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    11 Andrew Johnson Hwy Greeneville, TN 37745

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    11 Andrew Johnson Hwy Greeneville, TN 37745

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    • Lifestyle centers
    • 43,560 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 11 Andrew Johnson Hwy

    Year built
    1900
    Property size
    43,560 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 43,560 square foot vacant retail lot presents a unique investment opportunity in Greeneville, Tennessee. Located on the southbound lane of E Andrew Johnson Hwy 11-E, this one-acre property boasts a prime location directly across from the future Greene Valley Developmental Center. Greene County's recent acquisition and planned development of the former Greene Valley Developmental Center promises significant future growth and increased traffic in the immediate vicinity, making this a highly attractive location for a retail business. The property features 43,124 square feet of land with A-1 zoning, offering considerable flexibility for development. Built in 1900, this property is currently vacant, providing a blank canvas for a new retail venture. The asking price is $165,000, translating to $3.79 per square foot. The high traffic count on this major thoroughfare ensures excellent visibility and accessibility for any business. This is a rare chance to secure a prominent location in a rapidly developing area. Don't miss this opportunity to capitalize on the potential of this prime retail property. The property's APN is 088F B 001.00. The property is zoned A-1. The lot size is 43,124 square feet. There are no existing buildings or gas pumps on the site. The property is currently vacant.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Greeneville
    County
    Greene
    State
    Tennessee
    Longitude
    -82.8224
    Latitude
    36.1786

    Comparable in this City

    • Value Estimation
      $1,830,000
      39,800 SF

      1570 Andrew Johnson Hwy

      DEPARTMENT STORE • 39,800 SF
      1570 Andrew Johnson Hwy, Greeneville, TN 37745-4273
      View Details
    • Value Estimation
      $3,605,000
      32,265 SF

      825 Andrew Johnson Hwy

      DEPARTMENT STORE • 32,265 SF
      825 Andrew Johnson Hwy, Greeneville, TN 37745
      View Details
    • Value Estimation
      $3,055,000
      69,616 SF

      839 Tusculum Blvd

      DEPARTMENT STORE • 69,616 SF
      839 Tusculum Blvd, Greeneville, TN 37745-4001
      View Details
    • Value Estimation
      $2,550,000
      22,774 SF

      Tusculum Blvd

      DEPARTMENT STORE • 22,774 SF
      Tusculum Blvd, Greeneville, TN 37745
      View Details
    • Value Estimation by Request
      0.57 Acres

      3509 Andrew Johnson Hwy

      Restaurants • 3,500 SF
      3509 Andrew Johnson Hwy, Greeneville, TN 37745
      View Details
    • Value Estimation by Request
      1,568 SF

      35 Kidwell School Rd

      AUTO REPAIR, GARAGE • 1,568 SF
      35 Kidwell School Rd, Greeneville, TN 37745
      View Details

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    Similar Nearby for Lease

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      Downtown Greeneville Retail Space Available

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    Greeneville, TN 37745
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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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