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Property profile & analytics
OFF-MARKET
Estimated value
$1,400,000
Strip malls
8457 Us Hwy 51st N, Millington, TN 38053-1553
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-1400495
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2001
Total area
6,240 SF
Lot
0.69 ac (29,882 SF)
Zoning code
P-C
APN
M01-15 - - -00895
UPID
US80-1400495
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
$1.40M
CAP Approach
CAP
$1.13M
Comparable Approach
Comparable
$1.08M
Blend (final)
Blend
$1.40M
Owner & transaction history
Highway 51 Holdings LLC · 1 yrs held
Highway 51 Holdings LLC
since 2024
Last sale
$1.4M
2 recorded transactions
Zoning & alternative use
P-C · Millington, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.0M
+254.8%
Medical building
$925,000
+66.3%
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 Millington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millington 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
$1,400,000
ML approach
$1,400,000
CAP Approach
CAP Return
Estimation
6%
$1,225,000
6.5%
$1,130,000
7%
$1,050,000
Alternative Use
Use
Estimation
RESTAURANT
$1,970,000
Change: +255% · Conversion: Difficult
MEDICAL BUILDING
$925,000
Change: +66% · Conversion: Difficult
Blend value · Realmo final
$1.40M
Range $1.26M – $1.54M · ±10% · vs last sale $1.40M (Dec 12 2024)
Last sale anchor
$1.40M
Dec 12 2024
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
$224 / 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
$18,074
Tax year 2022
Assessed value
$377,320
Assessed 2023
Previous assessed
$377,320
+0.0% YoY
Effective rate
4.79%
On assessed value
Assessed land
$172,960
Assessed improvement
$204,360
Land market value
$432,400
Improvement market value
$510,900
Total market value
$943,300
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2001
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
6,240 SF
Lot
0.69 ac (29,882 SF)
Zoning code
P-C
APN
M01-15 - - -00895
UPID
US80-1400495
Jurisdiction
SHELBY
Zoning & alternative use
P-C · Millington, TN
Zoning P-C · permitted uses
P-C · Millington, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Millington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$925,000
RESTAURANT
MEDICAL 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
2001
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.69 ac
Current owner
From public records · entity-resolved
Highway 51 Holdings LLC
Entity
Free & Clear · 1 yrs held
Mailing address
14112 PERDIDO KEY DRB, PENSACOLA, FL 32507-9511
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Dec 12, 2024
$1,400,000
Highway 51 Holdings LLC
Mirabile Properties
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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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