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

    251 Peters Rd Knoxville, TN 37923-4910

    • Casinos
    • 10,176 SF
    OFF-MARKET
    Value Estimations
    $1,670,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1014352
    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

    • Kimberly Barnett CPA PLLC / Accounting Firm / Tax Preparation
    • Paytime Solutions / Tax Preparation
    • Better Business Bureau (BBB of Greater East TN) / Charitable Organization / Social Service Agency

    Property Details for 251 Peters Rd

    Year built
    1993
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Property size
    10,176 SF
    Property type
    Casinos
    APN
    119 02904
    APU
    11902904

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,669,000
      Market price range: $985k - $2.05M
      AI Estimate
      $1,669,000
      Market price range: $985k - $2.05M

    • Alternative Use

      Use
      Estimation
      CASINO
      $1,520,000
      Current use
      MEDICAL BUILDING
      $2,065,000
      Change: +36% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,960,000
      Change: +29% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,625,000
      Change: +7% Conversion: Difficult
      RETAIL STORES
      $1,360,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -84.0856
    Latitude
    35.9155
    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
    $23,411
    $0.00
    $0.00
    $631,080
    -
    $840,400
    $737,300
    $1,577,700

    Comparable in this City

    • Value Estimation
      $1,130,000
      9,192 SF

      8844 Kingston Pike

      CASINO • 9,192 SF
      8844 Kingston Pike, Knoxville, TN 37923-5001
      View Details
    • Value Estimation by Request
      1,440 SF

      305 Ebenezer Rd

      CASINO • 1,440 SF
      305 Ebenezer Rd, Knoxville, TN 37923-5310
      View Details
    • Value Estimation
      $525,000
      3,108 SF

      9330 Park W Blvd, Unit 400

      CASINO • 3,108 SF
      9330 Park W Blvd, Knoxville, TN 37923-4308
      View Details
    • Value Estimation by Request
      1,860 SF

      239 Peters Rd

      CASINO • 1,860 SF
      239 Peters Rd, Knoxville, TN 37923-4910
      View Details
    • Value Estimation by Request
      2,000 SF

      9330 Park W Blvd Ste, Unit 206

      CASINO • 2,000 SF
      9330 Park W Blvd Ste, Knoxville, TN 37923-4310
      View Details
    • Value Estimation
      $1,800,000
      10,314 SF

      9245 Park W Blvd

      CASINO • 10,314 SF
      9245 Park W Blvd, Knoxville, TN 37923-4425
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Cedar Bluff Office Building

      68,000 SF office building in Cedar Bluff area.
      412 N Cedar Bluff Rd, Knoxville, TN 37923
      View Details
    • Contact for pricing

      West Knoxville Land For Sale

      Land available in a mixed-use area near retail.
      321 N Gallaher View Rd NW, Knoxville, TN 37923
      View Details
    • $300,000
      Pending

      Renovated Condo Near Amenities

      Ground-floor condo with modern updates and community amenities.
      8500 Brasilia Ct, Knoxville, TN 37923
      View Details
    • Contact for pricing

      Knoxville Medical Office Space Available

      Medical office space for sale in West Knoxville's Cedar Bluff.
      9051 Executive Park Dr, Knoxville, TN 37923
      View Details
    • Contact for pricing
      4,209 SF

      West Knoxville Office Condo

      Move-in ready office condo in West Knoxville with flexible layout.
      9111 Cross Park Dr, Knoxville, TN 37923
      View Details
    • Contact for pricing

      Prime Land in Century Park

      Pad-ready outparcels in Knoxville's first comprehensive office development.
      Dutchtown Rd, Knoxville, TN 37923
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Comfortable Office Space For Rent

      Centrally located office space with ample parking and local amenities.
      200 Prosperity Dr, Knoxville, TN 37923
      View Details
    • Contact for pricing
      2,100 SF

      Refined Office Space Available

      Functional office space perfect for professional services and client meetings.
      8862 Cedar Springs Ln, Knoxville, TN 37923
      View Details
    • $19 SF/Yr
      3,826 SF

      Move-in Ready Office Space

      Office space with natural light, kitchen, and restrooms available for rent.
      9050 Executive Park Dr, Knoxville, TN 37923
      View Details
    • Sponsored
      Contact for pricing

      Cedar Bluff

      Discover many ways to work your way in Cedar Bluff
      200 Prosperity Dr, Knoxville, TN 37923
      View Details
    • Contact for pricing

      Modern Office Space in Knoxville

      Convenient West Knoxville office space with modern amenities.
      408 N Cedar Bluff Rd, Knoxville, TN 37923
      View Details
    • $25 SF/Yr

      Cedar Bluff Office Space Available

      4,600 SF office space for lease in Knoxville, TN.
      255 N Peters Rd, Knoxville, TN 37923
      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.
    251 Peters Rd
    Knoxville, TN 37923-4910
    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!