Six-Office Professional
New
For Sale
$864,270
105-106 Legacy View Way, Knoxville, TN 37918
The layout includes a reception area, conference room, kitchen, storage, and two sets of restrooms.
Property Size2,619 SF
Price / SF$330
Days on Market2
Property Features for 105-106 Legacy View Way
General Information
Standard status
Active
Size
2,619 SF
Class
A
Property subtype
Office
Building Details
Building Size
2,619 SF
Year Built
2008
Listing Agency:
NAI Koella | RM Moore
Listed By:
Michelle Gibbs · License #249165
(865) 228-4264
Source:
Koellamoore
Added: Sep 24
Last Checked: Sep 24 at 2:35PM
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 NAI Koella | RM Moore
Investment Insights
Based on property information with market context.
This 2,619-square-foot office suite contains six offices, a large conference room, reception and lobby space, two sets of restrooms, a kitchen, and storage. The building was completed in 2008.
The suite is positioned at the principal entry to Legacy View Office Development in Knoxville. Parking is available for employees and clients.
The suite is positioned at the principal entry to Legacy View Office Development in Knoxville. Parking is available for employees and clients.
Key Highlights
- 2,619 square feet of office space
- Six offices plus a large conference room
- Reception and lobby, kitchen, storage, and two sets of restrooms
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
$34,649
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
4.01%
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%
$692,980
$693.0K
Cap Rate 7%
$494,986
$495.0K
Cap Rate 9%
$384,989
$385.0K
Market Conditions
NOI Build-Up for 2,619 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
$55.0K $21.00/SF
− Vacancy
−$8.8K −$3.36/SF
EGI
$46.2K $17.64/SF
− OpEx
−$11.5K −$4.41/SF
NOI
$34.6K $13.23/SF
Area
Knoxville, 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%
$692,980
Cap Rate 7%
$494,986
Cap Rate 9%
$384,989
Alternative Uses
Best Use
Office B
$495.0K
$433.1K – $577.5K
NOI $34,649 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$648.7K
$567.6K – $756.8K
NOI $45,407 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Explore this area
Business Placement
Demographics for 37918, TN
46,245
Population
20,228
Households
2.3
Avg Household Size
40
Median Age
31%
College-Educated
93%
High-School Grad
34.6 sq mi
ZIP Area
1,337
Density / Sq Mi
$69,311
Median Household Income
$41,882
Median Earnings
$1,102
Median Rent
$237,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - The layout includes a reception area, conference room, kitchen, storage, and two sets of restrooms.
Where is this office units located?
The property is located at 105-106 Legacy View Way Knoxville, TN.
What is the asking price?
The asking price for this property is $864,270.
What are key features of this property?
This property features: 2,619 square feet of office space; Six offices plus a large conference room; Reception and lobby, kitchen, storage, and two sets of restrooms
