Single-Tenant Medical Office
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For Sale
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1702 East Lamar Alexander Parkway, Maryville, TN 37801
Net-leased medical office occupied by Prisma Health along an established healthcare corridor.
Property Size2,740 SF
Lot Size0.56 Acres
Price / SF$282.67
Days on Market5
Property Features for 1702 East Lamar Alexander Parkway
General Information
Standard status
Active
Size
2,740 SF
Lot size
0.56 Acres
Property subtype
Office
Additional Details
Cap Rate
9.75%
Building Details
Building Size
2,740 SF
Tenancy
Single
Listing Agency:
Marcus & Millichap - Orlando
Listed By:
Christopher Biuso · License #Fl SL3424071
(407) 557-3841
Source:
Crexi
Added: Sep 8
Changed: Sep 11
Last Checked: Sep 12 at 3:58AM
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 Marcus & Millichap - Orlando
Investment Insights
Based on property information with market context.
This 2,740-square-foot medical office building is configured for a single tenant and leased on a net basis to Prisma Health. The property occupies 0.56 acres and serves as part of the medical-services environment surrounding Blount Memorial Hospital.
Located at 1702 East Lamar Alexander Parkway, the building fronts a corridor reporting 22,900+ VPD. Prisma Health carries an A+ S&P credit rating and expanded into Tennessee through its December 2024 integration of Blount Memorial Hospital. That integration includes a minimum 10-year commitment to essential services and $275 million in planned capital investment across East Tennessee. The property is also identified with a 9.75% cap rate.
Located at 1702 East Lamar Alexander Parkway, the building fronts a corridor reporting 22,900+ VPD. Prisma Health carries an A+ S&P credit rating and expanded into Tennessee through its December 2024 integration of Blount Memorial Hospital. That integration includes a minimum 10-year commitment to essential services and $275 million in planned capital investment across East Tennessee. The property is also identified with a 9.75% cap rate.
Key Highlights
- 2,740‑square‑foot single‑tenant medical office building
- Net lease to Prisma Health, rated A+ by S&P
- 0.56‑acre property at 1702 East Lamar Alexander Parkway
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
$49,320
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
6.37%
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%
$986,400
$986.4K
Cap Rate 7%
$704,571
$704.6K
Cap Rate 9%
$548,000
$548.0K
Market Conditions
NOI Build-Up for 2,740 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
$82.2K $30.00/SF
− Vacancy
−$16.4K −$6.00/SF
EGI
$65.8K $24.00/SF
− OpEx
−$16.4K −$6.00/SF
NOI
$49.3K $18.00/SF
Area
Blount County, TN
Vacancy
20.00%
Lease Rate
$30.00 /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%
$986,400
Cap Rate 7%
$704,571
Cap Rate 9%
$548,000
Alternative Uses
Best Use
Office B
$704.6K
$616.5K – $822.0K
NOI $49,320 @ 7.0% cap · market cap 6.37%
Second Best
Healthcare Medical
$441.4K
$386.2K – $515.0K
NOI $30,899 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.10M
$965.2K – $1.29M
NOI $77,218 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37801, TN
28,822
Population
12,254
Households
2.4
Avg Household Size
42
Median Age
25%
College-Educated
89%
High-School Grad
69.4 sq mi
ZIP Area
415
Density / Sq Mi
$70,814
Median Household Income
$45,296
Median Earnings
$1,061
Median Rent
$268,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Net-leased medical office occupied by Prisma Health along an established healthcare corridor.
Where is this medical office space located?
The property is located at 1702 East Lamar Alexander Parkway Maryville, TN.
What is the asking price?
The asking price for this property is $774,507.
What are key features of this property?
This property features: 2,740‑square‑foot single‑tenant medical office building; Net lease to Prisma Health, rated A+ by S&P; 0.56‑acre property at 1702 East Lamar Alexander Parkway
