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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Medical Office Space
735 Mcfarland St Morristown, TN 37814-3977
Entity Owned
7-yr Hold
Free & Clear
Property ID
US80-0711720
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1985
Construction
WOOD
Total area
9,472 SF
Lot
0.59 ac (25,700 SF)
APN
032033L B 00200
UPID
US80-0711720
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
-
Morristown Heart Medical Clinic
-
Mcneil David W MD Ophthalmologist
-
Robert Mcqueen Physician
-
Robert Hughes Mcqueen Physician
-
Dr. Sunil T. Ramaprasad, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$670k
Owner & transaction history
Ramapasad Prof Prop LP · 7 yrs held
Ramapasad Prof Prop LP
since 2019
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$990,000
+11.8%
Commercial (general)
$945,000
+6.9%
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 Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$885,000
Current use
AUTO REPAIR, GARAGE
$990,000
Change: +12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$945,000
Change: +7% · Conversion: Easy
RESTAURANT
$740,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$670k
Range $603k – $737k · ±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
$71 / 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
$363,880
Assessed 2023
Previous assessed
$363,880
+0.0% YoY
Assessed land
$35,320
Assessed improvement
$328,560
Land market value
$88,300
Improvement market value
$821,400
Total market value
$909,700
Applied tax rate
32.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1985
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Units
1
Rooms
16
Bathrooms
5
Total area
9,472 SF
Lot
0.59 ac (25,700 SF)
APN
032033L B 00200
UPID
US80-0711720
Jurisdiction
HAMBLEN
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
MEDICAL BUILDING Current
Est. value
$885,000
AUTO REPAIR, GARAGE
Est. value
$990,000
COMMERCIAL (GENERAL)
Est. value
$945,000
RESTAURANT
Est. value
$740,000
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RESTAURANT
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
1985
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
16
Bathrooms
5
Lot
0.59 ac
Current owner
From public records · entity-resolved
Ramapasad Prof Prop LP
Entity
Free & Clear · 7 yrs held
Mailing address
735 MCFARLAND ST, MORRISTOWN, TN 37814-3977
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 25, 2019
$432,500
Ramapasad Prof Prop LP
Patel Prof Prop LP
Quit Claim Deed
related
—
Apr 24, 2012
$600,000
Ramaprasad Professional Proper
Ce Morristown Eye
Warranty Deed
$595,000 · First Tennessee Bank NA
Feb 25, 2011
—
Morristown Regional Eye Ctr La
Mcneil & Lindsey Land Account
Quit Claim Deed
related
—
Jun 24, 2008
—
Mcniel Accounty
Mcniel,david
Quit Claim Deed
related
—
—
—
Morristown Regional Eye Ctr La
—
Deed Of Trust
related
$1,200,000 · First Tennessee Bank National
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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