Office-Configured Flex
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For Sale
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3429 Regal Dr, Alcoa, TN 37701
Office improvements include private offices, training areas, support amenities, and a roll-up door.
Property Size56,604 SF
Price / SF$105
Days on Market7
Property Features for 3429 Regal Dr
General Information
Standard status
Active
Size
56,604 SF
Class
B
Total Parking Spaces
205
Elevators
Yes
Property subtype
Office, Industrial
Zoning
E
Amenities
Executive Conference Room
Training Rooms
Break Rooms
Fitness Center
Building Details
Year Built
1997
Buildings
1
Stories
2
Units
1
Building Size
56,604 SF
Listing Agency:
SVN | Wood Properties
(865) 637-7777
Listed By:
George Brown · License #TN 318140
Source:
Crexi
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 11:49AM
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 | Wood Properties
Investment Insights
Based on property information with market context.
This 56,604-square-foot flex property in Alcoa includes an office-oriented interior with 22 private offices, an executive conference room, two training rooms, and two break rooms. Additional improvements include a fitness center, elevator, backup generator, and an 8'x20' roll-up door. Constructed in 1997, the property is zoned E and is positioned for office or flex redevelopment.
The site is located at 3429 Regal Drive, within 1 mile of McGhee Tyson Airport. Knoxville and Maryville are identified as nearby markets, and the property provides 205 parking spaces. The combination of office infrastructure, building systems, parking, and loading access supports continued evaluation for office or flex-oriented use.
The site is located at 3429 Regal Drive, within 1 mile of McGhee Tyson Airport. Knoxville and Maryville are identified as nearby markets, and the property provides 205 parking spaces. The combination of office infrastructure, building systems, parking, and loading access supports continued evaluation for office or flex-oriented use.
Key Highlights
- 56,604 SF office or flex redevelopment property
- 22 private offices with an executive conference room
- Two training rooms and two break 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
Current Use
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
Balanced
Demand for This Use
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?
Flex space - Office improvements include private offices, training areas, support amenities, and a roll-up door.
Where is this flex space 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; 22 private offices with an executive conference room; Two training rooms and two break rooms
