Sign Up Successful!
You now have access to more from Realmo!
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

    3103 Essary Dr Knoxville, TN 37918-2460

    • Residential income homes
    • 6,627 SF
    OFF-MARKET
    Value Estimations
    $1,630,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0377545
    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

    • Happy House Hunters, LLC / Real Estate Agent

    Property Details for 3103 Essary Dr

    Year built
    1972
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Property size
    6,627 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    058EA003
    APU
    058EA003

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,629,000
      Market price range: $669k - $1.67M
      AI Estimate
      $1,629,000
      Market price range: $669k - $1.67M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,230,000
      Current use
      MEDICAL BUILDING
      $1,345,000
      Change: +9% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $1,275,000
      Change: +4% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,060,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -83.9268
    Latitude
    36.0371
    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
    $12,329
    $0.00
    $0.00
    $332,360
    -
    $135,500
    $695,400
    $830,900

    Comparable in this City

    • Value Estimation
      $935,000
      6,912 SF

      6453 Son Lgt Way

      APARTMENT HOUSE (UNDER 5 UNITS) • 6,912 SF
      6453 Son Lgt Way, Knoxville, TN 37918-4049
      View Details
    • Value Estimation
      $745,000
      6,608 SF

      2523 Cedar Ln

      APARTMENT HOUSE (UNDER 5 UNITS) • 6,608 SF
      2523 Cedar Ln, Knoxville, TN 37918-2313
      View Details
    • Value Estimation
      $590,000
      3,744 SF

      6732 Langston Dr, Unit 101

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,744 SF
      6732 Langston Dr, Knoxville, TN 37918-5070
      View Details
    • Value Estimation
      $945,000
      6,912 SF

      6406 Son Lgt Way

      APARTMENT HOUSE (UNDER 5 UNITS) • 6,912 SF
      6406 Son Lgt Way, Knoxville, TN 37918-4040
      View Details
    • Value Estimation
      $1,640,000
      7,874 SF

      500 Knox Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 7,874 SF
      500 Knox Rd, Knoxville, TN 37918-3082
      View Details
    • Value Estimation
      $760,000
      6,264 SF

      5717 Madonna Cir

      APARTMENT HOUSE (UNDER 5 UNITS) • 6,264 SF
      5717 Madonna Cir, Knoxville, TN 37918-4000
      View Details

    Similar Nearby for Sale

    • $379,000
      1,998 SF

      Knoxville Condo with Modern Amenities

      Charming Knoxville condo with modern kitchen, balcony, and community amenities.
      7332 Shalimar Point Way, Knoxville, TN 37918
      View Details
    • $475,000
      Pending

      Remodeled Brick Duplex in Knoxville

      Recently remodeled Fountain City duplex with modern comfort and classic charm.
      5507 5Th St, Knoxville, TN 37918
      View Details
    • $599,000
      Pending

      Fountain City Duplex For Sale

      Two-story duplex in Fountain City with modern finishes.
      3429 Garden Dr, Knoxville, TN 37918
      View Details
    • $300,000

      Prime Knoxville Commercial Land Opportunity

      One-acre commercial land with high traffic exposure in Knoxville, TN.
      Crippen Rd, Knoxville, TN 37918
      View Details
    • $129,000
      Pending

      Residential Land with Mountain Views

      1.4-acre wooded lot in desirable North Knoxville neighborhood.
      5232 Beverly Oaks Dr, Knoxville, TN 37918
      View Details
    • $550,200
      2,620 SF

      Knoxville Office Condo: Prime Location

      Brand new, vacant office condo, 2620 sq ft.
      140 Legacy View Way, Knoxville, TN 37918
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,300 SF

      Retail Space For Lease

      Retail space available for lease in Halls Crossroads.
      7121 Maynardville Pike, Knoxville, TN 37918
      View Details
    • $6 SF/Yr
      23,300 SF

      North Knoxville Warehouse with Office

      23,300 SF warehouse with office space for lease.
      2415 Dutch Valley Dr, Knoxville, TN 37918
      View Details
    • $1,700 /Mo
      2,610 SF

      Fountain City Office Space

      Office space located in Fountain City, Knoxville.
      318 Knox Rd, Knoxville, TN 37918
      View Details
    • $4,500 /Mo

      Fountain City Commercial Land Available

      Almost one acre site perfect for various commercial uses.
      Woodrow Dr, Knoxville, TN 37918
      View Details
    • $16 SF/Yr
      3,480 SF

      Prime Office Suite, Harvest Towne Way

      3,480 sq ft Office, Excellent Location
      4840 Harvest Mill Way, Knoxville, TN 37918
      View Details
    • $15 SF/Yr
      10,566 SF

      Retail Space Available For Lease

      Retail space available for lease in Knoxville, Tennessee.
      6035 Tazewell Pike, Knoxville, TN 37918
      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.
    3103 Essary Dr
    Knoxville, TN 37918-2460
    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.