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Property profile & analytics
OFF-MARKET
Estimated value
$20,775,000
Outlet malls
823 Industrial Blvd Smyrna, TN 37167
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-1476010
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2008
Total area
122,600 SF
Lot
16.76 ac (730,066 SF)
APN
029-017.04-000
UPID
US80-1476010
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
$25.09M
Blend (final)
Blend
$20.78M
Owner & transaction history
Hp Es Ix Smyrna Tn LLC · 1 yrs held
Hp Es Ix Smyrna Tn LLC
since 2025
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$33.1M
+46.2%
Office building
$27.2M
+20.0%
Medical building
$25.1M
+10.7%
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 Smyrna submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Smyrna 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
$22,630,000
Current use
AUTO REPAIR, GARAGE
$33,085,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$27,150,000
Change: +20% · Conversion: Easy
MEDICAL BUILDING
$25,060,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$20,990,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$20.78M
Range $18.70M – $22.85M · ±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
$169 / 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
$175,289
Tax year 2023
Assessed value
$7,297,960
Assessed 2024
Previous assessed
$7,297,960
+0.0% YoY
Effective rate
2.40%
On assessed value
Assessed land
$2,521,720
Assessed improvement
$4,776,240
Land market value
$6,304,300
Improvement market value
$11,940,600
Total market value
$18,244,900
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
2008
Heating
ZONE
Cooling
YES
Buildings
8
Stories
1
Units
1
Total area
122,600 SF
Lot
16.76 ac (730,066 SF)
APN
029-017.04-000
UPID
US80-1476010
Jurisdiction
RUTHERFORD
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
RETAIL STORES Current
Est. value
$22.6M
AUTO REPAIR, GARAGE
Est. value
$33.1M
OFFICE BUILDING
Est. value
$27.2M
MEDICAL BUILDING
Est. value
$25.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$21.0M
RETAIL STORES Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
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
2008
Heating
ZONE
Cooling
Yes
Stories
1
Buildings
8
Units
1
Lot
16.76 ac
Current owner
From public records · entity-resolved
Hp Es Ix Smyrna Tn LLC
Entity
Free & Clear · 1 yrs held
Mailing address
10 NEW KING ST STE #102, WHITE PLAINS, NY 10604-1208
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Jan 8, 2025
$1,250,000
Hp Es Ix Smyrna Tn LLC
Jdfu Smyrna Land LLC
Special Warranty Deed
—
Oct 29, 2024
—
Jdfu Smyrna Land LLC
Felicitas Debt Fund LP
Deed
related
—
Mar 27, 2023
$700,000
Jdfu Snyrna Land LLC
Felicitas Debt Fund LP
Special Warranty Deed
—
Dec 16, 2022
$700,000
At Home Studio Living Smyrna Tn LLC
Felicitas Debt Fund LP
Special Warranty Deed
—
Dec 17, 2013
$27,875,000
Capref Smyrna LLC
Sam Ridley LLC
Grant Deed
$20,820,000 · Synovus 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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