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Property profile & analytics
OFF-MARKET
Estimated value
$4,435,000
Warehouses
824 Industrial Dr Murfreesboro, TN 37129-4927
Entity Owned
Free & Clear
Property ID
US80-1079976
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1990
Total area
23,000 SF
Lot
3.44 ac (149,846 SF)
Zoning code
I
APN
102-019.20-000
UPID
US80-1079976
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
-
BoroTek Powder Coating - Nashville Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.76M
CAP Approach
CAP
$2.90M
Comparable Approach
Comparable
$2.84M
Blend (final)
Blend
$4.44M
Owner & transaction history
Middle Tn Electric Membership Corp
Middle Tn Electric Membership Corp
since 2025
Last sale
$4.2M
7 recorded transactions
Zoning & alternative use
I · Murfreesboro, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.0M
+148.9%
Retail stores
$4.8M
+68.8%
Neighborhood: shopping center
$4.7M
+67.9%
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 Murfreesboro submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Murfreesboro 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
$4,680,000
ML approach
$4,760,000
CAP Approach
CAP Return
Estimation
6%
$3,145,000
6.5%
$2,900,000
7%
$2,695,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,820,000
Current use
COMMERCIAL (GENERAL)
$7,015,000
Change: +149% · Conversion: Difficult
RETAIL STORES
$4,755,000
Change: +69% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$4,730,000
Change: +68% · Conversion: Moderate
MEDICAL BUILDING
$4,280,000
Change: +52% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,120,000
Change: +46% · Conversion: Easy
OFFICE BUILDING
$3,825,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$4.44M
Range $3.99M – $4.88M · ±10% · vs last sale $4.15M (May 18 2025)
Last sale anchor
$4.15M
May 18 2025
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
$193 / 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
$17,220
Tax year 2023
Assessed value
$608,720
Assessed 2024
Previous assessed
$608,720
+0.0% YoY
Effective rate
2.83%
On assessed value
Assessed land
$180,040
Assessed improvement
$428,680
Land market value
$450,100
Improvement market value
$1,071,700
Total market value
$1,521,800
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1990
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Bathrooms
4
Total area
23,000 SF
Lot
3.44 ac (149,846 SF)
Zoning code
I
APN
102-019.20-000
UPID
US80-1079976
Jurisdiction
RUTHERFORD
Zoning & alternative use
I · Murfreesboro, TN
Zoning I · permitted uses
I · Murfreesboro, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Murfreesboro. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$7.0M
RETAIL STORES
Est. value
$4.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.7M
MEDICAL BUILDING
Est. value
$4.3M
AUTO REPAIR, GARAGE
Est. value
$4.1M
OFFICE BUILDING
Est. value
$3.8M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1990
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Bathrooms
4
Lot
3.44 ac
Current owner
From public records · entity-resolved
Middle Tn Electric Membership Corp
Entity
Free & Clear · 0 yrs held
Mailing address
1086 COURIER PL, SMYRNA, TN 37167-6209
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
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2025
—
Middle Tn Electric Membership Corp
Stoner Enterprises INC
Quitclaim Deed
related
—
Aug 18, 2025
$4,150,000
Middle Tn Electric Membership Corp
Stoner Enterprises INC
Warranty Deed
—
Feb 3, 2022
$4,300,000
Stoner Enterprises INC
Jason Makuch
Warranty Deed
$3,840,000 · Mvb Bank INC
Feb 4, 2020
—
Borotek Powder Coating
—
Deed
related
$1,250,000 · Wilson Bk&tr
Dec 18, 2018
$1,100,000
Jason Makuch
Coffee County Bank
Grant Deed
$1,091,264 · Wilson Bk&tr
Sep 14, 2018
$1,050,000
Coffee County Bank
Kirby Kenneth C
Trustees Deed
related
—
May 7, 2014
$1,350,000
All In One Recycling INC
Carter,bradley D
Warranty Deed
$1,356,947 · Coffee County Bank
Jul 30, 2007
—
Brad Carter Properties
—
Trustees Deed
related
$80,000 · Coffee County Bank
May 9, 2005
—
Bradley D Carter
Molded Metal Ptshp
Quit Claim Deed
related
—
May 9, 2005
$800,000
Bradley D Carter
Park,dennis D
Quit Claim Deed
related
$1,220,000 · Coffee County Bank
Jan 29, 2001
—
City Of Murfreesboro
Molded,metal P
Grant Deed
related
—
Nov 13, 1989
$42,160
Molded Metal Partnership
Unknown
Grant Deed
—
—
—
Molded Metal Services INC
—
Deed Of Trust
related
$380,000 · Coffee County Bank
—
—
Borotek Powder Coating
—
Deed Of Trust
related
$1,250,000 · Wilson Bk&tr
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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