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Property profile & analytics
OFF-MARKET
Estimated value
$6,715,000
Outlet malls
8490 Us Hwy 51st N, Millington, TN 38053-1515
Entity Owned
15-yr Hold
Free & Clear
Property ID
US80-0791261
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2004
Construction
FRAME
Total area
108,870 SF
Lot
12.63 ac (550,119 SF)
Zoning code
R-0
APN
M01-15 - - -00926
UPID
US80-0791261
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
$6.05M
Blend (final)
Blend
$6.72M
Owner & transaction history
Chick-fil-a INC · 15 yrs held
Chick-fil-a INC
since 2010
2 recorded transactions
Zoning & alternative use
R-0 · Millington, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$10.9M
+11.4%
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
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
$9,780,000
Current use
AUTO REPAIR, GARAGE
$10,890,000
Change: +11% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$9,720,000
Change: -1% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$9,690,000
Change: -1% · Conversion: Moderate
Blend value · Realmo final
$6.72M
Range $6.04M – $7.39M · ±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
$62 / 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
$77,173
Tax year 2022
Assessed value
$1,611,120
Assessed 2023
Previous assessed
$1,611,120
+0.0% YoY
Effective rate
4.79%
On assessed value
Assessed land
$978,840
Assessed improvement
$632,280
Land market value
$2,447,100
Improvement market value
$1,580,700
Total market value
$4,027,800
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2004
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
108,870 SF
Lot
12.63 ac (550,119 SF)
Zoning code
R-0
APN
M01-15 - - -00926
UPID
US80-0791261
Jurisdiction
SHELBY
Zoning & alternative use
R-0 · Millington, TN
Zoning R-0 · permitted uses
R-0 · 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
RETAIL STORES Current
Est. value
$9.8M
AUTO REPAIR, GARAGE
Est. value
$10.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.7M
RETAIL STORES Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2004
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
12.63 ac
Current owner
From public records · entity-resolved
Chick-fil-a INC
Entity
Free & Clear · 15 yrs held
Mailing address
PO BOX 1111, NORTH WILKESBORO, NC 28659-1111
Ownership since
2010
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
Aug 30, 2010
$775,000
Chick-fil-a INC
Hwy 51 LLC
Grant Deed
—
Aug 30, 2010
—
Chick-fil-a INC
Hwy 51 LLC
Quit Claim Deed
related
—
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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