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    1501 White Ave Knoxville, TN 37916
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    1501 White Ave Knoxville, TN 37916

    View on Map
    • Casinos
    • 13,980 SF
    • 0.20 lot acres
    For Sale
    $4,700,000
    View Listing →
    Knoxville Mixed-Use Investment Opportunity For Sale
    $4,700,000
    12,450 SF

    Knoxville Mixed-Use Investment Opportunity

    Two-story commercial property near University of Tennessee with expansion potential.

    1501 White Ave, Knoxville, TN 37916
    View Listing
    Property ID
    US80-1266533
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Insight Therapy Center / Corporate Office

    Property Details for 1501 White Ave

    Year built
    1961
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.20 lot acres
    Property size
    13,980 SF
    Property type
    Casinos
    APN
    094MJ023
    APU
    094MJ023

    Description

    This exceptional mixed-use property presents a rare investment opportunity in Knoxville, Tennessee. Located at 1501 White Ave, just one block from Cumberland Avenue and surrounded by student housing near the University of Tennessee, this two-story, 12,450 square foot building offers significant potential. The property is currently vacant, providing a blank canvas for a discerning investor. The street level boasts approximately 6,530 square feet, while the lower terrace level offers an additional 5,920 square feet. These measurements are approximate; buyers are advised to conduct their own verification. The property's zoning and permitting may allow for the addition of further commercial or residential floors, significantly increasing its value and potential rental income. The asking price is $5,500,000, translating to $441.77 per square foot. This location's proximity to the university and the surrounding student population makes it an ideal site for a variety of commercial ventures, including restaurants and storefronts. This is a unique chance to acquire a substantial property in a thriving, high-growth area. Don't miss this opportunity to capitalize on the vibrant Knoxville market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,209,000
      Market price range: $1.21M - $3.48M
      AI Estimate
      $1,209,000
      Market price range: $1.21M - $3.48M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,865,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -83.9291
    Latitude
    35.9591
    CBSA code
    28940
    CBSA name
    KNOXVILLE, TN METROPOLITAN 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
    $10,948
    $0.00
    $0.00
    $295,120
    -
    $441,800
    $296,000
    $737,800

    Comparable in this City

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      View Details
    • Value Estimation by Request
      744 SF

      501 20th St Ste, Unit 202

      CASINO • 744 SF
      501 20th St Ste, Knoxville, TN 37916-1851
      View Details
    • Value Estimation by Request
      509 SF

      501 20th St Ste, Unit 505

      CASINO • 509 SF
      501 20th St Ste, Knoxville, TN 37916-1869
      View Details
    • Value Estimation by Request
      1,038 SF

      501 20th St, Unit 506

      CASINO • 1,038 SF
      501 20th St, Knoxville, TN 37916-1809
      View Details
    • Value Estimation
      $865,000
      5,044 SF

      501 20th St203a

      CASINO • 5,044 SF
      501 20th St203a, Knoxville, TN 37916-1809
      View Details
    • Value Estimation by Request
      2,946 SF

      501 20th St Ste, Unit 204

      CASINO • 2,946 SF
      501 20th St Ste, Knoxville, TN 37916-1881
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,450 SF

      Knoxville Mixed-Use Investment Opportunity

      Two-story commercial property near University of Tennessee with expansion potential.
      1501 White Ave, Knoxville, TN 37916
      View Details
    • $3,200,000
      20,372 SF

      Prime Knoxville Medical Office Building

      20,372 SF Medical Office - $3.2M
      1616 Grand Ave, Knoxville, TN 37916
      View Details
    • Contact for pricing

      Cumberland Avenue Retail End-Cap Space

      2,255 SF retail space on Knoxville's premier retail corridor.
      2010 Cumberland Ave, Knoxville, TN 37916
      View Details
    View Listing
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    Knoxville, TN 37916
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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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