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    3297 Cosby Hwy Cosby, TN 37722

    • Retail space
    • 9,301 SF
    • 1.05 lot acres
    For Lease
    View listing
    $7 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-3552779
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Redbox / Movie Rental Kiosk / Dvd Store
    • Western Union / Money Transfer Service

    Property Details for 3297 Cosby Hwy

    Year built
    2006
    Construction
    FRAME
    Lot size
    1.05 lot acres
    Property size
    9,301 SF
    Property type
    Retail space
    APN
    015102 02525
    APU
    1510202525

    Description

    This exceptional 9,014-square-foot stand-alone retail building presents a unique investment or leasing opportunity in Cosby, Tennessee. Situated on a 1.05-acre lot, the property boasts a 2006 construction date and is currently entirely vacant, offering complete flexibility for a new tenant or owner. The building is zoned unzoned, providing potential for a variety of uses. The property is available for both sale and lease. Lease terms include a Net Net (NN) structure, with the landlord responsible for roof repairs and maintenance. Tenant responsibilities encompass property taxes, insurance, and all other operating expenses. The base rent is $6,098 per month, translating to $7.00 per square foot annually, based on a 5-year initial lease term. The space is divisible, offering the potential for two 4,507-square-foot rentable units, or other configurations as mutually agreed upon. Located at 3297 Cosby Highway, Cocke County, TN 37722, this property offers high visibility and accessibility. Its single-tenant occupancy allows for a streamlined management approach, making it an attractive option for businesses seeking a prominent location in a growing market. The property's size and layout provide ample space for a variety of retail concepts, making it an ideal choice for entrepreneurs and established businesses alike. This is a rare opportunity to acquire a well-maintained, strategically located retail space in a desirable area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $950,000
      Market price range: $246k - $1.33M
      AI Estimate
      $1,282,000
      Market price range: $669k - $1.28M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,220,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Cosby
    County
    Cocke
    State
    Tennessee
    Longitude
    -83.2232
    Latitude
    35.8432
    CBSA code
    35460
    CBSA name
    NEWPORT, TN MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $16,200
    $196,720
    $212,920
    -
    $40,500
    $491,800
    $532,300

    Comparable in this City

    • Value Estimation by Request
      961 SF

      3001 Cosby Hwy

      RETAIL STORES (PERSONAL SERVICES) • 961 SF
      3001 Cosby Hwy, Cosby, TN 37722-3126
      View Details
    • Value Estimation by Request
      2,400 SF

      Hooper Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      Hooper Hwy, Cosby, TN 37722
      View Details
    • Value Estimation by Request
      4,821 SF

      4390 Cosby Hwy

      RETAIL STORES (PERSONAL SERVICES) • 4,821 SF
      4390 Cosby Hwy, Cosby, TN 37722-2508
      View Details
    • Value Estimation by Request
      2,616 SF

      115 Cricket Holw Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,616 SF
      115 Cricket Holw Rd, Cosby, TN 37722-2505
      View Details
    • Value Estimation by Request
      1,800 SF

      Groundhog Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,800 SF
      Groundhog Rd, Cosby, TN 37722
      View Details
    • Value Estimation by Request
      1,400 SF

      690 Hwy 32

      RETAIL STORES (PERSONAL SERVICES) • 1,400 SF
      690 Hwy 32, Cosby, TN 37722
      View Details

    Similar Nearby for Sale

    • $720,000
      2.17 Acres

      Hwy 321 Commercial Land, Cosby, TN

      Prime 2-acre commercial lot near Smoky Mountains.
      4941 Hooper Hwy, Cosby, TN 37722
      View Details
    • $90,000
      4.50 Acres

      Sevier County Land For Sale

      4.5 acres of raw land near Dollywood and Gatlinburg.
      E Balls Hollow Rd, Cosby, TN 37722
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    • $150,000
      11.50 Acres

      Unrestricted Acreage in Cosby, TN

      Unrestricted acreage in Cosby, TN, perfect for building or recreation.
      3406 Bogard Rd, Cosby, TN 37722
      View Details
    • $45,900
      3.56 Acres

      Land Near Smoky Mountains

      3.56 acres near Cherokee National Forest and Gatlinburg.
      Par 001.08 Mtn Shadow Way, Cosby, TN 37722
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    • $219,000
      2.62 Acres

      Cosby, TN Unrestricted Land

      2.62 acres of unrestricted land near Gatlinburg and Rocky Top.
      1-3 Hooper Hwy, Cosby, TN 37722
      View Details
    • Contact for pricing
      1.01 Acres

      Land in Green Forest, Cosby

      1.01 acre of land near the Smoky Mountains.
      1.01 Ac Grn Frst Rd, Cosby, TN 37722
      View Details
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    3297 Cosby Hwy
    Cosby, TN 37722
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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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