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Property profile & analytics
OFF-MARKET
Estimated value
$23,245,000
Outlet malls
7900 Ikea Way, Cordova, TN 38016-1410
Entity Owned
Absentee Owner
Free & Clear
Property ID
US80-2821188
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2016
Total area
270,045 SF
Lot
28.34 ac (1,234,490 SF)
Zoning code
CA
APN
096-500- - -00763
UPID
US80-2821188
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$24.26M
Blend (final)
Blend
$23.25M
Owner & transaction history
Ikea Property INC
Ikea Property INC
since 2026
2 recorded transactions
Zoning & alternative use
CA · Cordova, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$30.9M
+27.2%
Auto repair, garage
$27.0M
+11.4%
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 Cordova submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cordova 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
RETAIL STORES
$24,260,000
Current use
OFFICE BUILDING
$30,860,000
Change: +27% · Conversion: Easy
AUTO REPAIR, GARAGE
$27,015,000
Change: +11% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$24,110,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$23.25M
Range $20.92M – $25.57M · ±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
$86 / 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
Land market value
$5,003,300
Improvement market value
$28,414,100
Total market value
$33,417,400
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2016
Heating
NONE
Cooling
NONE
Stories
1
Total area
270,045 SF
Lot
28.34 ac (1,234,490 SF)
Zoning code
CA
APN
096-500- - -00763
UPID
US80-2821188
Jurisdiction
SHELBY
Zoning & alternative use
CA · Cordova, TN
Zoning CA · permitted uses
CA · Cordova, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cordova. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$24.3M
OFFICE BUILDING
Est. value
$30.9M
AUTO REPAIR, GARAGE
Est. value
$27.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$24.1M
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2016
Heating
NONE
Cooling
Yes
Stories
1
Lot
28.34 ac
Current owner
From public records · entity-resolved
Ikea Property INC
Entity
Free & Clear · 0 yrs held
Mailing address
420 ALAN WOOD RD, CONSHOHOCKEN, PA 19428-1141
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2026
—
Ikea Property INC
Economic Dev Growth Engine Industri
Quitclaim Deed
related
—
Nov 22, 2019
$1,570,000
Optima Ptshp
Ikea Property INC
Grant 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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