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    2721 Wright Rd, Unit 2727 Alcoa, TN 37701-3152

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    2721 Wright Rd, Unit 2727 Alcoa, TN 37701-3152

    View on Map
    • Retail space
    • 3,800 SF
    • 1.03 lot acres
    Off-Market
    Last Sale Mar 11, 2024
    $475,000
    Property ID
    US80-0799711
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cruze's Tint n Tunes / Interior Design / Auto Repair Shop

    Property Details for 2721 Wright Rd

    Year built
    1968
    Lot size
    1.03 lot acres
    Property size
    3,800 SF
    Zone code
    E
    Property type
    Retail space
    APN
    005026E A 00100
    APU
    005026EA00100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Alcoa
    County
    Blount
    State
    Tennessee
    Longitude
    -83.9784
    Latitude
    35.8194
    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
    $9,035
    $122,720
    $150,560
    $273,280
    -
    $306,800
    $376,400
    $683,200

    Comparable in this City

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      $745,000
      7,800 SF

      250 Hall Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,800 SF
      250 Hall Rd, Alcoa, TN 37701-2642
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    • Value Estimation by Request
      3,572 SF

      364 Lindsay St

      RETAIL STORES (PERSONAL SERVICES) • 3,572 SF
      364 Lindsay St, Alcoa, TN 37701-2412
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    • Value Estimation
      $840,000
      7,461 SF

      1885 Louisville Rd, Unit 1897

      RETAIL STORES (PERSONAL SERVICES) • 7,461 SF
      1885 Louisville Rd, Alcoa, TN 37701-1623
      View Details
    • Value Estimation by Request
      4,320 SF

      279 Ave B B

      RETAIL STORES (PERSONAL SERVICES) • 4,320 SF
      279 Ave B B, Alcoa, TN 37701-2437
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    • Value Estimation
      $680,000
      4,564 SF

      3775 Alcoa Hwy

      RETAIL STORES (PERSONAL SERVICES) • 4,564 SF
      3775 Alcoa Hwy, Alcoa, TN 37701-3267
      View Details
    • Value Estimation
      $1,120,000
      5,100 SF

      110 Calderwood St

      RETAIL STORES (PERSONAL SERVICES) • 5,100 SF
      110 Calderwood St, Alcoa, TN 37701-2104
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      1.27 acres of land available for purchase.
      Hunters Xing Dr & Middlesettlements Rd, Alcoa, TN 37701
      View Details
    • $1,600,000

      Former Restaurant Opportunity For Sale

      Well-maintained restaurant property with drive-thru and included equipment.
      523 Louisville Rd, Alcoa, TN 37701
      View Details
    • $969,231
      2,000 SF

      Freestanding Subway on Alcoa Hwy

      High-traffic Subway with NNN lease and renewal potential.
      2580 Alcoa Hwy, Alcoa, TN 37701
      View Details
    • $379,900
      1.03 Acres

      Alcoa, TN Commercial Land

      Level 1+ acre lot in desirable Springbrook area.
      N Wright Rd, Alcoa, TN 37701
      View Details
    • $499,900
      88,862 SF

      Vacant Commercial Land in Alcoa

      2+ acres of mixed-use land near shopping and dining.
      250 South Rankin Rd, Alcoa, TN 37701
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr
      19,631 SF

      Retail Space in Alcoa Shopping District

      Retail spaces in Alcoa's primary shopping district with high visibility.
      459 Marilyn Ln, Alcoa, TN 37701
      View Details
    • Contact for pricing

      Freestanding Building on Calderwood Street

      Single-tenant building with drive-thru potential in high-traffic location.
      348 S Calderwood St, Alcoa, TN 37701
      View Details
    • $1.00 SF/Yr

      Retail Space in Alcoa

      Retail space in Alcoa's primary shopping district for rent.
      459 Marilyn Ln, Alcoa, TN 37701
      View Details
    • Contact for pricing

      Freestanding Retail Building with Drive-Thru

      Single-tenant building with drive-thru, high visibility, and ample parking.
      348 S Calderwood St, Alcoa, TN 37701
      View Details
    • $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
    • $16 SF/Yr
      16,359 SF

      Small Office Space with Parking

      Convenient office space near the airport with ample parking.
      269 Cusick Rd./186 Airport Plz, Alcoa, TN 37701
      View Details
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    Alcoa, TN 37701-3152
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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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