranty Deed
$394,897 · Regions Bk/fayette
Sep 9, 2010
$270,000
Mohab Khamis
Dement,thomas A JR
Warranty Deed
—
Mar 26, 2008
$425,000
Joseph C Bailey
Owner,record
Grant Deed
related
—
Aug 8, 2003
$85,000
State Of Tennessee
Bailey,joseph
Grant Deed
—
—
—
Thomas A Dement JR.
—
Deed Of Trust
related
$380,000 · Regions Bank
—
—
Watts Investment Corp
—
Loan Modification
related
$722,249 · Regions Bk
—
—
Watts Investment Corp
—
Deed Of Trust
related
$3,500,000 · Bancorpsouth
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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