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    Property profile & analytics

    245 Central Ave La Follette, TN 37766-3676

    • Retail space
    • 28,800 SF
    • 0.36 lot acres
    OFF-MARKET
    Last Sale
    Dec 20, 2022
    $240,000
    Value Estimations
    $215,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0131058
    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

    • ATM / Atm
    • FUZED LED HEADLIGHTS / Auto Parts Store / Service Establishment
    • Gigi Dance Academy / Dance School

    Property Details for 245 Central Ave

    Year built
    1935
    Lot size
    0.36 lot acres
    Property size
    28,800 SF
    Property type
    Retail space
    APN
    085J B 00900
    APU
    085JB00900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $215,000
      ML approach
      $300,000

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

    Location Insight

    • Map
    • Local Demand
    City
    La Follette
    County
    Campbell
    State
    Tennessee
    Longitude
    -84.1206
    Latitude
    36.3828
    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
    $27,360
    $106,880
    $134,240
    -
    $68,400
    $267,200
    $335,600

    Comparable in this City

    • Value Estimation
      $265,000
      1,425 SF

      165 10th Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,425 SF
      165 10th Ave, La Follette, TN 37766-2426
      View Details
    • Value Estimation
      $245,000
      2,175 SF

      175 10th Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,175 SF
      175 10th Ave, La Follette, TN 37766-2426
      View Details
    • Value Estimation
      $270,000
      684 SF

      173 10th Ave

      RETAIL STORES (PERSONAL SERVICES) • 684 SF
      173 10th Ave, La Follette, TN 37766-2426
      View Details
    • Value Estimation
      $275,000
      9,240 SF

      102 5th St

      RETAIL STORES (PERSONAL SERVICES) • 9,240 SF
      102 5th St, La Follette, TN 37766-2472
      View Details
    • Value Estimation
      $245,000
      588 SF

      228 Central Ave

      RETAIL STORES (PERSONAL SERVICES) • 588 SF
      228 Central Ave, La Follette, TN 37766-3519
      View Details
    • Value Estimation
      $225,000
      7,300 SF

      604 Central Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,300 SF
      604 Central Ave, La Follette, TN 37766-3424
      View Details

    Similar Nearby for Sale

    • $775,000
      14,916 SF

      Mixed-Use Building in Downtown LaFollette

      Mixed-use building with retail space and apartments in LaFollette.
      101 E Central Ave, La Follette, TN 37766
      View Details
    • $460,000
      7,000 SF

      7,000 SF Steel Building

      7,000 SF steel building divided into two tenant spaces.
      207 W Central Ave, La Follette, TN 37766
      View Details
    • $440,000
      2,100 SF

      Retail Building on Jacksboro Pike

      Retail building with recent updates and high-traffic location.
      1913 Old Jacksboro Hwy, La Follette, TN 37766
      View Details
    • $979,500
      14,916 SF

      Historic Downtown La Follette Gem

      Mixed-use building, 14,916 sq ft, vacant.
      101 Central Ave, LaFollette, TN 37766
      View Details
    • $1,999,900
      76.40 Acres

      Norris Lakefront Development Land

      76 Acres, Lakefront, Development Ready
      0 Dykes Ln, LaFollette, TN 37766
      View Details
    • $425,000
      8.93 Acres

      Land Near Norris Lake

      8.9-acre property near Norris Lake with many improvements.
      2938 Cedar Creek Rd, La Follette, TN 37766
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      1,800 SF

      Retail Space in Valley View Plaza

      Retail space available in grocery-anchored neighborhood shopping center.
      1707 E Central Ave, La Follette, TN 37766
      View Details
    • $28 SF/Yr
      1,763 SF

      Retail Space on Jacksboro Pike

      Retail space for lease with high traffic counts.
      2220-2230 Jacksboro Pike, La Follette, TN 37766
      View Details
    • $11 SF/Yr
      34,536 SF

      La Follette Retail Space Available

      Prime Retail Space, High Visibility, 4.33 Acres
      1717 Central Ave, LaFollette, TN 37766
      View Details
    • $28 SF/Yr
      4,000 SF

      LaFollette Retail Center Investment

      Prime LaFollette location, high traffic counts.
      2230 Jacksboro Pike, LaFollette, TN 37766
      View Details
    • $1.00 SF/Yr
      5,688 SF

      Medical Office Ready for Occupancy

      Vacant medical office space, previously a dialysis center.
      305 River Dr, La Follette, TN 37766
      View Details
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    245 Central Ave
    La Follette, TN 37766-3676
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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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