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

    231 Sam Rayburn Pkwy Lenoir City, TN 37771-3352

    • Office Properties & Spaces
    • 6,690 SF
    • 1.30 lot acres
    OFF-MARKET
    Last Sale
    Feb 26, 2020
    $885,000
    Value Estimations
    $1,085,000
    Show details
    Cap Rate Potential
    6.6%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US80-1847970
    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

    • Organize My Drawer / Industrial Manufacturer / Production Facility
    • Integration Engineering, PLLC. / Consultant

    Property Details for 231 Sam Rayburn Pkwy

    Year built
    2001
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.30 lot acres
    Property size
    6,690 SF
    Property type
    Office Properties & Spaces
    APN
    073050 02407
    APU
    7305002407

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,100,000
      ML approach
      $1,145,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,220,000
      6.5%
      $1,125,000
      7%
      $1,045,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,356,000
      Market price range: $693k - $2.71M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lenoir City
    County
    Roane
    State
    Tennessee
    Longitude
    -84.3456
    Latitude
    35.8881
    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
    0
    $0.00
    $20,800
    $150,120
    $170,920
    -
    $52,000
    $375,300
    $427,300

    Comparable in this City

    • Value Estimation by Request
      1,350 SF

      603 Hwy 321st N

      OFFICE (GENERAL) • 1,350 SF
      603 Hwy 321st N, Lenoir City, TN 37771-6575
      View Details
    • Value Estimation by Request
      936 SF

      Bon St

      OFFICE (GENERAL) • 936 SF
      Bon St, Lenoir City, TN 37771
      View Details
    • Value Estimation
      $800,000
      4,615 SF

      810 Broadway St

      OFFICE (GENERAL) • 4,615 SF
      810 Broadway St, Lenoir City, TN 37771-3013
      View Details
    • Value Estimation
      $705,000
      5,502 SF

      121 Pawnook Farm Rd

      OFFICE (GENERAL) • 5,502 SF
      121 Pawnook Farm Rd, Lenoir City, TN 37771
      View Details
    • Value Estimation by Request
      2,660 SF

      3003 Hwy 11th W

      OFFICE (GENERAL) • 2,660 SF
      3003 Hwy 11th W, Lenoir City, TN 37771-8561
      View Details
    • Value Estimation by Request
      2,829 SF

      510 Hwy 321st N

      OFFICE (GENERAL) • 2,829 SF
      510 Hwy 321st N, Lenoir City, TN 37771-6540
      View Details

    Similar Nearby for Sale

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      Lenoir City Office Investment Opportunity

      Recently renovated office space occupied by long-term tenants.
      1015 E 1St Ave, Lenoir City, TN 37771
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    • $2,750,000
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      Lenoir City Office Building For Sale

      18,750 SF office building with flexible design potential.
      2265 Old Highway 95, Lenoir City, TN 37771
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    • $249,999
      4.77 Acres

      Lenoir City Land For Sale

      4.77 acre lot in Lenoir City, Tennessee.
      150 Copenhaver Rd, Lenoir City, TN 37771
      View Details
    • $285,000
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      Unrestricted Land in Lenoir City

      Three unrestricted acres perfect for building a dream home.
      Grubb Rd, Lenoir City, TN 37771
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    • $1,625,000
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      Commercial Land Near Interstate 40

      5 acres of commercial land near Interstate 40 and Highway 321.
      Highway 321, Lenoir City, TN 37771
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    • $325,000
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      5-Acre Lot in Gated Community

      Private 5-acre lot in a convenient, gated community.
      675 Travellers Way, Lenoir City, TN 37771
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    Similar Nearby for Lease

    • $18 SF/Yr
      58,124 SF

      Spring Cress Office Park: Lenoir City, TN

      Class A Medical Office Space Available
      501 Adesa Blvd, Lenoir City, TN 37771
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    • $15 SF/Yr
      12,000 SF

      Versatile Property with Interstate Visibility

      Two buildings totaling 12,000 SF with outdoor storage.
      14395 Hickory Creek Rd, Lenoir City, TN 37771
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    • $30 SF/Yr
      8,300 SF

      New Retail Center on Highway

      New retail center with high visibility and drive-thru potential.
      780 S 321, Lenoir City, TN 37771
      View Details
    • $9 SF/Yr
      431,378 SF

      Knoxville Logistics Center: 431,378 SF

      Class A industrial space, ideal for distribution.
      128 Pawnook Farm Rd, Lenoir City, TN 37771
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    • $4,500 /Mo

      Lenoir City Commercial Land Available

      Commercial land available for rent in Lenoir City, Tennessee.
      1320 Highway 321 N, Lenoir City, TN 37771
      View Details
    • $2 SF/Yr

      1.77 Acre Land For Lease

      1.77 acre land for lease with high traffic location.
      524 Highway 321 N, Lenoir City, TN 37771
      View Details
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    231 Sam Rayburn Pkwy
    Lenoir City, TN 37771-3352
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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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