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Property profile & analytics
OFF-MARKET
Estimated value
$1,815,000
Medical Office Space
3004 Andrew Johnson Hwy Morristown, TN 37814-3615
Entity Owned
3-yr Hold
Free & Clear
Property ID
US80-1818630
Property summary
AI-generated overview
This exceptional retail property, located at 3004 W Andrew Johnson Highway in Morristown, Tennessee, offers 15,354 square feet of total building space. Currently, there is 4,666 square feet of vacant space available for lease, perfect for a variety of retail businesses. The property is situated in Hamblen County, zip code 37814, and benefits from high visibility and accessibility due to its location on W Andrew Johnson Highway. The building is classified as multi-tenant, presenting an opportunity for expansion or collaboration with existing tenants. The available space provides ample room for a substantial retail operation, offering significant potential for growth and profitability. This prime location in Morristown offers easy access to a thriving community and strong consumer base. The property's size and layout are ideal for businesses seeking a prominent presence in a busy commercial area. Interested parties are encouraged to inquire about lease terms and conditions to explore this exciting opportunity. The property is categorized as retail commercial space. The address is 3004 W Andrew Johnson Hwy, Morristown, TN 37814.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1968
Construction
WOOD
Total area
16,536 SF
Lot
2.56 ac (111,514 SF)
APN
032041A A 06301
UPID
US80-1818630
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
ImmunoTek Plasma Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.87M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.98M
Blend (final)
Blend
$1.82M
Owner & transaction history
Gagnard Real Estate Properties LLC · 3 yrs held
Gagnard Real Estate Properties LLC
since 2023
Last sale
$1.7M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.7M
+11.8%
Commercial (general)
$1.7M
+6.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,875,000
ML approach
$1,865,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,545,000
Current use
AUTO REPAIR, GARAGE
$1,725,000
Change: +12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,650,000
Change: +7% · Conversion: Easy
RESTAURANT
$1,290,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.82M
Range $1.63M – $2.00M · ±10% · vs last sale $1.68M (Jul 10 2023)
Last sale anchor
$1.68M
Jul 10 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$110 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$769,240
Assessed 2023
Previous assessed
$387,600
+98.5% YoY
Assessed land
$266,360
Assessed improvement
$502,880
Land market value
$665,900
Improvement market value
$1,257,200
Total market value
$1,923,100
Applied tax rate
32.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1968
Construction
WOOD
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Units
1
Rooms
1
Bathrooms
2
Total area
16,536 SF
Lot
2.56 ac (111,514 SF)
APN
032041A A 06301
UPID
US80-1818630
Jurisdiction
HAMBLEN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.7M
RESTAURANT
Est. value
$1.3M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1968
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
1
Bathrooms
2
Lot
2.56 ac
Current owner
From public records · entity-resolved
Gagnard Real Estate Properties LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1100 CAMELLIA BLVD, LAFAYETTE, LA 70508-6671
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 2023
—
Gagnard Real Estate Properties LLC
Rr Company Of America LLC
Quit Claim Deed
related
—
Apr 28, 2022
—
Rr Company Of America LLC
—
Deed
related
$3,974,584 · Whitney Bank
Jan 3, 2022
$1,675,000
Rr Company Of America LLC
Katherine Bell Austin
Warranty Deed
—
Feb 19, 2020
—
Steven W Isaacs
Steven W Isaacs
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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