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    120 Hospital Dr Jefferson City, TN 37760

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    For Lease
    Contact for pricing

    Class A medical suites, Jefferson City, TN

    Lot size:
    51,072 SF

    Property Features for 120 Hospital Dr

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    51,072 SF
    Class
    A
    Total Rate
    85120

    Building Details

    Year Built
    2001

    Spaces For Lease

    at 120 Hospital Dr, Jefferson City, TN 37760 Contact us
    Unit Suite 110

    $20 /Mo

    Size
    3,630 SF
    Contact us
    Unit Suite 230

    $20 /Mo

    Size
    1,581 SF
    Contact us
    Unit Suite 240

    $20 /Mo

    Size
    2,203 SF
    Contact us
    Unit Suite 130

    $20 /Mo

    Size
    4,077 SF
    Contact us
    Unit Suite G40

    $20 /Mo

    Size
    2,419 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Jay Cobble
    Jay Cobble

    Listing Agency: Providence Commercial Real Estate Listing Agent: Jay Cobble

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Jefferson Commons, located at 120 Hospital Dr, Jefferson City, TN 37760, offers exceptional medical office space within a Class A building constructed in 2001. This 51,072 square foot building boasts a prime location directly attached to Jefferson Memorial Hospital, providing unparalleled convenience and accessibility for medical professionals. The property features multiple tenancies, with several immediately available suites ranging from 1,581 to 4,077 contiguous square feet. A total of 13,730 square feet is currently vacant, offering significant opportunities for expansion or relocation. The building's strategic location serves the Jefferson City and Lakeway communities, and is within easy driving distance of Knoxville, ensuring a strong patient base and convenient access for staff. Previous occupants included various medical practices, meaning the spaces are move-in ready or require only minor upgrades. This presents a unique opportunity to establish or expand a medical practice in a thriving, well-established medical environment. Jefferson County location ensures access to a robust healthcare infrastructure and a strong local economy. The building's design and amenities cater specifically to the needs of medical professionals, making it an ideal location for a variety of medical specialties.
    Property Profile Location Intelligence

    Current Use by Public Records

    Jeffrey Lawhon, MD Medical Clinic Tennova General Surgery ... Medical Clinic Curtis S. Gaylord, ... Physician Cameron J. Sears, ... Physician Penny Knight, MD Physician

    Suggested Use

    Auto Repair Shop Skin Care Clinic Food Market Grocery & Convenience Store Car Rental Facility Veterinary Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jefferson City
    County
    Jefferson
    State
    Tennessee
    Longitude
    -83.5190647
    Latitude
    36.1065446

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      Medical Office Space in Jefferson

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    FAQs

    What type of property is this?
    Medical office - Class A medical suites, Jefferson City, TN
    Where is this medical office located?
    The property is located at 120 Hospital Dr Jefferson City, TN.
    What is the lease rate?
    The lease rate is $20-$20 SF/Yr.
    What are key features of this property?
    This property features: Class A medical office building.; Directly connected to Jefferson Memorial Hospital.; Move-in ready second-generation suites available.
    (865) 777-0202 Call to check price and availability
    Request Owner's contact information
    120 Hospital Dr Jefferson City, TN 37760
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    Jefferson City, TN 37760
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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
    120 Hospital Dr Jefferson City, TN 37760
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jay Cobble
    Jay Cobble
    Real Estate License ID: 301271
    (865) 777-0202 (865) 207-9711
    Learn more
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