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Property profile & analytics
OFF-MARKET
Estimated value
$865,000
Commercial land
Merchants Greene Blvd Morristown, TN 37813
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US80-2122550
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
9.4 ac (409,464 SF)
Zoning code
A1
APN
032048 05907
UPID
US80-2122550
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
$895k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$865k
Owner & transaction history
Auto Gallery Morristown LLC · 2 yrs held
Auto Gallery Morristown LLC
since 2023
Last sale
$800,000
4 recorded transactions
Zoning & alternative use
A1 · Morristown, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the A-1 Agriculture Forestry District is to provide the opportunity of agricultural land and related uses within the City limits, this zone should be applied to land, which is used for agricultural, very low intensity residential, or open space uses, but which is projected in the Urban Growth Boundary
Zone name
Agriculture Forestry District
General category
RESIDENTIAL
Zone area
459.50 ac
Source
Realmo
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 Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown 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
$960,000
ML approach
$895,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$865k
Range $779k – $952k · ±10% · vs last sale $800k (Mar 6 2023)
Last sale anchor
$800k
Mar 6 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
—
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
Property tax & assessments
Assessed value
$565,480
Assessed 2023
Previous assessed
$8,625
+6,456.3% YoY
Assessed land
$565,480
Land market value
$1,413,700
Total market value
$1,413,700
Applied tax rate
32.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Heating
NONE
Lot
9.4 ac (409,464 SF)
Zoning code
A1
APN
032048 05907
UPID
US80-2122550
Jurisdiction
HAMBLEN
Zoning & alternative use
A1 · Morristown, TNZoning A1 · permitted uses
A1 · Morristown, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the A-1 Agriculture Forestry District is to provide the opportunity of agricultural land and related uses within the City limits, this zone should be applied to land, which is used for agricultural, very low intensity residential, or open space uses, but which is projected in the Urban Growth Boundary
Zone name
Agriculture Forestry District
General category
RESIDENTIAL
Zone area
459.50 ac
Source
Realmo
Building & site characteristics
From public records
Heating
NONE
Lot
9.4 ac
Current owner
From public records · entity-resolved
Auto Gallery Morristown LLC
Entity
Mailing address
400 S BELLWOOD RD, MORRISTOWN, TN 37813-3311
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Nov 1, 2023
$2,650,000
Auto Gallery Morristown LLC
John Durham Bell
Warranty Deed
$2,150,000 · Jaime Vergara
Mar 6, 2023
$800,000
Durham Landing Mob LLC
John Durham Bell
Warranty Deed
—
Nov 15, 2022
—
City Of Morristown
John Durham Bell
Warranty Deed
—
Jul 20, 2017
$300,000
Blake Melling
John D Bell
Warranty Deed
$1,200,000 · First Peoples Bk/tn
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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