Automotive Property with Highway
For Sale
$150,000
Pending
8421 Asheville Hwy, Knoxville, TN 37924
Commercial Sale, Knoxville, TN
Property Size536 SF
Days on Market2025
Property Features for 8421 Asheville Hwy
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
commercial
Parking
15
Directions
east on Asheville Hwy to property on the left before the old Helmas resturant.
Subdivision
Knox County - 1
Standard status
Pending
APN
062 234
Size
536 SF
Taxes and HOA fees
Tax Annual Amount
785
Utilities
Heating system
Electric (Heating)
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Floors in Building
1
Building materials
Steel Siding
Listing Agency:
Hammontree Real Estate
Listed By:
Pamela Hammontree
(865) 573-0145
Added: Feb 18, 2021
Changed: Aug 19
Last Checked: Sep 5 at 11:06AM
MLS# 1144029
Copyright © 2026 East Tennessee Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This automotive property includes multiple buildings and is currently used as a car lot. The improvements include a masonry building and a separate metal garage. The property fronts Asheville Hwy for approximately 159 feet and is located at 8421 Asheville Hwy in Knoxville, Tennessee.
Public water serves the property. Building features include electric heating and wall-unit cooling. Showings are available by appointment only.
Public water serves the property. Building features include electric heating and wall-unit cooling. Showings are available by appointment only.
Key Highlights
- Approximately 159 feet of frontage along Asheville Hwy
- Current car‑lot use
- Multiple buildings, including a masonry building and metal garage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$7,699
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$153,980
$154.0K
Cap Rate 7%
$109,986
$110.0K
Cap Rate 9%
$85,544
$85.5K
Market Conditions
NOI Build-Up for 536 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$11.6K $21.60/SF
− Vacancy
−$579 −$1.08/SF
EGI
$11.0K $20.52/SF
− OpEx
−$3.3K −$6.16/SF
NOI
$7.7K $14.36/SF
Area
Knoxville, TN
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$153,980
Cap Rate 7%
$109,986
Cap Rate 9%
$85,544
Alternative Uses
Best Use
Retail
$110.0K
$96.2K – $128.3K
NOI $7,699 @ 7.0% cap · market cap 5.13%
Second Best
Industrial
$51.4K
$45.0K – $60.0K
NOI $3,597 @ 7.0% cap · market cap 2.40%
Theoretical Best
Office A
$132.8K
$116.2K – $154.9K
NOI $9,293 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 37924, TN
12,894
Population
6,052
Households
2.1
Avg Household Size
41
Median Age
28%
College-Educated
91%
High-School Grad
27.9 sq mi
ZIP Area
462
Density / Sq Mi
$73,794
Median Household Income
$40,594
Median Earnings
$1,020
Median Rent
$217,300
Median Home Value
Market
Vacancy Rate% for Retail in Knoxville, TN
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Automotive property - The property includes multiple buildings and is currently used as a car lot.
Where is this automotive property located?
The property is located at 8421 Asheville Hwy Knoxville, TN.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Approximately 159 feet of frontage along Asheville Hwy; Current car‑lot use; Multiple buildings, including a masonry building and metal garage
