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    Property profile & analytics

    216 Blount Ave Knoxville, TN 37920-1613

    • Medical Office Space
    • 68,159 SF
    • 0.02 lot acres
    OFF-MARKET
    Last Sale
    Apr 04, 2022
    $4,750,000
    Value Estimations
    $5,695,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1752856
    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

    • Medical Office Space

    Property Details for 216 Blount Ave

    Year built
    1971
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.02 lot acres
    Property size
    68,159 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    109AA015
    APU
    109AA015

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,440,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,771,000
      Market price range: $6.77M - $19.0M
      AI Estimate
      $6,771,000
      Market price range: $6.77M - $19.0M

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -83.9149
    Latitude
    35.9547
    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
    $5,208
    $0.00
    $0.00
    $140,400
    -
    $351,000
    $0.00
    $351,000

    Comparable in this City

    • Value Estimation by Request
      2,496 SF

      6209 Chapman Hwy

      MEDICAL BUILDING • 2,496 SF
      6209 Chapman Hwy, Knoxville, TN 37920-5936
      View Details
    • Value Estimation by Request
      2,124 SF

      601 Governor John Sevier Hwy

      MEDICAL BUILDING • 2,124 SF
      601 Governor John Sevier Hwy, Knoxville, TN 37920-6713
      View Details
    • Value Estimation
      $560,000
      2,015 SF

      410 Governor John Sevier Hwy

      MEDICAL BUILDING • 2,015 SF
      410 Governor John Sevier Hwy, Knoxville, TN 37920-6626
      View Details
    • Value Estimation
      $2,440,000
      24,544 SF

      3734 Martin Ml Pike

      MEDICAL BUILDING • 24,544 SF
      3734 Martin Ml Pike, Knoxville, TN 37920-2453
      View Details
    • Value Estimation
      $12,740,000
      45,802 SF

      2704 Cherokee Farm Way

      MEDICAL BUILDING • 45,802 SF
      2704 Cherokee Farm Way, Knoxville, TN 37920-3296
      View Details
    • Value Estimation by Request
      1,800 SF

      5900 Chapman Hwy

      MEDICAL BUILDING • 1,800 SF
      5900 Chapman Hwy, Knoxville, TN 37920-5931
      View Details

    Similar Nearby for Sale

    • $2,700,000
      27,000 SF

      Knoxville Office Building For Sale

      26,760 SF office building with flexible owner financing.
      7209 Chapman Hwy, Knoxville, TN 37920
      View Details
    • $415,000
      7,374 SF

      Knoxville Redevelopment Opportunity

      Two-story commercial building in a rapidly growing community.
      315 Ogle Ave, Knoxville, TN 37920
      View Details
    • $995,000
      5.20 Acres

      Cleared Acreage in South Knoxville

      5.2+/- acres ideal for development in a growing area.
      E Governor John Sevier Hwy, Knoxville, TN 37920
      View Details
    • $116,000
      Pending

      Residential Land in Lakemoor Hills

      Wooded lot in secluded neighborhood with community amenities.
      2504 Craghead Ln, Knoxville, TN 37920
      View Details
    • $299,000
      2.81 Acres

      Lakemoor Hills Buildable Lot

      2.81 acres with build sites near Fort Loudon Lake.
      Montlake Lot 2 Dr, Knoxville, TN 37920
      View Details
    • $349,900
      7.35 Acres

      Residential Land Development Opportunity

      7.35 acres of wooded land with development potential.
      E Governor John Sevier Hwy, Knoxville, TN 37920
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in High-Traffic Area

      Well-maintained retail center with high visibility and ample parking.
      4512 Chapman Hwy, Knoxville, TN 37920
      View Details
    • $1,200 /Mo

      Commercial Land in High-Traffic Area

      Land for rent in growing waterfront area with high visibility.
      3106 Chapman Hwy, Knoxville, TN 37920
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space available for lease with 2733 square feet.
      4409 Chapman Hwy, Knoxville, TN 37920
      View Details
    • $1,200 /Mo

      High-Traffic Land for Lease

      Prime commercial land available in a high-growth Knoxville corridor.
      3106 Chapman Hwy, Knoxville, TN 37920
      View Details
    • Contact for pricing
      6,000 SF

      Restaurant or Retail Space Available

      6,000 SF space suitable for restaurant or retail use.
      7417-7433 Chapman Hwy, Knoxville, TN 37920
      View Details
    • Contact for pricing

      South Knoxville Land Near Downtown

      Land near downtown Knoxville suitable for various development projects.
      520 Yarnell Ave, Knoxville, TN 37920
      View Details
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    216 Blount Ave
    Knoxville, TN 37920-1613
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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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