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

    1031 Shumard Ave Knoxville, TN 37914

    • Commercial real estate
    • 2.59 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1573991
    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

    • Commercial real estate

    Property Details for 1031 Shumard Ave

    Lot size
    2.59 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 2.59-acre commercial building lot presents a prime development opportunity in Knoxville, Tennessee. Located at 1031 Shumard Ave, zip code 37914, this level, cleared property boasts a highly visible location, just one minute from the interstate. Its strategic placement ensures maximum exposure, situated adjacent to established businesses including hotels, gas stations, and restaurants, guaranteeing high traffic and visibility. The property is zoned C-H-2, offering flexibility for a variety of commercial uses. Comprising two combined lots, the property offers the potential for development as a single large site or the possibility of subdivision into smaller parcels. This prime location, coupled with its size and zoning, makes it an attractive investment for developers seeking a high-impact commercial project in a thriving area of Knoxville. The asking price is $899,900. Broker co-op is available.

    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
    -83.775593
    Latitude
    35.999522

    Comparable in this City

    • Contact for pricing
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      Knoxville Vacant Land Opportunity

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      Lord Commercial Park: Prime Knoxville Land

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      Commercial/Industrial Lot in Knoxville

      0.19-acre lot suitable for various business or development opportunities.
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      Residential Land in Urban Area

      17-acre residential land parcel within an urban growth boundary.
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    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Knoxville Lot with Development Potential

      0.126-acre wooded lot with utilities available for new construction.
      1004 Leconte Rd, Knoxville, TN 37914
      View Details
    • $1,594,000
      17.14 Acres

      Knoxville Land with River Frontage

      Estate-quality acreage with Holston River frontage, ideal for luxury estate.
      Asbury Rd, Knoxville, TN 37914
      View Details
    • New
      $31,900
      1.00 Acre

      Knoxville Vacant Land Opportunity

      One-acre lot ready for single or double-wide manufactured home.
      Stoney Pt Rd, Knoxville, TN 37914
      View Details
    • Contact for pricing
      1.50 Acres

      Lord Commercial Park: Prime Knoxville Land

      ±37 Acres, High-Traffic Location, Excellent Demographics
      0 Strawberry Plains Pike, Knoxville, TN 37914
      View Details
    • $40,000
      0.19 Acres

      Commercial/Industrial Lot in Knoxville

      0.19-acre lot suitable for various business or development opportunities.
      1018 Cedarwood St, Knoxville, TN 37914
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    • $1,050,000
      17 SF

      Residential Land in Urban Area

      17-acre residential land parcel within an urban growth boundary.
      6355 Strawberry Plains Pike, Knoxville, TN 37914
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      21,672 SF

      Knoxville Industrial Flex Space

      11,635 SF Flex Warehouse Available
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    • $5 SF/Yr
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      Knoxville Industrial Complex for Lease

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      Sublease Opportunity with Dock Access

      Warehouse sublease with multiple docks and ample parking available.
      5502 Island River Dr, Knoxville, TN 37914
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    • $1,275 /Mo
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      Revitalized Retail Space Available

      Recently renovated retail suites with high visibility in Knoxville.
      3930 Martin Luther King Jr Ave, Knoxville, TN 37914
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    • $8 SF/Yr
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      Retail Space in East Knoxville

      Former church space in established shopping center for lease.
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    • $625,000
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      Renovated Office Building with Garage

      Renovated 3,450 SF office building with laydown yard for rent.
      5036 O Barr Rd, Knoxville, TN 37914
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    1031 Shumard Ave
    Knoxville, TN 37914
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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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