Renovated Office
For Sale
Contact for pricing
3415 Hackberry Rd, Knoxville, TN 37931
Flexible CA-zoned commercial building with finished lower-level space, walkout access, and multiple storage improvements.
Property Size2,701 SF
Lot Size1.17 Acres
Price / SF$161.05
Days on Market26
Property Features for 3415 Hackberry Rd
General Information
Standard status
Active
Size
2,701 SF
Lot size
1.17 Acres
Property subtype
OFFICE
Zoning
CA
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Amenities
sunroom
attached garage
detached workshop
storage shed
fenced yard
Building Details
Year Built
1955
Year Renovated
2025
Buildings
3
Stories
2
Construction
frame/brick
Listing Agency:
Greater Impact Realty Knoxville
(865) 800-3544
Listed By:
Lisa McNealy
(480) 544-7606
Source:
Moodyscre
Added: Aug 6
Changed: Aug 29
Last Checked: Aug 30 at 6:15PM
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 Greater Impact Realty Knoxville
Investment Insights
Based on property information with market context.
Renovated in 2025, this office property combines an open main-level plan with a sunroom that can support reception, workspace, or private consultations. The finished lower level has walkout access at grade, several flex rooms, and a separate utility room. Improvements include new cabinets, countertops, flooring, paint, and an updated bathroom; the lower-level bathroom is not ADA compliant.
The property sits on an approximately 1.17-acre level site along Hackberry Rd, accessed from Ball Camp Rd, with convenient connections to Oak Ridge Highway and the Karns/Hardin Valley commercial corridors. The site includes a 2-car attached garage, off-street parking, a detached workshop, a storage shed, and a fenced yard area.
The building has frame-and-brick construction, was originally built in 1955, and is served by central heat pump, ceiling fans, public water, and septic rather than municipal sewer. Zoning is CA (General Business), with office and retail use potential subject to verification of permitted uses with Knox County Zoning.
The property sits on an approximately 1.17-acre level site along Hackberry Rd, accessed from Ball Camp Rd, with convenient connections to Oak Ridge Highway and the Karns/Hardin Valley commercial corridors. The site includes a 2-car attached garage, off-street parking, a detached workshop, a storage shed, and a fenced yard area.
The building has frame-and-brick construction, was originally built in 1955, and is served by central heat pump, ceiling fans, public water, and septic rather than municipal sewer. Zoning is CA (General Business), with office and retail use potential subject to verification of permitted uses with Knox County Zoning.
Key Highlights
- CA (General Business) zoning supports office and retail use potential, subject to Knox County Zoning verification
- Approximately 1.17‑acre level site with 168' x 304' lot dimensions
- Renovated in 2025 with new cabinets, countertops, flooring, paint, and updated bathroom
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
$38,797
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
8.92%
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%
$775,940
$775.9K
Cap Rate 7%
$554,243
$554.2K
Cap Rate 9%
$431,078
$431.1K
Market Conditions
NOI Build-Up for 2,701 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
$58.3K $21.60/SF
− Vacancy
−$2.9K −$1.08/SF
EGI
$55.4K $20.52/SF
− OpEx
−$16.6K −$6.16/SF
NOI
$38.8K $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%
$775,940
Cap Rate 7%
$554,243
Cap Rate 9%
$431,078
Alternative Uses
Best Use
Retail
$554.2K
$485.0K – $646.6K
NOI $38,797 @ 7.0% cap · market cap 8.92%
Second Best
Office B
$510.5K
$446.7K – $595.6K
NOI $35,734 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$669.0K
$585.4K – $780.5K
NOI $46,829 @ 7.0% cap · market cap 10.77%
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
Explore this area
Business Placement
Demographics for 37931, TN
31,358
Population
12,770
Households
2.5
Avg Household Size
38
Median Age
45%
College-Educated
94%
High-School Grad
28.4 sq mi
ZIP Area
1,104
Density / Sq Mi
$91,284
Median Household Income
$52,207
Median Earnings
$1,450
Median Rent
$317,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible CA-zoned commercial building with finished lower-level space, walkout access, and multiple storage improvements.
Where is this office units located?
The property is located at 3415 Hackberry Rd Knoxville, TN.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: CA (General Business) zoning supports office and retail use potential, subject to Knox County Zoning verification; Approximately 1.17‑acre level site with 168' x 304' lot dimensions; Renovated in 2025 with new cabinets, countertops, flooring, paint, and updated bathroom
