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Property profile & analytics
FOR LEASE
Individual retail properties
860 Herbert Rd Cordova, TN 38018
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US80-3262895
For Lease
1 / 3
$8.16 SF/Yr
860 Herbert Rd, Cordova, TN 38018
View Listing →
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
2001
Total area
17,150 SF
Lot
0.67 ac (29,185 SF)
Zoning code
IH
APN
091-032- - -00009
UPID
US80-3262895
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
-
Memphis Baseball Academy Gym & Fitness Center Sports School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$785k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$865k
Owner & transaction history
Ibb Holdings Gp · 3 yrs held
Ibb Holdings Gp
since 2023
Last sale
$920,000
4 recorded transactions
Zoning & alternative use
IH · Cordova, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.4M
+247.3%
Commercial (general)
$1.2M
+186.5%
Medical building
$1.0M
+146.2%
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 Cordova submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cordova 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
$835,000
ML approach
$785,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,410,000
Change: +247% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,165,000
Change: +186% · Conversion: Difficult
MEDICAL BUILDING
$1,000,000
Change: +146% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$710,000
Change: +74% · Conversion: Difficult
AUTO REPAIR, GARAGE
$590,000
Change: +45% · Conversion: Difficult
Blend value · Realmo final
$865k
Range $779k – $952k · ±10% · vs last sale $920k (Apr 12 2023)
Last sale anchor
$920k
Apr 12 2023
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
$50 / 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
$16,231
Tax year 2022
Assessed value
$266,440
Assessed 2023
Previous assessed
$266,440
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$58,360
Assessed improvement
$208,080
Land market value
$145,900
Improvement market value
$520,200
Total market value
$666,100
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
For Lease
Year built
2001
Heating
SPACE
Cooling
NONE
Stories
1
Total area
17,150 SF
Lot
0.67 ac (29,185 SF)
Zoning code
IH
APN
091-032- - -00009
UPID
US80-3262895
Jurisdiction
SHELBY
Zoning & alternative use
IH · Cordova, TN
Zoning IH · permitted uses
IH · Cordova, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cordova. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$710,000
AUTO REPAIR, GARAGE
Est. value
$590,000
RETAIL STORES
COMMERCIAL (GENERAL)
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
SPACE
Cooling
Yes
Stories
1
Lot
0.67 ac
Current owner
From public records · entity-resolved
Ibb Holdings Gp
Entity
Mailing address
PO BOX 40642, MEMPHIS, TN 38174-0642
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 12, 2023
$920,000
Ibb Holdings Gp
Gameday Properties LLC
Special Warranty Deed
$755,750 · First Citizens National Bank
Mar 11, 2008
$800,000
Marvin E Orr
Wb Sports Of Memphis LLC
Warranty Deed
—
Mar 11, 2008
—
Gameday Properties LLC
Orr,marvin E
Quit Claim Deed
related
—
Jun 16, 2005
$750,000
Wb Sports Of Memphis LLC
Sports Complex LLC
Warranty Deed
related
$761,000 · First Tennessee Bank National
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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