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Property profile & analytics
OFF-MARKET
Estimated value
$2,680,000
Automotive properties
7661 Us Hwy 51st N Millington, TN 38053-2210
Entity Owned
2-yr Hold
Free & Clear
Property ID
US80-1370442
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1984
Total area
32,020 SF
Lot
10.38 ac (451,979 SF)
Zoning code
B-2
APN
M01-15 - - -00762
UPID
US80-1370442
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
$2.68M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.75M
Blend (final)
Blend
$2.68M
Owner & transaction history
7661 Highway 51 LLC · 2 yrs held
7661 Highway 51 LLC
since 2024
Last sale
$2.7M
3 recorded transactions
Zoning & alternative use
B-2 · Millington, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.8M
+19.5%
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 Millington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millington 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
$2,680,000
ML approach
$2,680,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$3,205,000
Current use
OFFICE BUILDING
$3,830,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$2,875,000
Change: -10% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,860,000
Change: -11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,850,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$2.68M
Range $2.41M – $2.95M · ±10% · vs last sale $2.68M (Jan 26 2024)
Last sale anchor
$2.68M
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
$84 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$28,957
Tax year 2022
Assessed value
$604,520
Assessed 2023
Previous assessed
$604,520
+0.0% YoY
Effective rate
4.79%
On assessed value
Assessed land
$284,280
Assessed improvement
$320,240
Land market value
$710,700
Improvement market value
$800,600
Total market value
$1,511,300
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1984
Heating
SPACE
Cooling
NONE
Stories
1
Total area
32,020 SF
Lot
10.38 ac (451,979 SF)
Zoning code
B-2
APN
M01-15 - - -00762
UPID
US80-1370442
Jurisdiction
SHELBY
Zoning & alternative use
B-2 · Millington, TN
Zoning B-2 · permitted uses
B-2 · Millington, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Millington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$3.2M
OFFICE BUILDING
Est. value
$3.8M
RETAIL STORES
Est. value
$2.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.9M
AUTO REPAIR, GARAGE Current
OFFICE BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
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
1984
Heating
SPACE
Cooling
Yes
Stories
1
Lot
10.38 ac
Current owner
From public records · entity-resolved
7661 Highway 51 LLC
Entity
Free & Clear · 2 yrs held
Mailing address
4535 SPG MDW WAY S, OLIVE BRANCH, MS 38654-6863
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2024
$2,680,000
7661 Highway 51 LLC
First Horizon Bank National Associa
Special Warranty Deed
—
Mar 22, 2001
—
Shelton E Harrison
—
Trustees Deed
related
$50,000 · Bancorp South Bank
—
—
Shelton E Harrison
—
Deed Of Trust
related
$950,000 · Bancorp South 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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