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    214 Langley Pl Knoxville, TN 37922-2352
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    Property profile & analytics

    214 Langley Pl, Knoxville, TN 37922-2352

    View on Map
    • Motels
    • 33,072 SF
    • 1.65 lot acres
    Off-Market
    Last Sale Jun 2, 2023
    $8,435,625
    Property ID
    US80-1013675
    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
    $7,150,000
    Show details
    Cap Rate Potential
    2.2%
    Motels
    Location Intelligence

    Current Use by Public Records

    • Extended Stay America - Knoxville - Cedar Bluff / Hotel & Motel / Vacation Rental
    • MainStay Suites Knoxville - Cedar Bluff / Hotel & Motel / Vacation Rental

    Property Details for 214 Langley Pl

    Year built
    1997
    Construction
    STEEL FRAME
    Lot size
    1.65 lot acres
    Property type
    Motels
    APN
    132 00108
    APU
    13200108

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 2, 2023 $8,435,625 Grand Hospitality LLC Esh Tn Properties LLC Special Warranty Deed —
    Jul 12, 2021 — Esh Tn Properties LLC — Deed · related —
    Dec 20, 2012 — Esh Of Tn Properties LLC — Deed Of Trust · related —
    Oct 21, 2010 — Esh Of Tn Properties LLC Esa Properties LLC Warranty Deed · related —
    May 24, 2004 — Bre/esa Properties LLC Esa 0121 INC Quit Claim Deed · related $2.1M · Mers Trustee

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,595,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,642,000
      Market price range: $1.98M - $5.64M
      AI Estimate
      $5,642,000
      Market price range: $1.98M - $5.64M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $4,380,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $10,320,000
      Change: +136% Conversion: Difficult
      MEDICAL BUILDING
      $6,705,000
      Change: +53% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $6,370,000
      Change: +45% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $5,285,000
      Change: +21% Conversion: Difficult
      RETAIL STORES
      $4,415,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -84.1018
    Latitude
    35.9149
    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
    $35,467
    $0.00
    $0.00
    $1,645,360
    -
    $1,934,500
    $2,178,900
    $4,113,400

    Comparable in this City

    • Value Estimation
      $11,460,000
      67,182 SF

      216 Peregrine Way

      HOTEL
      216 Peregrine Way, Knoxville, TN 37922-7502
      View Details
    • Value Estimation
      $3,355,000
      19,660 SF

      9621 Parkside Dr

      HOTEL
      9621 Parkside Dr, Knoxville, TN 37922-2202
      View Details
    • Value Estimation
      $12,315,000
      72,185 SF

      370 Peters Rd

      HOTEL
      370 Peters Rd, Knoxville, TN 37922-7508
      View Details
    • Value Estimation
      $7,625,000
      56,172 SF

      420 Peters Rd

      HOTEL
      420 Peters Rd, Knoxville, TN 37922-2332
      View Details
    • Value Estimation
      $7,580,000
      60,697 SF

      209 Market Pl Blvd

      HOTEL
      209 Market Pl Blvd, Knoxville, TN 37922-2377
      View Details
    • Value Estimation
      $8,000,000
      50,856 SF

      10206 Parkside Dr

      HOTEL
      10206 Parkside Dr, Knoxville, TN 37922-1999
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Knoxville Commercial Property For Sale

      Modern, well-maintained commercial property with high visibility and ample parking.
      120 Suburban Rd, Knoxville, TN 37922
      View Details
    • Contact for pricing
      17,421 SF

      Class A Office Space

      Class A office space with great visibility and ample parking.
      110-120 Capital Dr, Knoxville, TN 37922
      View Details
    • Contact for pricing

      Kingston Pike Office Space Available

      Small office space with convenient access to major thoroughfares.
      9725 Kingston Pike, Knoxville, TN 37922
      View Details
    • $425,000
      0.41 Acres

      Knoxville Waterfront Land For Sale

      Lakefront lot in Lakecove subdivision with frontage on Fort London Lake.
      1607 Yachtsman Way, Knoxville, TN 37922
      View Details
    • Contact for pricing

      Corner Lot on N Peters

      Vacant lot with high visibility and traffic count.
      303 N Peters Rd, Knoxville, TN 37922
      View Details
    • $895,000
      6.57 Acres

      Undeveloped Land in West Knoxville

      6.569 acres of pristine land in a desirable location.
      Early Rd, Knoxville, TN 37922
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,958 SF

      Lakeside Centre Way Office Space

      First-floor office space with private offices, conference rooms, and breakroom.
      2095 Lakeside Centre Way, Knoxville, TN 37922
      View Details
    • Contact for pricing
      1,530 SF

      Retail Space on Kingston Pike

      Retail space available for lease on Kingston Pike.
      9305 Kingston Pike, Knoxville, TN 37922
      View Details
    • Contact for pricing

      Kingston Pike Office Space Available

      Office space for rent with convenient access to amenities.
      9725 Kingston Pike, Knoxville, TN 37922
      View Details
    • Contact for pricing

      West Knoxville Athletic Facility Available

      14,000 SF facility with easy highway access and ample parking.
      10001 Kingston Pike, Knoxville, TN 37922
      View Details
    • $20 SF/Yr

      Office Space on Parkside Drive

      Office space featuring reception, private offices, and conference rooms.
      10160 Parkside Dr, Knoxville, TN 37922
      View Details
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    Knoxville, TN 37922-2352
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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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