Office-Flex Redevelopment
For Sale
Contact for pricing
3429 Regal Dr, Alcoa, TN 37701
Large office with main and lower levels, featuring private offices, conference and training rooms, plus an 8' x 20' rollup door.
Property Size56,604 SF
Price / SF$105
Days on Market188
Property Features for 3429 Regal Dr
General Information
Standard status
Active
Size
56,604 SF
Property subtype
OFFICE
Listing Agency:
SVN I Wood Properties
(865) 936-9999
Listed By:
Matthew Strother · License #363515
(865) 309-6272
Source:
Moodyscre
Added: Mar 2
Changed: Aug 13
Last Checked: Jul 22 at 2:25PM
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 SVN I Wood Properties
Investment Insights
Based on property information with market context.
This 56,604 SF office or flex redevelopment property includes approximately 35,000 SF on the main level and 21,000 SF on the lower level. The office layout provides 22 private offices, an executive conference room, two training rooms, and two break rooms. Additional amenities include a fitness center, an elevator, and a backup generator. The building also features an 8' x 20' rollup door, supporting flexible office or light industrial concepts.
The property is located at 3429 Regal Drive in Alcoa, Tennessee, with access to Knoxville and Maryville. It is described as being within 1 mile of McGhee Tyson Airport.
With substantial on-site parking for up to 205 vehicles, this facility is well-suited for users or redevelopment plans seeking a combination office and flex/light industrial configuration.
The property is located at 3429 Regal Drive in Alcoa, Tennessee, with access to Knoxville and Maryville. It is described as being within 1 mile of McGhee Tyson Airport.
With substantial on-site parking for up to 205 vehicles, this facility is well-suited for users or redevelopment plans seeking a combination office and flex/light industrial configuration.
Key Highlights
- 56,604 SF office or flex redevelopment property at 3429 Regal Drive, Alcoa, TN
- 35,000 SF main level plus 21,000 SF lower level
- Office layout includes 22 private offices, executive conference room, and two training rooms
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
$485,574
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
8.09%
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%
$9,711,480
$9.7M
Cap Rate 7%
$6,936,771
$6.9M
Cap Rate 9%
$5,395,267
$5.4M
Market Conditions
NOI Build-Up for 56,604 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
$794.7K $14.04/SF
− Vacancy
−$47.7K −$0.84/SF
EGI
$747.0K $13.20/SF
− OpEx
−$261.5K −$4.62/SF
NOI
$485.6K $8.58/SF
Area
Blount County, TN
Vacancy
6.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
35.00%
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%
$9,711,480
Cap Rate 7%
$6,936,771
Cap Rate 9%
$5,395,267
Alternative Uses
Best Use
Office B
$14.56M
$12.74M – $16.98M
NOI $1,018,872 @ 7.0% cap · market cap 16.98%
Second Best
Flex RnD
$6.94M
$6.07M – $8.09M
NOI $485,574 @ 7.0% cap · market cap 8.09%
Theoretical Best
Office A
$22.79M
$19.94M – $26.59M
NOI $1,595,200 @ 7.0% cap · market cap 26.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
231
Businesses Nearby
Explore this area
Business Placement
Demographics for 37701, TN
8,798
Population
4,485
Households
2
Avg Household Size
39
Median Age
34%
College-Educated
92%
High-School Grad
10.7 sq mi
ZIP Area
822
Density / Sq Mi
$63,202
Median Household Income
$39,064
Median Earnings
$1,101
Median Rent
$239,600
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 building - Large office with main and lower levels, featuring private offices, conference and training rooms, plus an 8' x 20' rollup door.
Where is this office building located?
The property is located at 3429 Regal Dr Alcoa, TN.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: 56,604 SF office or flex redevelopment property at 3429 Regal Drive, Alcoa, TN; 35,000 SF main level plus 21,000 SF lower level; Office layout includes 22 private offices, executive conference room, and two training rooms
