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Property profile & analytics
OFF-MARKET
Estimated value
$26,500,000
Grocery and convenience stores
5229 Veterans Pkwy 5241, Murfreesboro, TN 37128-4377
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US80-2823964
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2023
Total area
78,898 SF
Lot
14.53 ac (632,927 SF)
APN
093-001.06-000
UPID
US80-2823964
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
-
Publix Pharmacy at Westlawn Pharmacy
-
Publix Super Market at Westlawn Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$26.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$26.50M
Owner & transaction history
Westlawn Development Company LLC · 2 yrs held
Westlawn Development Company LLC
since 2024
Last sale
$26.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$23.9M
+67.0%
Auto repair, garage
$19.0M
+32.9%
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 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
$26,500,000
ML approach
$26,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$23,885,000
Change: +67% · Conversion: Easy
AUTO REPAIR, GARAGE
$19,015,000
Change: +33% · Conversion: Difficult
Blend value · Realmo final
$26.50M
Range $23.85M – $29.15M · ±10% · vs last sale $26.50M (Jun 6 2024)
Last sale anchor
$26.50M
Jun 6 2024
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
$336 / 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
$56,478
Tax year 2023
Assessed value
$3,831,880
Assessed 2024
Previous assessed
$3,260,080
+17.5% YoY
Effective rate
1.47%
On assessed value
Assessed land
$1,478,920
Assessed improvement
$2,352,960
Land market value
$3,697,300
Improvement market value
$5,882,400
Total market value
$9,579,700
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2023
Heating
ZONE
Cooling
YES
Buildings
2
Units
1
Total area
78,898 SF
Lot
14.53 ac (632,927 SF)
APN
093-001.06-000
UPID
US80-2823964
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
COMMERCIAL (GENERAL)
Est. value
$23.9M
AUTO REPAIR, GARAGE
Est. value
$19.0M
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2023
Heating
ZONE
Cooling
Yes
Buildings
2
Units
1
Lot
14.53 ac
Current owner
From public records · entity-resolved
Westlawn Development Company LLC
Entity
Mailing address
525 N TRYON ST STE #1600, CHARLOTTE, NC 28202-0213
Ownership since
2024
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
Jun 6, 2024
$26,500,000
Westlawn Development Company LLC
Mab Murfreesboro LLC
Special Warranty Deed
$15,900,000 · Rga Reinsurance Company
Apr 6, 2023
$1,800,000
Mcdonalds Real Estate Company
Mab Murfreesboro LLC
Special Warranty Deed
—
Dec 21, 2022
$1,632,743
Se Murfreesboro Westlawn LLC
Mab Murfreesboro LLC
Special Warranty Deed
$4,615,153 · Firstbank
Jul 5, 2019
—
Hollingshead Land LLC
Rhb LLC
Quit Claim Deed
related
—
Mar 20, 2019
$4,600,000
Oscar Properties LLC
Rhb LLC
Warranty Deed
$391,000 · Ascend FCU
Nov 1, 2018
—
Smyrna Ready Mix Concrete LLC
—
Grant Deed
related
$1,515,000 · First Nat'l Bk
Jul 26, 2016
—
Rhb LLC
Spivey & Hollingshead LLC
Quit Claim Deed
related
$3,029,500 · First Nat'l Bk
May 15, 2013
$2,200,395
Spivey & Hollingshead LLC
Cook Charles W
Trustees 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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