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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Manufacturing properties
815 Lee Hwy Cleveland, TN 37311-5854
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US80-1771976
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1952
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,800 SF
Lot
1.04 ac (45,333 SF)
Zoning code
CH
APN
057C B 018.00 000
UPID
US80-1771976
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
-
Tennessee Tumbling & Cheer Gym & Fitness Center
-
PaulSilvaMusic Music Venue Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$580k
CAP Approach
CAP
$555k
Comparable Approach
Comparable
$456k
Blend (final)
Blend
$580k
Owner & transaction history
Ct Properties · 3 yrs held
Ct Properties
since 2023
Last sale
$650,000
3 recorded transactions
Zoning & alternative use
CH · Cleveland, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$745,000
+129.6%
Retail stores
$505,000
+55.7%
Auto repair, garage
$485,000
+48.7%
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 Cleveland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cleveland 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
$580,000
ML approach
$580,000
CAP Approach
CAP Return
Estimation
6%
$600,000
6.5%
$555,000
7%
$515,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$745,000
Change: +130% · Conversion: Difficult
RETAIL STORES
$505,000
Change: +56% · Conversion: Moderate
AUTO REPAIR, GARAGE
$485,000
Change: +49% · Conversion: Easy
WAREHOUSE, STORAGE
$455,000
Change: +40% · Conversion: Easy
Blend value · Realmo final
$580k
Range $522k – $638k · ±10% · vs last sale $650k (Jan 3 2023)
Last sale anchor
$650k
Jan 3 2023
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
$85 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$2,739
Tax year 2023
Assessed value
$190,280
Assessed 2023
Previous assessed
$190,280
+0.0% YoY
Effective rate
1.44%
On assessed value
Assessed land
$135,360
Assessed improvement
$54,920
Land market value
$338,400
Improvement market value
$137,300
Total market value
$475,700
Applied tax rate
6.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1952
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Buildings
2
Stories
1
Rooms
2
Bathrooms
3
Total area
6,800 SF
Lot
1.04 ac (45,333 SF)
Zoning code
CH
APN
057C B 018.00 000
UPID
US80-1771976
Jurisdiction
BRADLEY
Zoning & alternative use
CH · Cleveland, TN
Zoning CH · permitted uses
CH · Cleveland, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cleveland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$745,000
RETAIL STORES
Est. value
$505,000
AUTO REPAIR, GARAGE
Est. value
$485,000
WAREHOUSE, STORAGE
Est. value
$455,000
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1952
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Stories
1
Buildings
2
Rooms
2
Bathrooms
3
Lot
1.04 ac
Current owner
From public records · entity-resolved
Ct Properties
Entity
Mailing address
PO BOX 4198, CLEVELAND, TN 37320-4198
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2023
$650,000
Ct Properties
Bjp Properties
Warranty Deed
$552,500 · Southeast Bank
Aug 5, 2015
—
Bjp Properties
Wilson Phyllis P Trust
Quit Claim Deed
related
—
Feb 11, 2015
—
James M Patterson
Pritchard Betty J
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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