Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    305 Westfield Rd Knoxville, TN 37919

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Vacant office-zoned lot in the heart of West Knoxville.

    Lot size:
    0.37 Acres

    Property Features for 305 Westfield Rd

    General Information

    Lot size
    0.37 Acres

    We can help!

    Listing Contact
    John M Adams Iii, Ccim Sior
    Source: Moodyscre

    Listing Agent: John M Adams Iii, Ccim Sior

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Vacant Office Zoned Lot

    This vacant lot, zoned for office use, presents a development opportunity in West Knoxville, situated off Papermill Drive and Kingston Pike. The location offers accessibility, visibility, and proximity to retail and professional hubs. The surrounding area includes established office buildings and businesses, making this parcel suitable for medical, professional, or administrative office development. The site provides access to I-40/I-75 and is located near Whole Foods, REI, Papermill Plaza, restaurants, banks, and hotels. A portion of the property is in a flood hazard area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Joanna Williams Physician Moses Holly Physician Karen Josvanger Physician Paulauskas Doile MD Physician Kelsie Mcglothin Marriage Or Relationship Counselor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -84.01402
    Latitude
    35.933887

    Nearby Similar for Sale

    • $415,000
      7,374 SF

      Knoxville Redevelopment Opportunity

      Two-story commercial building in a rapidly growing community.
      315 Ogle Ave, Knoxville, TN 37920
      View Details
    • Contact for pricing
      133 SF

      Knoxville Commercial Offices For Sale

      Multiple office spaces available in Knoxville, TN, with various sizes.
      1200 Mccalla Ave, Knoxville, TN 37915
      View Details
    • $500,000
      1,264 SF

      Knoxville Multifamily Property with Updates

      Updated multifamily property near Suttree Landing Park and Urban Wilderness.
      825 Gertrude Ave, Knoxville, TN 37920
      View Details
    • $580,000
      2,688 SF

      Knoxville Turnkey Investment Opportunity

      Four-unit property in a prime location with updated systems.
      7003 Old Clinton Pike, Knoxville, TN 37921
      View Details
    • $999,950
      Pending

      Knoxville Multifamily Investment Opportunity

      Seven-unit multifamily property in North Knoxville, ideal for owner-operator.
      311 Silver Pl, Knoxville, TN 37917
      View Details
    • New
      $435,000
      2,682 SF

      Updated Triplex in Knoxville

      Three-unit property with strong rental history and convenient location.
      2703 Bridalwood Dr, Knoxville, TN 37917
      View Details
    • $795,000
      5,608 SF

      Charming Historic Fourth & Gill 4-Plex

      Spacious 4-unit property with original charm in historic neighborhood.
      903 Luttrell St, Knoxville, TN 37917
      View Details
    • $300,000
      1,662 SF

      East Knoxville Income-Producing Duplex

      Income-producing duplex near Downtown Knoxville with renovation upside.
      927 Biddle St, Knoxville, TN 37914
      View Details
    • New
      $339,950
      Pending

      Renovated Duplex Near Downtown Knoxville

      Fully renovated duplex near downtown and UT, ideal for investors.
      2642 Summit Ave, Knoxville, TN 37917
      View Details
    • $399,900
      3,330 SF

      Knoxville Multifamily Investment Opportunity

      2.86 acres with 3 manufactured homes, expansion potential.
      6435 Hubert Bean Rd, Knoxville, TN 37918
      View Details
    • $315,000
      936 SF

      Knoxville Duplex in South Knox

      One-level duplex in South Knoxville, minutes from downtown.
      2512 Legion Dr, Knoxville, TN 37920
      View Details
    • $549,900
      2,000 SF

      Vintage Four-Unit Apartment Building

      Charming apartment building in historic Park City neighborhood.
      2359 E 5Th Ave, Knoxville, TN 37917
      View Details

    FAQs

    What type of property is this?
    Land - Vacant office-zoned lot in the heart of West Knoxville.
    Where is this land located?
    The property is located at 305 Westfield Rd Knoxville, TN.
    What are key features of this property?
    This property features: - Prime location in West Knoxville, off Papermill Drive and Kingston Pike.; - Zoned for office use (medical, professional, administrative).; - Excellent accessibility and visibility.
    (865) 256-2719 Call to check price and availability
    Request Owner's contact information
    305 Westfield Rd Knoxville, TN 37919
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    305 Westfield Rd
    Knoxville, TN 37919
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    305 Westfield Rd Knoxville, TN 37919
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    John M Adams Iii, Ccim Sior
    (865) 256-2719 (865) 498-6500
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!