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    Property profile & analytics

    1216 Broadway St Lenoir City, TN 37771-2607

    • Commercial real estate
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    $285,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-2509800
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Mike's Auto Repair / Auto Repair Shop

    Property Details for 1216 Broadway St

    Lot size
    0.13 lot acres
    Zone code
    C-3
    Property type
    Commercial real estate
    APN
    053026B E 00900
    APU
    053026BE00900

    Description

    This turnkey business opportunity presents a well-established auto repair shop located at 1216 W Broadway St, Lenoir City, TN 37771. The property boasts a 2,075 square foot building situated on a level lot encompassing 20,614 square feet (four city lots) with over 175 feet of road frontage on Highway 11/W Broadway St. The building features four work bays, an office, and 1.5 bathrooms. Included in the sale are an air compressor, auto lifts, and standard shop tools. The business has operated successfully for over 20 years. While personal hand tools, scanners, a brake lathe, and air conditioning equipment are not included, the existing infrastructure provides a solid foundation for a new owner to seamlessly continue operations. The property is zoned C3 and is offered at $550,000, representing a price per square foot of $265.06. This represents a unique opportunity to acquire a profitable, established business with significant road frontage in a desirable location. The sale is an owner/user investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lenoir City
    County
    Loudon
    State
    Tennessee
    Longitude
    -84.2796
    Latitude
    35.7819
    CBSA code
    28940
    CBSA name
    KNOXVILLE, TN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $7,480
    $720
    $8,200
    -
    $18,700
    $1,800
    $20,500

    Comparable in this City

    • Value Estimation
      $295,000
      0.17 Acres

      Broadway

      COMMERCIAL (GENERAL) • 0.17 Acres
      Broadway, Lenoir City, TN 37771
      View Details
    • Value Estimation
      $270,000
      5,400 SF

      Hwy 70th W

      COMMERCIAL (GENERAL) • 5,400 SF
      Hwy 70th W, Lenoir City, TN 37771
      View Details
    • Value Estimation
      $255,000
      1,248 SF

      216 Bank St

      COMMERCIAL (GENERAL) • 1,248 SF
      216 Bank St, Lenoir City, TN 37771-2935
      View Details
    • Value Estimation
      $295,000
      6,975 SF

      804 Hwy 321st N

      COMMERCIAL (GENERAL) • 6,975 SF
      804 Hwy 321st N, Lenoir City, TN 37771-6688
      View Details
    • Value Estimation
      $5,625,000
      6,677 SF

      956 Hwy 321st N

      COMMERCIAL (GENERAL) • 6,677 SF
      956 Hwy 321st N, Lenoir City, TN 37771-6424
      View Details
    • Value Estimation
      $240,000
      8,000 SF

      5168 Hwy 321st N

      COMMERCIAL (GENERAL) • 8,000 SF
      5168 Hwy 321st N, Lenoir City, TN 37771-7537
      View Details

    Similar Nearby for Sale

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      Lenoir City Land For Sale

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    • $285,000
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      Unrestricted Land in Lenoir City

      Three unrestricted acres perfect for building a dream home.
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    • $600,000
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      Lenoir City Office Investment Opportunity

      Recently renovated office space occupied by long-term tenants.
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    • $1,625,000
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      Commercial Land Near Interstate 40

      5 acres of commercial land near Interstate 40 and Highway 321.
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    • $325,000
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      5-Acre Lot in Gated Community

      Private 5-acre lot in a convenient, gated community.
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    Similar Nearby for Lease

    • $30 SF/Yr
      8,300 SF

      New Retail Center on Highway

      New retail center with high visibility and drive-thru potential.
      780 S 321, Lenoir City, TN 37771
      View Details
    • $15 SF/Yr
      12,000 SF

      Versatile Property with Interstate Visibility

      Two buildings totaling 12,000 SF with outdoor storage.
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    • $9 SF/Yr
      40,000 SF

      New Construction Warehouse with Visibility

      New construction warehouse with I-40 visibility, 25 minutes from Knoxville.
      Buttermilk Rd, Lenoir City, TN 37771
      View Details
    • $18 SF/Yr
      38,000 SF

      Flex Office/Warehouse Space Available

      Flex office/warehouse space with lock off warehouse and quick access.
      501 Adesa Blvd, Lenoir City, TN 37771
      View Details
    • $18 SF/Yr
      58,124 SF

      Spring Cress Office Park: Lenoir City, TN

      Class A Medical Office Space Available
      501 Adesa Blvd, Lenoir City, TN 37771
      View Details
    • $9 SF/Yr
      431,378 SF

      Knoxville Logistics Center: 431,378 SF

      Class A industrial space, ideal for distribution.
      128 Pawnook Farm Rd, Lenoir City, TN 37771
      View Details
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    1216 Broadway St
    Lenoir City, TN 37771-2607
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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