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    Property profile & analytics

    124 Austin St Greeneville, TN 37745

    • Office Properties & Spaces
    • 23,102 SF
    • 0.97 lot acres
    For Sale
    View listing
    $1,525,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0749187
    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

    • District Attorney General's Office / Law Firm
    • Greene County Child Support / Social Service Agency / Charitable Organization
    • Maxim Healthcare Services Greeneville, TN Regional Office / Employment Agency

    Property Details for 124 Austin St

    Year built
    1978
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.97 lot acres
    Property size
    23,102 SF
    Zone code
    A-1
    Property type
    Office Properties & Spaces
    APN
    030099A B 01001
    APU
    030099AB01001

    Description

    This exceptional Greeneville, TN commercial property presents a significant investment opportunity. Boasting over 142,000 square feet of space on a 4.14-acre lot, this facility offers immense potential for various industrial uses, including manufacturing or warehousing. Previously a thriving operation, the property retains some existing equipment and industrial items. The expansive layout includes large storage rooms, multiple conference rooms, substantial floor space ideal for production or storage, and several private offices. Convenient access is provided by two loading docks (one at ground level) and a freight elevator, ensuring efficient material handling. The property benefits from three-phase electric service, primarily underground, enhancing reliability and safety. Its strategic location offers ingress from Jefferson Street and includes a deeded right-of-way on Luke Street, providing multiple access points. Further enhancing its appeal, this property is designated a Qualified HUB Zone. The sale will be conducted via a Special Warranty Deed, "as is," with all due diligence expenses to be borne by the buyer. This is a rare opportunity to acquire a substantial industrial property in a desirable location. The property's size, features, and location make it an attractive prospect for businesses seeking expansion or relocation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $640,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $665,000
      Market price range: $665k - $2.85M

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

    Location Insight

    • Map
    • Local Demand
    City
    Greeneville
    County
    Greene
    State
    Tennessee
    Longitude
    -82.819
    Latitude
    36.1717
    CBSA code
    24620
    CBSA name
    GREENEVILLE, 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
    $5,853
    $35,960
    $138,920
    $174,880
    -
    $89,900
    $347,300
    $437,200

    Comparable in this City

    • Value Estimation by Request
      2,000 SF

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      Baileyton Main St

      OFFICE (GENERAL) • 900 SF
      Baileyton Main St, Greeneville, TN 37745
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    • Value Estimation
      $1,090,000
      3,323 SF

      3095 Andrew Johnson Hwy

      OFFICE (GENERAL) • 3,323 SF
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      768 SF

      Andrew Johnson Hwy

      OFFICE (GENERAL) • 768 SF
      Andrew Johnson Hwy, Greeneville, TN 37745
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    • Value Estimation
      $940,000
      15,370 SF

      College St

      OFFICE (GENERAL) • 15,370 SF
      College St, Greeneville, TN 37745
      View Details
    • Value Estimation by Request
      3,350 SF

      1117 Tusculum Blvd

      OFFICE (GENERAL) • 3,350 SF
      1117 Tusculum Blvd, Greeneville, TN 37745-4131
      View Details

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      Retail/Office/Restaurant Opportunity in Greeneville

      Retail, restaurant, or office space in a prime location.
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      Greeneville Home with Commercial Potential

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    Similar Nearby for Lease

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      Downtown Greeneville Retail Space Available

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      Parking lot with 510 spaces on busy highway.
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      View Details
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    124 Austin St
    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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