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Property profile & analytics
OFF-MARKET
Estimated value
$6,000,000
Office Spaces
541 Sid Martin Rd Gray, TN 37615-6210
Individually Owned
Free & Clear
Property ID
US80-1595215
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
78,006 SF
Lot
9.8 ac (426,888 SF)
Zoning code
I-1
APN
012 06500
UPID
US80-1595215
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
$6.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.25M
Blend (final)
Blend
$6.00M
Owner & transaction history
Wright Jeremy
Wright Jeremy
since 2026
Last sale
$6.0M
6 recorded transactions
Zoning & alternative use
I-1 · Gray, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$7.6M
+7.3%
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 Gray submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gray 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
$6,000,000
ML approach
$6,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$7,090,000
Current use
RETAIL STORES
$7,610,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$6.00M
Range $5.40M – $6.60M · ±10% · vs last sale $6.00M (Jan 26 2024)
Last sale anchor
$6.00M
Jan 26 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
$77 / 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
$3,696,600
Assessed 2023
Previous assessed
$3,696,600
+0.0% YoY
Assessed land
$421,400
Assessed improvement
$3,275,200
Land market value
$1,053,500
Improvement market value
$8,188,000
Total market value
$9,241,500
Applied tax rate
90.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
1
Rooms
1
Bathrooms
8
Total area
78,006 SF
Lot
9.8 ac (426,888 SF)
Zoning code
I-1
APN
012 06500
UPID
US80-1595215
Jurisdiction
WASHINGTON
Zoning & alternative use
I-1 · Gray, TN
Zoning I-1 · permitted uses
I-1 · Gray, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gray. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$7.1M
RETAIL STORES
Est. value
$7.6M
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Units
1
Rooms
1
Bathrooms
8
Lot
9.8 ac
Current owner
From public records · entity-resolved
Wright Jeremy
Individual
Free & Clear · 0 yrs held
Mailing address
5034 BOBBY HICKS HWY STE #20, JOHNSON CITY, TN 37615-6214
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2026
$157,926
Wright Jeremy
Joe-ann Fenner
Special Warranty Deed
—
Jan 9, 2026
—
Blackburn Childers & Steagall Plc
—
Deed
related
—
Dec 23, 2025
—
The Michael F Eddy Trust
Mark Larkey
Quitclaim Deed
related
$9,918,199 · First Citizens Bank & Trust Co
Jan 26, 2024
$6,000,000
Rbm Properties Group
Citigroup Technology INC
Special Warranty Deed
$2,000,000 · Hometrust Bank
Jan 26, 2024
—
Mark Larkey
Citigroup Technology INC
Quit Claim Deed
related
$10,841,750 · Citizens Bank
Jan 6, 2023
—
Citigroup Technology INC
Citicorp Credit Services INC
Quit Claim Deed
related
—
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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