Listing Agency: Wallace Commercial Show Phone

Listed By: Christa Rosenberg · License #353972 Show Phone

Source: Moodyscre

Added: Aug 12 Changed: Oct 15 Last Checked: Oct 16 at 11:18AM

Report an Issue

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 Wallace Commercial

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 1,440-square-foot medical office at 3708-3710 Neal Dr features a recently renovated interior with three+ exam rooms, sinks in each exam room, and a spacious lobby. The layout also includes an ADA-compliant bathroom along with office and break room options. Stone pillars at the street side provide a defined location for property signage.

The property encompasses 0.88 acres (38,333 SF), including .5 acres of potentially buildable open land. OB zoning allows offices, clinics, child care, recreational uses, business services, and uses permitted or regulated within the RB General Residential Zone, subject to a height restriction.

Key Highlights

• 1,440 SF renovated medical office
• Three+ exam rooms with sinks in every room
• Spacious lobby and ADA‑compliant bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,051

Cap Rate

3.81%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$381,020 $381.0K

Cap Rate 7%

$272,157 $272.2K

Cap Rate 9%

$211,678 $211.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,440 SF

Gross rent

$30.2K $21.00/SF

− Vacancy

−$4.8K −$3.36/SF

EGI

$25.4K $17.64/SF

− OpEx

−$6.4K −$4.41/SF

NOI

$19.1K $13.23/SF

Area

Knoxville, TN

Vacancy

16.00%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$381,020

Cap Rate 7%

$272,157

Cap Rate 9%

$211,678

Alternative Uses

Best Use

Office B

$272.2K

$238.1K – $317.5K (±1% cap)

NOI $19,051 @ 7.0% cap · market cap 3.81%

Second Best

Healthcare Medical

$261.7K

$229.0K – $305.3K (±1% cap)

NOI $18,320 @ 7.0% cap · market cap 3.66%

Theoretical Best

Office A

$356.7K

$312.1K – $416.1K (±1% cap)

NOI $24,966 @ 7.0% cap · market cap 4.99%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Real Estate Agency Law Firm Big Box & Wholesale Store Building Supply Electrical Service Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

473

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 37918, TN

46,245

Population

20,228

Households

2.3

Avg Household Size

40

Median Age

31%

College-Educated

93%

High-School Grad

34.6 sq mi

ZIP Area

1,337

Density / Sq Mi

$69,311

Median Household Income

$41,882

Median Earnings

$1,102

Median Rent

$237,500

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Similar For Sale Nearby

See more

Former Animal Clinic on Corner

9229 Middlebrook Pike, Knoxville, TN 37931

$635,000

1,987 SF

View details

Former Veterinary Office For Sale

7426 Maynardville Pike, Knoxville, TN 37938

$625,000

View details

Medical Office Suite

122 Lynnwood Dr, Knoxville, TN 37918

$800,000

View details

Medical Office Center

5300 Clinton Plaza Drive, Knoxville, TN 37912

Contact for pricing

2,820 SF

View details

Medical Office Condominium

320 Park 40 N Boulevard, Knoxville, TN 37923

Contact for pricing

4,707 SF

View details

Knoxville Medical Office Space Available

9051 Executive Park Drive, Knoxville, TN 37923

Contact for pricing

View details

Retail Space with Two Bathrooms

114 Cedar Ln, Knoxville, TN 37912

$479,000

1,485 SF

View details

Office Unit with Shared Conference Room

10420 Jackson Oaks Way #103, Knoxville, TN 37922

$499,100

1,610 SF

View details

Restaurant with Pylon Sign

5307 North Middlebrook Pike, Knoxville, TN 37921

$425,000

View details

Furnished Duplex with Rental Unit

2635 Gaston Ave, Knoxville, TN 37917

$299,900

1,528 SF

View details

Open-Plan Retail Suite

1645 Downtown West Boulevard ste 10, Knoxville, TN 37919

$355,000

1,271 SF

View details

Duplex Property With Guest Home

1422 Tipton Station Rd, Knoxville, TN 37920

$455,000

1,859 SF

View details

Similar Off Market Nearby

• The Gentle Doctor of East Tennessee — 3524 Neal Dr, Knoxville, TN 37918
• Halls Animal Hospital — 7126 Maynardville Pike, Knoxville, TN 37918

Frequently Asked Questions

What type of property is this?

Medical Office Space - Clinic layout includes exam rooms, a spacious lobby, ADA-compliant bathroom, and flexible office and break room areas.

Where is this medical office space located?

The property is located at 3708-3710 Neal Dr Knoxville, TN.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: 1,440 SF renovated medical office; Three+ exam rooms with sinks in every room; Spacious lobby and ADA‑compliant bathroom