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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    216 Langley Pl Knoxville, TN 37922-2352

    • Hotels
    • 45,220 SF
    • 1.65 lot acres
    OFF-MARKET
    Value Estimations
    $7,715,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-3558537
    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

    • Courtyard Knoxville Cedar Bluff / Hotel / Meeting Planning Service
    • The Bistro – Eat. Drink. Connect.® / American Restaurant / Bistro
    • 216 Langley Place Parking / Parking Lot

    Property Details for 216 Langley Pl

    Year built
    1995
    Construction
    WOOD FRAME
    Lot size
    1.65 lot acres
    Property size
    45,220 SF
    Property type
    Hotels
    APN
    132 00106
    APU
    13200106

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,714,000
      Market price range: $2.70M - $7.71M
      AI Estimate
      $7,714,000
      Market price range: $2.70M - $7.71M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $5,990,000
      Current use
      MEDICAL BUILDING
      $9,165,000
      Change: +53% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $8,710,000
      Change: +45% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $7,230,000
      Change: +21% Conversion: Difficult
      RETAIL STORES
      $6,040,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -84.1026
    Latitude
    35.9146
    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
    $41,195
    $0.00
    $0.00
    $2,650,920
    -
    $1,934,500
    $4,692,800
    $6,627,300

    Comparable in this City

    • Value Estimation
      $8,870,000
      52,006 SF

      205 Langley Pl

      HOTEL • 52,006 SF
      205 Langley Pl, Knoxville, TN 37922-2352
      View Details
    • Value Estimation
      $11,460,000
      67,182 SF

      216 Peregrine Way

      HOTEL • 67,182 SF
      216 Peregrine Way, Knoxville, TN 37922-7502
      View Details
    • Value Estimation
      $570,000
      3,348 SF

      215 Langley Pl

      HOTEL • 3,348 SF
      215 Langley Pl, Knoxville, TN 37922-2352
      View Details
    • Value Estimation
      $19,200,000
      112,548 SF

      209 Advantage Pl

      HOTEL • 112,548 SF
      209 Advantage Pl, Knoxville, TN 37922-2336
      View Details
    • Value Estimation
      $635,000
      3,728 SF

      208 Market Pl Blvd

      HOTEL • 3,728 SF
      208 Market Pl Blvd, Knoxville, TN 37922-2358
      View Details
    • Value Estimation
      $3,355,000
      19,660 SF

      9621 Parkside Dr

      HOTEL • 19,660 SF
      9621 Parkside Dr, Knoxville, TN 37922-2202
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,000 SF

      Kingston Pike Office Space Available

      Small office space with convenient access to major thoroughfares.
      9725 Kingston Pike, Knoxville, TN 37922
      View Details
    • $309,900
      0.29 Acres

      Residential Land with Mountain Views

      Corner lot ready for custom home with mountain and lake views.
      9326 Chimney Top Ln, Knoxville, TN 37922
      View Details
    • $158,000
      0.44 Acres

      Residential Land in Weatherstone Subdivision

      0.44 acre lot in desirable Knoxville location with amenities.
      10316 Autumn Valley Ln, Knoxville, TN 37922
      View Details
    • $168,000
      0.24 Acres

      Residential Lot in Weatherstone Subdivision

      Residential lot in Knoxville's Weatherstone Subdivision with community amenities.
      481 Laurel Ridge Ln, Knoxville, TN 37922
      View Details
    • New
      $179,000
      0.28 Acres

      Residential Land in Gated Community

      Flat, build-ready lot with lake access in Knoxville, Tennessee.
      12433 Palm Beach Way, Knoxville, TN 37922
      View Details
    • Contact for pricing
      146,244 SF

      Kingston Pike Retail Space Available

      Retail space in a high-traffic shopping center anchored by Home Depot.
      9307 Kingston Pike, Knoxville, TN 37922
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      96,205 SF

      Lakeside Executive Office Suites

      Prestigious Knoxville Office Space, Lake Views
      2095 Lakeside Centre Way, Knoxville, TN 37922
      View Details
    • $28 SF/Yr
      3,100 SF

      Retail Space in Turkey Creek

      Retail buildings with high traffic and thriving neighbors.
      10913 Parkside Dr, Knoxville, TN 37922
      View Details
    • $4,950,000
      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
    • $18 SF/Yr
      1,530 SF

      Retail Space on Kingston Pike

      Retail space available for lease on Kingston Pike.
      9305 Kingston Pike, Knoxville, TN 37922
      View Details
    • $26 SF/Yr
      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
    • $19 SF/Yr
      150,000 SF

      Franklin Square Office Suites

      West Knoxville Office Space Available
      9724 Kingston Pike, Knoxville, TN 37922
      View Details
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    216 Langley Pl
    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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