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Property profile & analytics
OFF-MARKET
Retail space
68 Morgan Cir 68 Petersburg, TN 37144-7644
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US80-3548377
Property summary
AI-generated overview
This thriving restaurant, Crossroads Mealhouse, presents a unique opportunity for ownership in Petersburg, TN. Located on Highway 431, the property boasts approximately 400 feet of road frontage, ensuring high visibility and accessibility. The 1,800 square foot building sits on a 0.52-acre lot and comfortably seats 69 patrons. Included in the sale are most of the restaurant's equipment, tables, chairs, dishes, and some inventory. The option to acquire the established restaurant name is also available. Note that some items belong to vendors and are not included. The property features two HVAC units, one of which is only three years old, providing efficient climate control. Additional features include a 12x5 storage closet and two half-bathrooms. A stainless steel hot bar and cold bar, housed in a storage container, are also part of the sale. The property's leasehold items include a dumpster, propane tank, and grease catcher. This turnkey operation is priced at $315,000 and offers immediate potential for continued success.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2012
Construction
WOOD
Total area
1,980 SF
Lot
0.52 ac (22,651 SF)
APN
4003
UPID
US80-3548377
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
-
PETERSBURG POLICE SPEEDTRAP Government Office
-
Crossroads Mealhouse Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Mervlr INC · 3 yrs held
Mervlr INC
since 2023
Last sale
$210,000
6 recorded transactions
Zoning & alternative use
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 Petersburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Petersburg 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)
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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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2022Property tax & assessments
Tax year 2022
Tax billed
$554
Tax year 2022
Assessed value
$26,360
Assessed 2023
Previous assessed
$26,360
+0.0% YoY
Effective rate
2.10%
On assessed value
Assessed land
$3,280
Assessed improvement
$23,080
Land market value
$8,200
Improvement market value
$57,700
Total market value
$65,900
Applied tax rate
52.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2012
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Bathrooms
0
Total area
1,980 SF
Lot
0.52 ac (22,651 SF)
APN
4003
UPID
US80-3548377
Jurisdiction
LINCOLN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2012
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
0
Lot
0.52 ac
Current owner
From public records · entity-resolved
Mervlr INC
Entity
Mailing address
1590 NASHVILLE HWY, LEWISBURG, TN 37091-2259
Ownership since
2023
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
Jun 28, 2023
$210,000
Mervlr INC
Leon D Eady
Warranty Deed
—
Dec 22, 2011
$8,000
Ronnie D Brown
Dunivan,phillip J
Warranty Deed
—
Dec 1, 2009
$8,100
Phillip J Dunivan
Roberts,david R & Joetta
Warranty Deed
—
Jan 18, 2008
$60,000
David R Roberts
Morgan Buford L Living Trust
Grant Deed
$74,000 · First National Bank
—
—
Ronnie D Brown
—
Deed Of Trust
related
$51,314 · Bank Of Lincoln Cnty
—
—
David R Roberts
—
Deed Of Trust
related
$11,000 · First National Bank
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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