Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    224 Thornwood Dr Greeneville, TN 37745-4216

    • Residential income homes
    • 84,285 SF
    • 4.06 lot acres
    OFF-MARKET
    Value Estimations
    $4,545,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1522713
    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

    • Plaza Towers Apartments / Apartment Complex

    Property Details for 224 Thornwood Dr

    Year built
    1984
    Construction
    CONCRETE
    Lot size
    4.06 lot acres
    Property size
    84,285 SF
    Zone code
    B4
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    030087J A 01201
    APU
    030087JA01201

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,546,000
      Market price range: $2.62M - $6.16M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $4,545,000
      Current use
      RETAIL STORES
      $6,915,000
      Change: +52% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $6,785,000
      Change: +49% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $5,970,000
      Change: +31% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Greeneville
    County
    Greene
    State
    Tennessee
    Longitude
    -82.7972
    Latitude
    36.1795
    CBSA code
    24620
    CBSA name
    GREENEVILLE, TN MICROPOLITAN 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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $146,000
    $4,080,900
    $4,226,900

    Comparable in this City

    • Value Estimation by Request
      6,004 SF

      100 Heatherwood Loop

      APARTMENT HOUSE (UNDER 5 UNITS) • 6,004 SF
      100 Heatherwood Loop, Greeneville, TN 37745-4226
      View Details
    • Value Estimation by Request
      5,346 SF

      926 Apple St

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,346 SF
      926 Apple St, Greeneville, TN 37745-4073
      View Details
    • Value Estimation by Request
      7,800 SF

      1407 Woodlawn Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 7,800 SF
      1407 Woodlawn Dr, Greeneville, TN 37745-4158
      View Details
    • Value Estimation by Request
      10,336 SF

      Tusculum Blvd

      APARTMENT HOUSE (UNDER 5 UNITS) • 10,336 SF
      Tusculum Blvd, Greeneville, TN 37745
      View Details
    • Value Estimation by Request
      3,296 SF

      1109 Woodlawn Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,296 SF
      1109 Woodlawn Dr, Greeneville, TN 37745-4156
      View Details
    • Value Estimation by Request
      2,016 SF

      Leonard St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,016 SF
      Leonard St, Greeneville, TN 37745
      View Details

    Similar Nearby for Sale

    • $675,000
      Pending

      Greeneville 8-Plex Apartment Building

      Well-maintained 8-unit apartment building in a park-like setting.
      1407 Woodlawn Dr, Greeneville, TN 37745
      View Details
    • $425,000
      3,040 SF

      Downtown Greeneville Investment Opportunity

      High-potential income property in the heart of downtown Greeneville.
      324 E Church St, Greeneville, TN 37745
      View Details
    • $195,000
      Pending

      Greeneville Duplex with Remodeled Units

      Two-story duplex near downtown Greeneville with remodeled units.
      507 S Franklin St, Greeneville, TN 37745
      View Details
    • $180,000
      2,138 SF

      Multifamily Investment Opportunity in Greeneville

      Multifamily unit in high-demand location, ideal for investors.
      1717 Lafayette St, Greeneville, TN 37745
      View Details
    • $499,900
      0.81 Acres

      Greeneville Home with Commercial Potential

      Home with B4 zoning, suitable for residential or commercial use.
      1409 Tusculum Blvd, Greeneville, TN 37745
      View Details
    • Contact for pricing

      Prime Commercial Land Opportunity

      Commercial land with high traffic count and road frontage.
      E Andrew Johnson Hwy, Greeneville, TN 37745
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo
      Pending

      Versatile Commercial Space For Lease

      Multi-use commercial space suitable for office, medical, or retail.
      15 Old Stage Rd, Greeneville, TN 37745
      View Details
    • Contact for pricing
      6,900 SF

      Retail Space on Highway 11E

      Retail space with ample parking on a busy highway.
      1465-1515 E Andrew Johnson Hwy, Greeneville, TN 37745
      View Details
    • Contact for pricing

      Commercial Land For Rent

      Centrally located land with high visibility in Greeneville, Tennessee.
      600 W Andrew Johnson Hwy, Greeneville, TN 37745
      View Details
    • $6 SF/Yr
      25,000 SF

      Retail Suites in East Gate Center

      Multiple retail suites available for lease in Greeneville, TN.
      839 Tusculum Blvd, Greeneville, TN 37745
      View Details
    • $3,000 /Mo
      1,656 SF

      Downtown Greeneville Retail Space Available

      Large open retail space in downtown Greeneville with ample parking.
      210 W Church St, Greeneville, TN 37745
      View Details
    • $800 /Mo
      1,950 SF

      Warehouse Storage in Greeneville, TN

      Warehouse space for lease with easy access and ample storage.
      902 Jefferson St, Greeneville, TN 37745
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    224 Thornwood Dr
    Greeneville, TN 37745-4216
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!