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    264 Peters Rd Knoxville, TN 37923-5203
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    Property profile & analytics

    264 Peters Rd, Knoxville, TN 37923-5203

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    • Medical Office Space
    • 5,120 SF
    Off-Market
    Last Sale Jan 29, 2025
    $1,700,000
    Property ID
    US80-2035974
    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.
    Value Estimations
    $1,320,000
    Show details
    Cap Rate Potential
    5.1%
    Medical Office Space
    Location Intelligence

    Current Use by Public Records

    • Prestige Cleaners Inc / (Bike/Boat/Book/etc) Store
    • The Tee Spot / Marketing & Advertising / Printing Service
    • First State Finance / Bank / Loan Service
    • Living Tree Lab / Dental Office
    • Cutshaw Dental Lab / Dental Office

    Property Details for 264 Peters Rd

    Year built
    2011
    Property type
    Medical Office Space
    Property subtype
    Medical space
    APN
    132 03417
    APU
    13203417

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 29, 2025 $1,700,000 Bennett And Bella LLC Malone And Malone LLC Warranty Deed $1.4M · Southeast Bank
    Jun 28, 2013 — Knoxville Smiles LLC D & G PC Quit Claim Deed · related $850k · Mountain Commerce Bank
    Jun 20, 2013 — D PC Emerald Inv LP Of Knoxville Quit Claim Deed · related —
    — — James G Rickman — Loan Modification · related $532k · First Tennessee Bank National

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,280,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,085,000
      6.5%
      $1,000,000
      7%
      $930,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,115,000
      Market price range: $509k - $1.42M
      AI Estimate
      $1,115,000
      Market price range: $509k - $1.42M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,040,000
      Current use
      RESTAURANT
      $2,135,000
      Change: +106% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,595,000
      Change: +54% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $985,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -84.0784
    Latitude
    35.9086
    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
    $0.00
    $0.00
    $0.00
    $410,960
    -
    $447,100
    $580,300
    $1,027,400

    Comparable in this City

    • Value Estimation
      $4,750,000
      22,145 SF

      9320 Park W Blvd

      MEDICAL BUILDING
      9320 Park W Blvd, Knoxville, TN 37923-4301
      View Details
    • Value Estimation
      $1,725,000
      12,600 SF

      9316 Park W Blvd

      MEDICAL BUILDING
      9316 Park W Blvd, Knoxville, TN 37923
      View Details
    • Value Estimation
      $1,080,000
      5,985 SF

      240 Peters Rd

      MEDICAL BUILDING
      240 Peters Rd, Knoxville, TN 37923-5226
      View Details
    • Value Estimation
      $960,000
      6,404 SF

      259 Peters Rd Ste, Unit 101

      MEDICAL BUILDING
      259 Peters Rd Ste, Knoxville, TN 37923-4923
      View Details
    • Value Estimation
      $4,945,000
      32,564 SF

      9333 Park W Blvd

      MEDICAL BUILDING
      9333 Park W Blvd, Knoxville, TN 37923-4341
      View Details
    • Value Estimation
      $1,335,000
      10,680 SF

      8904 Cross Park Dr

      MEDICAL BUILDING
      8904 Cross Park Dr, Knoxville, TN 37923-4703
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Knoxville Medical Office Space Available

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      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.
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      Cedar Bluff Office Building

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      Prime Commercial Land Opportunity

      2.33-acre commercial land for retail or commercial development.
      N Gallaher View Rd, Knoxville, TN 37923
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      Pending

      Renovated Condo Near Amenities

      Ground-floor condo with modern updates and community amenities.
      8500 Brasilia Ct, Knoxville, TN 37923
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      West Knoxville Land For Sale

      Land available in a mixed-use area near retail.
      321 N Gallaher View Rd NW, Knoxville, TN 37923
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    Similar Nearby for Lease

    • $18 SF/Yr

      8904 Cross Park Dr, Knoxville, TN 37923

      Medical Office Space
      8904 Cross Park Dr, Knoxville, TN 37923
      View Details
    • Contact for pricing
      5,000 SF

      North Cedar Bluff Office Space

      Easily accessible office/medical space in North Cedar Bluff.
      1028 Old Cedar Bluff Rd, Knoxville, TN 37923
      View Details
    • Contact for pricing
      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
    • 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
    • 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
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    Knoxville, TN 37923-5203
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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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