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

    241-245 Joule St Alcoa, TN 37701

    • Medical offices
    • 15,443 SF
    • 2.84 lot acres
    OFF-MARKET
    Value Estimations
    $2,480,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1580137
    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 offices

    Property Details for 241-245 Joule St

    Year built
    2017
    Construction
    FRAME
    Lot size
    2.84 lot acres
    Property size
    15,443 SF
    Zone code
    B
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    005046L A 00500
    APU
    005046LA00500

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,905,000
      6.5%
      $2,680,000
      7%
      $2,490,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,355,000
      Market price range: $753k - $2.36M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $3,125,000
      Current use
      COMMERCIAL (GENERAL)
      $3,130,000
      Change: +0% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Alcoa
    County
    Blount
    State
    Tennessee
    Longitude
    -83.9763
    Latitude
    35.7669
    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
    2022
    $57,124
    $367,800
    $1,012,960
    $1,380,760
    -
    $919,500
    $2,532,400
    $3,451,900

    Comparable in this City

    • Value Estimation
      $1,110,000
      5,781 SF

      3075 Lois Ln

      MEDICAL BUILDING • 5,781 SF
      3075 Lois Ln, Alcoa, TN 37701-3203
      View Details
    • Value Estimation
      $820,000
      7,160 SF

      310 Sanderson St

      MEDICAL BUILDING • 7,160 SF
      310 Sanderson St, Alcoa, TN 37701-2428
      View Details
    • Value Estimation
      $1,920,000
      12,463 SF

      201-205 Corporate Pl

      MEDICAL BUILDING • 12,463 SF
      201-205 Corporate Pl, Alcoa, TN 37701
      View Details
    • Value Estimation
      $1,310,000
      8,095 SF

      352 Fountain Vw Cir

      MEDICAL BUILDING • 8,095 SF
      352 Fountain Vw Cir, Alcoa, TN 37701-1945
      View Details
    • Value Estimation by Request
      1,739 SF

      343 Gill St

      MEDICAL BUILDING • 1,739 SF
      343 Gill St, Alcoa, TN 37701-2415
      View Details
    • Value Estimation
      $505,000
      2,756 SF

      207 Kings Ct

      MEDICAL BUILDING • 2,756 SF
      207 Kings Ct, Alcoa, TN 37701-1939
      View Details

    Similar Nearby for Sale

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      5,592 SF

      Mixed-Use Building in Alcoa

      High-visibility property with tenant and potential owner-occupier space.
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      View Details
    • $499,899
      0.28 Acres

      Alcoa Live-Work Opportunity

      Versatile live-work property in Alcoa, TN with commercial potential.
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    • $969,231
      2,000 SF

      Freestanding Subway on Alcoa Hwy

      High-traffic Subway with NNN lease and renewal potential.
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      View Details
    • $379,900
      Pending

      Alcoa, TN Commercial Land

      Level 1+ acre lot in desirable Springbrook area.
      N Wright Rd, Alcoa, TN 37701
      View Details
    • $1,250,000

      Hunters Crossing Out Parcel

      Commercial land parcel available for sale or ground lease.
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    • Contact for pricing
      6,078 SF

      Prime Retail Space in Alcoa

      Ground-level retail space in a high-traffic Alcoa location.
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    Similar Nearby for Lease

    • $16 SF/Yr
      2,498 SF

      Alcoa Highway Office Space

      Ground floor office space with convenient highway access.
      269 Airport Plaza Blvd, Alcoa, TN 37701
      View Details
    • $14 SF/Yr
      56,604 SF

      Alcoa Office/Flex Space For Lease

      35,000 SF office/flex space near McGhee Tyson Airport.
      3429 Regal Dr, Alcoa, TN 37701
      View Details
    • $2,000 /Mo
      3,600 SF

      Affordable Office Space For Rent

      Lower level office space available for sublease in Alcoa.
      226 Gill St, Alcoa, TN 37701
      View Details
    • $16 SF/Yr
      16,359 SF

      Small Office Space with Parking

      Convenient office space near the airport with ample parking.
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      View Details
    • $16 SF/Yr
      16 SF

      Small Office Space Available

      695 SF office space with reception and conference room.
      269 Cusick Rd, Alcoa, TN 37701
      View Details
    • $17 SF/Yr
      6,200 SF

      Office/Flex Space For Lease

      New construction office/flex space available near airport and interstates.
      125 Kent Pl, Alcoa, TN 37701
      View Details
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    241-245 Joule St
    Alcoa, TN 37701
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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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