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Property profile & analytics
OFF-MARKET
Estimated value
$1,470,000
Strip malls
1620 Choto Markets Way Knoxville, TN 37922-5760
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US80-2776055
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2018
Construction
LIGHT FRAME
Total area
5,404 SF
APN
162MB00110
UPID
US80-2776055
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Johnny Brusco's New York Style Pizza Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.47M
Blend (final)
Blend
$1.47M
Owner & transaction history
Markets At Choto LLC · 9 yrs held
Markets At Choto LLC
since 2017
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.3M
+116.5%
Apartment house (5+ units)
$1.7M
+62.0%
Medical building
$1.1M
+5.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Knoxville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Knoxville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,040,000
Current use
RESTAURANT
$2,255,000
Change: +116% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,685,000
Change: +62% · Conversion: Difficult
MEDICAL BUILDING
$1,095,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$1.47M
Range $1.32M – $1.62M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$272 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$7,201
Tax year 2023
Assessed value
$463,400
Assessed 2023
Previous assessed
$463,400
+0.0% YoY
Effective rate
1.55%
On assessed value
Land market value
$350,900
Improvement market value
$807,600
Total market value
$1,158,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2018
Construction
LIGHT FRAME
Heating
STEAM
Stories
1
Units
1
Total area
5,404 SF
APN
162MB00110
UPID
US80-2776055
Jurisdiction
KNOX
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.0M
RESTAURANT
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2018
Construction
LIGHT FRAME
Heating
STEAM
Stories
1
Units
1
Current owner
From public records · entity-resolved
Markets At Choto LLC
Entity
Mailing address
PO BOX 23038, KNOXVILLE, TN 37933-1038
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 9, 2017
—
Markets At Choto LLC
—
Trustees Deed
related
$1,120,000 · Home Fed'l Bk
Apr 1, 2016
—
Markets At Choto LLC
—
Trustees Deed
related
$90,000 · Home Fed'l Bk/tn
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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