Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4028 Papermill Dr Knoxville, TN 37909

    Property Lookup

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

    4028 Papermill Dr Knoxville, TN 37909

    View on Map
    • Office properties & Spaces
    • 36,500 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ink+ Iron Collective / Tattoo & Piercing Shop
    • PaperMill Center / Business Service Center / Corporate Office
    • DancingFlix / Training Center
    • Marble City Ballroom / Training Center
    • 2nd Chance & Recovery / Freight Service / Logistics Company

    Property Details for 4028 Papermill Dr

    Year built
    1981
    Property size
    36,500 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional investment opportunity presents a fully leased, Class B office building situated in the desirable Bearden submarket. The Papermill Center, located at an address intersecting Hollywood Street, comprises a single, one-story building totaling 36,500 square feet. Constructed in 1981, this property boasts a strong tenancy with multiple occupants, resulting in 0 vacant square footage. The zoning designation is I-MU, and the Assessor's Parcel Number (APN) is 107CF 018. Ample parking is available with 110 spaces provided for tenants and visitors. The building's classification as a Traditional Office and Executive Office space caters to a diverse range of business needs. This property represents a stable and attractive investment prospect due to its complete occupancy and prime location within the Bearden area. The building's single-story design offers convenient access and functionality. The property's strong leasing history and current 100% occupancy rate make it an ideal addition to any commercial real estate portfolio. Interested parties should note the property's size and the lack of currently available space. Further details regarding the property's financial performance and lease agreements are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Blount
    State
    Tennessee
    Longitude
    -83.9792
    Latitude
    35.9538

    Comparable in this City

    • Value Estimation
      $1,140,000
      8,034 SF

      801 Weisgarber Rd Ste, Unit 200

      MEDICAL BUILDING • 8,034 SF
      801 Weisgarber Rd Ste, Knoxville, TN 37909-2707
      View Details
    • Value Estimation
      $3,050,000
      15,046 SF

      705 Gate Ln

      MEDICAL BUILDING • 15,046 SF
      705 Gate Ln, Knoxville, TN 37909-3518
      View Details
    • Value Estimation
      $2,660,000
      13,949 SF

      1300 Old Weisgarber Rd

      MEDICAL BUILDING • 13,949 SF
      1300 Old Weisgarber Rd, Knoxville, TN 37909-1291
      View Details
    • Value Estimation
      $1,030,000
      3,964 SF

      4714 Papermill Dr

      MEDICAL BUILDING • 3,964 SF
      4714 Papermill Dr, Knoxville, TN 37909-1972
      View Details
    • Value Estimation
      $930,000
      4,743 SF

      6348 Lonas Spg Dr

      MEDICAL BUILDING • 4,743 SF
      6348 Lonas Spg Dr, Knoxville, TN 37909-2719
      View Details
    • Value Estimation
      $2,505,000
      12,360 SF

      801 Weisgarber Rd

      MEDICAL BUILDING • 12,360 SF
      801 Weisgarber Rd, Knoxville, TN 37909-2706
      View Details

    Similar Nearby for Sale

    • $395,000
      3.59 Acres

      Knoxville Land For Sale

      3.59-acre commercial land suitable for various office or industrial uses.
      1100 Old Weisgarber Rd, Knoxville, TN 37909
      View Details
    • Contact for pricing

      Renovated Warehouse with Covered Loading

      30,614 SF warehouse with renovated office space for sale.
      5836 Casey Dr, Knoxville, TN 37909
      View Details
    • $1,304,600
      4,744 SF

      Turn-Key Medical Office in Knoxville

      4,744 SF medical office in West Knoxville for sale.
      6348 Lonas Knoxville, Knoxville, TN 37909
      View Details
    • $1,400,000
      10,776 SF

      Industrial Office and Warehouse Space

      Two-story industrial property with office and warehouse space for sale.
      3502 Overlook Cir, Knoxville, TN 37909
      View Details
    • $1,050,000

      Prime Land on Weisgarber Road

      Four acres ideal for office development in West Knoxville.
      1122 Old Weisgarber Rd, Knoxville, TN 37909
      View Details
    • Contact for pricing
      Pending

      Residential Land in Knoxville, TN

      Vacant residential lot available in Knoxville, Tennessee.
      4518 Lonas Dr, Knoxville, TN 37909
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Class A Office Complex

      83,173 SF office complex with room to expand.
      1225 Weisgarber Rd, Knoxville, TN 37909
      View Details
    • Contact for pricing

      Office Space in Bearden Submarket

      Office spaces available in renovated Colony Park office development.
      4709 Papermill Dr NW, Knoxville, TN 37909
      View Details
    • $19 SF/Yr
      7,520 SF

      Office Space Available For Rent

      7,520 square feet of office space for lease.
      6305 Lonas Dr, Knoxville, TN 37909
      View Details
    • $14 SF/Yr

      West Knoxville Office Suites

      Office suites in West Knoxville with easy I-40 access.
      6500 Papermill, Knoxville, TN 37909
      View Details
    • $23 SF/Yr
      3,466 SF

      Class A Office Complex

      83,173 SF office complex with room to expand.
      1125 E Weisgarber Rd, Knoxville, TN 37909
      View Details
    • $19 SF/Yr
      2,500 SF

      Office Space in Bearden Submarket

      Office space for rent in renovated Colony Park development.
      4707-4713 Papermill Dr Northwest, Knoxville, TN 37909
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4028 Papermill Dr
    Knoxville, TN 37909
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!