For Sale
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1030 Knoxville Hwy, Oliver Springs, TN 37840
Medical Office Space
Property Size5,247 SF
Price / SF$228.70
Days on Market182
Property Features for 1030 Knoxville Hwy
General Information
Standard status
Active
Size
5,247 SF
Class
C
Property subtype
Office
Zoning
Open
Investment Type
Sale/Leaseback
Building Details
Year Built
1976
Listing Agency:
Rocky Top Realty
Listed By:
Tera Jones · License #TN 298989
Source:
Crexi
Added: Feb 24
Changed: Aug 8
Last Checked: Aug 23 at 5:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rocky Top Realty
Investment Insights
Based on property information with market context.
Key Highlights
- Well‑equipped medical office space with 6 exam rooms, lab, and X‑ray room, ready for immediate clinical operations.
- Adaptable layout suitable for various healthcare or professional uses (dental, legal, financial, etc.).
- Potential for multi‑practice occupancy or conversion to other professional services with an additional suite.
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
$69,418
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
5.78%
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%
$1,388,360
$1.4M
Cap Rate 7%
$991,686
$991.7K
Cap Rate 9%
$771,311
$771.3K
Market Conditions
NOI Build-Up for 5,247 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
$110.2K $21.00/SF
− Vacancy
−$17.6K −$3.36/SF
EGI
$92.6K $17.64/SF
− OpEx
−$23.1K −$4.41/SF
NOI
$69.4K $13.23/SF
Area
Roane County, TN
Vacancy
16.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,388,360
Cap Rate 7%
$991,686
Cap Rate 9%
$771,311
Alternative Uses
Best Use
Office B
$991.7K
$867.7K – $1.16M
NOI $69,418 @ 7.0% cap · market cap 5.78%
Second Best
Healthcare Medical
$953.6K
$834.4K – $1.11M
NOI $66,754 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $90,970 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37840, TN
9,330
Population
4,189
Households
2.2
Avg Household Size
44
Median Age
16%
College-Educated
87%
High-School Grad
80.7 sq mi
ZIP Area
116
Density / Sq Mi
$60,064
Median Household Income
$40,870
Median Earnings
$630
Median Rent
$185,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this medical office space located?
The property is located at 1030 Knoxville Hwy Oliver Springs, TN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Well‑equipped medical office space with **6 exam rooms, lab, and X‑ray room**, ready for immediate clinical operations.; Adaptable layout suitable for various healthcare or professional uses (dental, legal, financial, etc.).; Potential for multi‑practice occupancy or conversion to other professional services with an additional suite.
