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Property profile & analytics
OFF-MARKET
Estimated value
$4,270,000
Hotels
8166 Varnavas Dr, Cordova, TN 38016-3864
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US80-3279531
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1996
Total area
66,050 SF
Lot
2.16 ac (94,264 SF)
Zoning code
RU-3
APN
096-500- - -00502
UPID
US80-3279531
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
$4.05M
CAP Approach
CAP
$4.75M
Comparable Approach
Comparable
$3.32M
Blend (final)
Blend
$4.27M
Owner & transaction history
Onyx Wolfchase Hotel 2 LLC · 4 yrs held
Onyx Wolfchase Hotel 2 LLC
since 2022
Last sale
$4.8M
7 recorded transactions
Zoning & alternative use
RU-3 · Cordova, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.6M
+34.8%
Retail stores
$5.9M
+21.0%
Apartment house (5+ units)
$5.9M
+20.3%
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
$3,960,000
ML approach
$4,050,000
CAP Approach
CAP Return
Estimation
6%
$5,145,000
6.5%
$4,750,000
7%
$4,410,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$4,905,000
Current use
AUTO REPAIR, GARAGE
$6,605,000
Change: +35% · Conversion: Difficult
RETAIL STORES
$5,935,000
Change: +21% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,900,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$4.27M
Range $3.84M – $4.70M · ±10% · vs last sale $4.77M (May 27 2022)
Last sale anchor
$4.77M
May 27 2022
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
$65 / 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
$84,167
Tax year 2022
Assessed value
$1,381,680
Assessed 2023
Previous assessed
$1,381,680
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$176,960
Assessed improvement
$1,204,720
Land market value
$442,400
Improvement market value
$3,011,800
Total market value
$3,454,200
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1996
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
66,050 SF
Lot
2.16 ac (94,264 SF)
Zoning code
RU-3
APN
096-500- - -00502
UPID
US80-3279531
Jurisdiction
SHELBY
Zoning & alternative use
RU-3 · Cordova, TN
Zoning RU-3 · permitted uses
RU-3 · 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
HOTEL/MOTEL Current
Est. value
$4.9M
AUTO REPAIR, GARAGE
Est. value
$6.6M
RETAIL STORES
Est. value
$5.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.9M
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1996
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
2.16 ac
Current owner
From public records · entity-resolved
Onyx Wolfchase Hotel 2 LLC
Entity
Mailing address
8166 VARNAVAS DR, CORDOVA, TN 38016-3864
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 27, 2022
$4,770,000
Onyx Wolfchase Hotel 2 LLC
Bij Hotel INC
Quit Claim Deed
related
$7,500,000 · Planters Bank & Trust Co
May 19, 2022
$4,770,000
Blj Hotel LLC
Onyx Wolfchase Hotel 2 LLC
Quit Claim Deed
related
—
Feb 14, 2022
—
Onyx Wofchase Hotel 2 LLC
Niranjan K Vemuri
Quit Claim Deed
related
—
Dec 15, 2021
—
Jayesh B Bhima
Shiv Srajb LLC
Quit Claim Deed
related
—
Dec 15, 2021
$4,770,000
Niranjan K Vemuri
Jayesh B Bhima
Warranty Deed
—
Jun 23, 2020
$4,200,000
Shiv Srajb LLC
Akshar Macon LLC
Grant Deed
$2,186,000 · Centennial Bk
Sep 24, 2019
—
Akshar Macon LLC
—
Deed
related
$2,191,258 · Arkansas FCU
Jul 14, 2017
—
Akshar Macon LLC
—
Deed
related
$1,601,000 · Private Individual
Aug 26, 2016
$2,121,600
Akshar Macon LLC
Patel,minesh
Grant Deed
$3,676,250 · Centennial Bk
Dec 5, 2011
$2,500,000
Minesh Patel
Shyona INC
Warranty Deed
related
$2,800,000 · Liberty Bank Arkansas
Apr 30, 2008
$5,221,000
Shyona INC
Memphis Suites LLC
Warranty Deed
related
$4,736,501 · Bank Of Chickamauga
—
—
Akshar Macon LLC
—
Deed Of Trust
related
$2,191,258 · Arkansas FCU
—
—
Akshar Macon LLC
—
Deed Of Trust
related
$1,601,000 · Private Individual
—
—
Memphis Best Suites LLC
—
Deed Of Trust
related
$400,000 · Banterra 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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