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    220 Peters Rd Knoxville, TN 37923-4909
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    Property profile & analytics

    220 Peters Rd, Knoxville, TN 37923-4909

    View on Map
    • Strip malls
    • 10,240 SF
    • 1.15 lot acres
    Off-Market
    Property ID
    US80-1870340
    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
    $2,115,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Knoxville Insurance Group / Insurance Agency
    • Greg Scealf Insurance / Insurance Agency
    • Beverly R Fee Master Barber / Barber Shop
    • Foreign Language Academy / Language School / Translation Service
    • Capital Investments, Inc. / Financial Advisor

    Property Details for 220 Peters Rd

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.15 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    119 02914
    APU
    11902914

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 11, 2022 — D & S Asset Management LLC Graveston LLC Quitclaim Deed · related —
    Jun 22, 2022 $1,200,000 Graveston LLC Brcm LLC Warranty Deed —
    Sep 27, 2021 — Brcm LLC Gary Schnitzius Quitclaim Deed · related —
    Nov 21, 2017 $775,000 Gary Schnitzius Bacon,john W Warranty Deed —
    — — H Wayne Tipton — Deed Of Trust · related $720k · Pinnacle National Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,113,000
      Market price range: $620k - $3.42M
      AI Estimate
      $2,113,000
      Market price range: $620k - $3.42M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,970,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $3,195,000
      Change: +62% Conversion: Difficult
      MEDICAL BUILDING
      $2,075,000
      Change: +5% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,635,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -84.0837
    Latitude
    35.9166
    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
    $14,373
    $0.00
    $0.00
    $666,760
    -
    $894,700
    $772,200
    $1,666,900

    Comparable in this City

    • Value Estimation
      $5,050,000
      15,128 SF

      8807 Kingston Pike

      SHOPPING CENTER, STRIP CENTER
      8807 Kingston Pike, Knoxville, TN 37923-5002
      View Details
    • Value Estimation
      $7,360,000
      93,502 SF

      9123 Executive Park Dr

      SHOPPING CENTER, STRIP CENTER
      9123 Executive Park Dr, Knoxville, TN 37923-4509
      View Details
    • Value Estimation
      $3,100,000
      17,328 SF

      430 Cedar Blf Rd

      SHOPPING CENTER, STRIP CENTER
      430 Cedar Blf Rd, Knoxville, TN 37923-3612
      View Details
    • Value Estimation
      $2,850,000
      14,342 SF

      8647 Middlebrook Pike

      SHOPPING CENTER, STRIP CENTER
      8647 Middlebrook Pike, Knoxville, TN 37923-1612
      View Details
    • Value Estimation
      $635,000
      4,500 SF

      9053 Middlebrook Pike

      SHOPPING CENTER, STRIP CENTER
      9053 Middlebrook Pike, Knoxville, TN 37923-1559
      View Details
    • Value Estimation
      $6,335,000
      55,411 SF

      421 Park 40th Blvd

      SHOPPING CENTER, STRIP CENTER
      421 Park 40th Blvd, Knoxville, TN 37923-3615
      View Details

    Similar Nearby for Sale

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      4,209 SF

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      Knoxville Medical Office Space Available

      Medical office space for sale in West Knoxville's Cedar Bluff.
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      Prime Commercial Land Opportunity

      2.33-acre commercial land for retail or commercial development.
      N Gallaher View Rd, Knoxville, TN 37923
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      West Knoxville Land For Sale

      Land available in a mixed-use area near retail.
      321 N Gallaher View Rd NW, Knoxville, TN 37923
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      Pending

      Renovated Condo Near Amenities

      Ground-floor condo with modern updates and community amenities.
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      Cedar Bluff Office Building

      68,000 SF office building in Cedar Bluff area.
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    Similar Nearby for Lease

    • Contact for pricing
      3,787 SF

      Retail Space in Kroger Center

      Retail space available in Cedar Bluff Kroger shopping center.
      9157 Middlebrook Pike, Knoxville, TN 37923
      View Details
    • Contact for pricing
      34,942 SF

      West Knoxville Retail Space Available

      Large retail space in a regional shopping center for lease.
      115 N Peters Rd, Knoxville, TN 37923
      View Details
    • Contact for pricing
      24,502 SF

      Retail Space in Knoxville Center

      Retail space available for lease in established West Knoxville center.
      106 N Peters Rd, Knoxville, TN 37923
      View Details
    • Contact for pricing
      2,607 SF

      Retail Space Near Park West

      Retail space with high visibility and ample parking available.
      9220 Park Blvd W, Knoxville, TN 37923
      View Details
    • $20 SF/Yr

      Retail Space Near Park West

      Retail space with high visibility near Park West Hospital.
      9220 Park West Blvd, Knoxville, TN 37923
      View Details
    • Contact for pricing
      2,560 SF

      Retail Space on Cedar Bluff

      Retail space available in a prime location.
      450 N Cedar Bluff Rd, Knoxville, TN 37923
      View Details
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    Knoxville, TN 37923-4909
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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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