Office Building with Private
For Sale
Contact for pricing
3993 Midland Ave, Knoxville, TN 37919
Office-zoned property with flexible work areas, a kitchen, updated HVAC, and rear access for additional parking.
Property Size1,440 SF
Price / SF$246.53
Days on Market9
Property Features for 3993 Midland Ave
General Information
Standard status
Active
Size
1,440 SF
Property subtype
OFFICE
Zoning
Office
Listing Agency:
CBRE, Inc.
(865) 256-2719
Listed By:
John M Adams III, CCIM SIOR
(865) 256-2719
Source:
Moodyscre
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 10 at 11:15AM
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 CBRE, Inc.
Investment Insights
Based on property information with market context.
This 1,440 SF office building is configured with 3 private offices, a spacious open work area, a full kitchen, and 2 full bathrooms. The property is zoned Office and includes a newer HVAC unit, supporting a practical layout for professional operations.
Access to the backyard is provided through an easement across the neighboring property, creating additional parking capacity behind the building. The property is located on Midland Ave between Kingston Pike and Lyons View in Knoxville.
Access to the backyard is provided through an easement across the neighboring property, creating additional parking capacity behind the building. The property is located on Midland Ave between Kingston Pike and Lyons View in Knoxville.
Key Highlights
- 1,440 SF office building zoned Office
- 3 private offices plus a large open work area
- Full kitchen and 2 full bathrooms
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
$19,051
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
5.37%
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%
$381,020
$381.0K
Cap Rate 7%
$272,157
$272.2K
Cap Rate 9%
$211,678
$211.7K
Market Conditions
NOI Build-Up for 1,440 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
$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 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%
$381,020
Cap Rate 7%
$272,157
Cap Rate 9%
$211,678
Alternative Uses
Best Use
Office B
$272.2K
$238.1K – $317.5K
NOI $19,051 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$356.7K
$312.1K – $416.1K
NOI $24,966 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,111
Businesses Nearby
Explore this area
Business Placement
Demographics for 37919, TN
30,822
Population
15,499
Households
2
Avg Household Size
38
Median Age
58%
College-Educated
95%
High-School Grad
19.1 sq mi
ZIP Area
1,614
Density / Sq Mi
$71,863
Median Household Income
$44,968
Median Earnings
$1,247
Median Rent
$453,000
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 - Office-zoned property with flexible work areas, a kitchen, updated HVAC, and rear access for additional parking.
Where is this office building located?
The property is located at 3993 Midland Ave Knoxville, TN.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 1,440 SF office building zoned Office; 3 private offices plus a large open work area; Full kitchen and 2 full bathrooms
