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Property profile & analytics
OFF-MARKET
Estimated value
$1,015,000
Strip malls
8500 Wilkinsville Rd, Millington, TN 38053-1536
Individually Owned
9-yr Hold
Free & Clear
Property ID
US80-1816445
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2006
Total area
9,360 SF
Lot
1.01 ac (43,821 SF)
Zoning code
P-C
APN
M01-15R- -B-00005
UPID
US80-1816445
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
-
Olympic Steak & Pizza - Millington Restaurant
-
1st Heritage Credit Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.02M
Owner & transaction history
Mitchell Kitay · 9 yrs held
Mitchell Kitay
since 2016
5 recorded transactions
Zoning & alternative use
P-C · Millington, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.4M
+66.3%
Office building
$1.1M
+34.4%
Auto repair, garage
$935,000
+12.4%
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
NEIGHBORHOOD: SHOPPING CENTER
$835,000
Current use
MEDICAL BUILDING
$1,385,000
Change: +66% · Conversion: Difficult
OFFICE BUILDING
$1,120,000
Change: +34% · Conversion: Moderate
AUTO REPAIR, GARAGE
$935,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$840,000
Change: +1% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$835,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$1.02M
Range $914k – $1.12M · ±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
$108 / 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
$23,994
Tax year 2022
Assessed value
$500,920
Assessed 2023
Previous assessed
$500,920
+0.0% YoY
Effective rate
4.79%
On assessed value
Assessed land
$129,960
Assessed improvement
$370,960
Land market value
$324,900
Improvement market value
$927,400
Total market value
$1,252,300
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
2006
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
9,360 SF
Lot
1.01 ac (43,821 SF)
Zoning code
P-C
APN
M01-15R- -B-00005
UPID
US80-1816445
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$835,000
MEDICAL BUILDING
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$935,000
RETAIL STORES
Est. value
$840,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$835,000
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
OFFICE BUILDING
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
2006
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.01 ac
Current owner
From public records · entity-resolved
Mitchell Kitay
Individual
Free & Clear · 9 yrs held
Mailing address
999 N DOHENY DR PH #7, WEST HOLLYWOOD, CA 90069-3154
Ownership since
2016
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
Sep 6, 2016
$1,250,000
Mitchell Kitay
Wilkinsville Partners LLC
Grant Deed
—
Dec 4, 2008
—
Chamberlain Mccreery
Chamberlain Mccreery & Rice Ll
Quit Claim Deed
related
—
May 17, 2007
$1,350,000
Chamberlain Mccreery
Wilkinsville Partners LLC
Grant Deed
—
—
—
Wilkinsville Partners LLC
—
Deed Of Trust
related
$1,125,000 · Renasant Bank
—
—
Wilkinsville Partners LLC
—
Deed Of Trust
related
$1,125,000 · Renasant 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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