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Property profile & analytics
OFF-MARKET
Estimated value
$3,505,000
Retail space
9028 Walnut Grv Rd, Cordova, TN 38018-7469
Individually Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-0963511
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2002
Total area
15,406 SF
Lot
1.94 ac (84,289 SF)
Zoning code
CMU-2
APN
091-087- - -00077
UPID
US80-0963511
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Pharmacy Pharmacy
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
-
FedEx OnSite Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.64M
CAP Approach
CAP
$2.15M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.51M
Owner & transaction history
Exchangeright Net Leased Portfolio · 5 yrs held
Exchangeright Net Leased Portfolio
since 2021
Last sale
$4.2M
2 recorded transactions
Zoning & alternative use
CMU-2 · Cordova, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.9M
+251.5%
Neighborhood: shopping center
$2.5M
+80.8%
Medical building
$2.3M
+64.8%
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
$3,405,000
ML approach
$3,640,000
CAP Approach
CAP Return
Estimation
6%
$2,330,000
6.5%
$2,150,000
7%
$1,995,000
Alternative Use
Use
Estimation
RESTAURANT
$4,865,000
Change: +252% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,500,000
Change: +81% · Conversion: Moderate
MEDICAL BUILDING
$2,280,000
Change: +65% · Conversion: Difficult
Blend value · Realmo final
$3.51M
Range $3.15M – $3.86M · ±10% · vs last sale $4.17M (May 26 2021)
Last sale anchor
$4.17M
May 26 2021
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
$228 / 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
$48,733
Tax year 2023
Assessed value
$800,000
Assessed 2024
Previous assessed
$800,000
+0.0% YoY
Effective rate
6.09%
On assessed value
Assessed land
$343,680
Assessed improvement
$456,320
Land market value
$859,200
Improvement market value
$1,140,800
Total market value
$2,000,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2002
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
15,406 SF
Lot
1.94 ac (84,289 SF)
Zoning code
CMU-2
APN
091-087- - -00077
UPID
US80-0963511
Jurisdiction
SHELBY
Zoning & alternative use
CMU-2 · Cordova, TN
Zoning CMU-2 · permitted uses
CMU-2 · 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
RESTAURANT
Est. value
$4.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.3M
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
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
2002
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.94 ac
Current owner
From public records · entity-resolved
Exchangeright Net Leased Portfolio
Individual
Free & Clear · 5 yrs held
Mailing address
1055 E COLORADO BLVD STE #310, PASADENA, CA 91106-2374
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Jun 23, 2021
—
Exchangeright Net Leased Portfolio
—
Deed
related
—
May 26, 2021
$4,166,670
Exchangeright Net Leased Portfolio
Boyle Investment Company
Special Warranty Deed
—
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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