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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1104 Merchant Dr Knoxville, TN 37912

    • Office Properties & Spaces
    • 8,444 SF
    For Lease
    View listing
    $11 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Brackett and Strunk, PLLC / Law Firm / Financial Advisor
    • Dr. Carl J. Klein Jr, MD / Pediatrician / Physician
    • Aardvark Family Services / Social Service Agency / Community Center
    • The Hub Pro Studio by GalFunction / Business Networking Company
    • Brackett & Strunk / Law Firm

    Property Details for 1104 Merchant Dr

    Property size
    8,444 SF
    Property type
    Office Properties & Spaces
    Property subtype
    Office buildings

    Description

    This exceptional Class B office building, located at 1104 Merchant Drive in Knoxville, Tennessee, presents a unique leasing opportunity. Situated on a substantial 36,116 square foot lot, the property boasts a total of 8,444 square feet of office space within a single suite. Currently, 2,098 square feet are immediately available for lease, ideal for an executive office or a small business seeking a prominent location. The building is zoned O and its address is conveniently located near the intersection of Merchant Drive and Clinton Highway in Knox County's North submarket. The property's Asset Property Number (APN) is 068NH007. This is a multi-tenant building, offering the potential for expansion within the building should your needs grow. The property's strategic location in the North submarket of Knoxville provides easy access to major transportation routes and amenities. This is an excellent opportunity to secure high-quality office space in a thriving area of Knoxville. The property offers a blend of functionality and accessibility, making it an attractive option for businesses seeking a well-established presence in the city. Inquire today to learn more about this exceptional leasing opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -83.9827
    Latitude
    36.0029

    Comparable in this City

    • Value Estimation by Request
      520,978 SF

      305 Callahan Dr

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    • Value Estimation by Request
      8,444 SF

      1104 Merchant Dr

      Office Properties & Spaces • 8,444 SF
      1104 Merchant Dr, Knoxville, TN 37912
      View Details
    • Value Estimation by Request
      1.16 Acres

      1110 Callahan Dr

      Individual retail properties • 1.16 Acres
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      5104 Central Avenue Pike

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      0.51 Acres

      Farris Dr

      PROFESSIONAL BUILDING • 0.51 Acres
      Farris Dr, Knoxville, TN 37912
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    • Value Estimation by Request
      0.95 Acres

      6511 Clinton Hwy

      PROFESSIONAL BUILDING • 0.95 Acres
      6511 Clinton Hwy, Knoxville, TN 37912-1115
      View Details

    Similar Nearby for Sale

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      Fully-Leased Office Building For Sale

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    Similar Nearby for Lease

    • $11 SF/Yr
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      Prime Knoxville Executive Office Space

      8,444 SF Office Building, 2,098 SF Available
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      Retail Space on Clinton Highway

      Retail space with high visibility and traffic count.
      4313-4315 Clinton Hwy, Knoxville, TN 37912
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    Knoxville, TN 37912
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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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