Back to Search
Property profile & analytics
FOR SALE
Medical Office Space
1633 W Morris Blvd Morristown, TN 37813
Individually Owned
31-yr Hold
Absentee Owner
Free & Clear
Property ID
US80-1113975
For Sale
1 / 10
$1,000,000
1633 W Morris Blvd, Morristown, TN 37813
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1991
Construction
FRAME
Total area
9,386 SF
Lot
1.65 ac (71,874 SF)
APN
032041F G 00200
UPID
US80-1113975
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
-
Dr. Daniel B. Drinnen, MD Physician
-
Dr. David J. Riden, MD Physician
-
Kesterson Stacey MD Physician
-
UT Medical Center Home Care Home Health Care Service
-
Morristown-Hamblen Hospice Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$415k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$803k
Blend (final)
Blend
$610k
Owner & transaction history
Morristown Professional Ct · 31 yrs held
Morristown Professional Ct
since 1995
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$760,000
+28.0%
Commercial (general)
$735,000
+23.8%
Auto repair, garage
$720,000
+20.8%
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 Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown 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
$415,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$595,000
Current use
RESTAURANT
$760,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$735,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$720,000
Change: +21% · Conversion: Difficult
RETAIL STORES
$690,000
Change: +16% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$630,000
Change: +6% · Conversion: Moderate
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$65 / 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
Property tax & assessments
Assessed value
$612,080
Assessed 2023
Previous assessed
$612,080
+0.0% YoY
Assessed land
$113,720
Assessed improvement
$498,360
Land market value
$284,300
Improvement market value
$1,245,900
Total market value
$1,530,200
Applied tax rate
32.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Sale
Year built
1991
Construction
FRAME
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Units
1
Rooms
33
Bathrooms
13
Total area
9,386 SF
Lot
1.65 ac (71,874 SF)
APN
032041F G 00200
UPID
US80-1113975
Jurisdiction
HAMBLEN
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
MEDICAL BUILDING Current
Est. value
$595,000
RESTAURANT
Est. value
$760,000
COMMERCIAL (GENERAL)
Est. value
$735,000
AUTO REPAIR, GARAGE
Est. value
$720,000
RETAIL STORES
Est. value
$690,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$630,000
MEDICAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1991
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Units
1
Rooms
33
Bathrooms
13
Lot
1.65 ac
Current owner
From public records · entity-resolved
Morristown Professional Ct
Individual
Free & Clear · 31 yrs held
Mailing address
1420 CENTERPOINT BLVDC, KNOXVILLE, TN 37932-1960
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1995
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 7, 1995
$3,226,000
Morristown Professional Ct
Morristown,profe
Grant Deed
related
—
Aug 14, 1990
$85,000
Dan E Hale
Unknown,
Grant Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
