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    3321 Governor John Sevier Hwy Knoxville, TN 37920
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    Property profile & analytics

    3321 Governor John Sevier Hwy, Knoxville, TN 37920

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    • Office Spaces
    • 3,287 SF
    • 1.01 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 3321 Governor John Sevier Hwy

    Lot size
    1.01 lot acres
    Property type
    Office Spaces
    Property subtype
    Medical Office Space

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -83.943
    Latitude
    35.8875

    Comparable in this City

    • Value Estimation by Request
      1,112 SF

      3118 Alcoa Hwy

      Medical Office Space
      3118 Alcoa Hwy, Knoxville, TN 37920
      View Details
    • Value Estimation by Request
      14,500 SF

      3105 Alcoa Hwy

      Medical Office Space
      3105 Alcoa Hwy, Knoxville, TN 37920
      View Details
    • Value Estimation
      $655,000
      6,574 SF

      Knoxville, TN 37920

      DENTAL BUILDING
      Knoxville, TN 37920
      View Details
    • Value Estimation
      $620,000
      3,298 SF

      3336 Ss Cir

      MEDICAL BUILDING
      3336 Ss Cir, Knoxville, TN 37920-4799
      View Details
    • Value Estimation
      $12,740,000
      45,802 SF

      2704 Cherokee Farm Way

      MEDICAL BUILDING
      2704 Cherokee Farm Way, Knoxville, TN 37920-3296
      View Details
    • Value Estimation
      $2,440,000
      24,544 SF

      3734 Martin Ml Pike

      MEDICAL BUILDING
      3734 Martin Ml Pike, Knoxville, TN 37920-2453
      View Details

    Similar Nearby for Sale

    • $625,000

      South Knox Flex Property

      Flex property with office and warehouse space in South Knox.
      6308 Chapman Hwy, Knoxville, TN 37920
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      27,000 SF

      Knoxville Office Building For Sale

      26,760 SF office building with flexible owner financing.
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    • $415,000
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      Knoxville Redevelopment Opportunity

      Two-story commercial building in a rapidly growing community.
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    • $119,000
      0.22 Acres

      Land in Sevier Avenue District

      Investment opportunity near downtown Knoxville, zoned RN-2.
      Mccormick St, Knoxville, TN 37920
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    • $275,000
      1,787 SF

      South Knoxville Duplex Opportunity

      Duplex in South Knoxville near Urban Wilderness. Perfect house-hack opportunity.
      1000 Baker Ave, Knoxville, TN 37920
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    • $1,875,000
      24.15 Acres

      Versatile Knoxville Property with Development Potential

      24.15-acre property with industrial facility and multiple income-producing assets.
      1021 E Hendron Chapel Rd, Knoxville, TN 37920
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    Similar Nearby for Lease

    • $15 SF/Yr
      2,415 SF

      Retail Center Space For Lease

      Health and wellness focused retail center with high visibility.
      4512 Chapman Hwy, Knoxville, TN 37920
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    • Contact for pricing

      Retail Space in High-Traffic Area

      Well-maintained retail center with high visibility and ample parking.
      4512 Chapman Hwy, Knoxville, TN 37920
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    • $1,200 /Mo

      Commercial Land in High-Traffic Area

      Land for rent in growing waterfront area with high visibility.
      3106 Chapman Hwy, Knoxville, TN 37920
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    • Contact for pricing
      1,360 SF

      Restaurant or Retail Space Available

      6,000 SF space suitable for restaurant or retail use.
      7417-7433 Chapman Hwy, Knoxville, TN 37920
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    • $1,200 /Mo

      High-Traffic Land for Lease

      Prime commercial land available in a high-growth Knoxville corridor.
      3106 Chapman Hwy, Knoxville, TN 37920
      View Details
    • $2,800 /Mo

      Prime Corner Lot For Rent

      Corner lot at gateway to South Knoxville development, for rent.
      2001 Chapman Hwy, Knoxville, TN 37920
      View Details
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    Knoxville, TN 37920
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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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