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    3116 Rennoc Rd Knoxville, TN 37918-1822
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    Property profile & analytics

    3116 Rennoc Rd, Knoxville, TN 37918-1822

    View on Map
    • Residential income homes
    • 7,378 SF
    • 0.36 lot acres
    Off-Market
    Property ID
    US80-0052465
    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
    $760,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Grace Apartments / Apartment Building

    Property Details for 3116 Rennoc Rd

    Year built
    1975
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.36 lot acres
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    058LF001
    APU
    058LF001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 24, 2009 — Alan C Bennett Grace Apartments LLC Quit Claim Deed · related —
    Sep 20, 2005 — Grace Apartments LLC Bennett,alan & Joan Quit Claim Deed · related —
    Feb 25, 2005 $334,750 Alan Bennett Johnson,anthony L & Shanna M Warranty Deed $113k · Commercial Bank
    Aug 14, 2003 $313,700 Anthony L Johnson Saratoga Apartments Grant Deed $242k · Suntrust Bank NA
    Dec 1, 2000 $270,000 Mike Ramsey Saratoga Apartments Grant Deed $270k · Suntrust Bank NA
    Jan 28, 1988 $166,533 Harry S George Unknown, Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $759,000
      Market price range: $745k - $1.86M
      AI Estimate
      $759,000
      Market price range: $745k - $1.86M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,180,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -83.9227
    Latitude
    36.0294
    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
    $3,339
    $0.00
    $0.00
    $154,880
    -
    $54,500
    $332,700
    $387,200

    Comparable in this City

    • Value Estimation
      $935,000
      6,912 SF

      6453 Son Lgt Way

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

      5717 Madonna Cir

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

    Similar Nearby for Sale

    • New
      $595,000
      4,773 SF

      Fully Occupied 4-Plex Investment

      A fully leased four-unit property with in-unit laundry hookups and separate utility/laundry rooms at the rear.
      2816 NE Colt Dr, Knoxville, TN 37918
      View Details
    • New
      $595,000
      4,727 SF

      Occupied 4-Plex with Storage Basement

      Fully occupied four-unit property with month-to-month leases, on-site parking, and washer/dryer hookups in each unit.
      2828 NE Colt Dr, Knoxville, TN 37918
      View Details
    • $374,900
      Pending

      Knoxville Multifamily Investment Opportunity

      2.86 acres with 3 manufactured homes, expansion potential.
      6435 Hubert Bean Rd, Knoxville, TN 37918
      View Details
    • Contact for pricing
      25,316 SF

      Industrial Redevelopment Opportunity in Knoxville

      2.97-acre site with 25,316 SF building near Happy Holler.
      4001 Bruhin Rd, Knoxville, TN 37918
      View Details
    • $500,000
      4.28 Acres

      Knoxville Multifamily Investment Opportunity

      Two homes plus hookup on 4.28 acres in Knoxville.
      4127/4129 Crippen Rd, Knoxville, TN 37918
      View Details
    • $657,000
      5.62 Acres

      Land For Sale, Knoxville, TN

      Two parcels of land totaling 5.62 acres in Knoxville.
      3331 New Beverly Church Rd, Knoxville, TN 37918
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office/Retail Space Available For Rent

      3,100 SF office space suitable for medical or traditional use.
      4620 Old Broadway St, Knoxville, TN 37918
      View Details
    • Contact for pricing

      Warehouse Space in Knoxville

      4,500 SF warehouse space for sublease in Knoxville.
      4157 Appalachian Way, Knoxville, TN 37918
      View Details
    • Contact for pricing
      3,480 SF

      Office Suite For Rent

      3,480 Sq. Ft. office suite available for lease.
      4840-4856 Harvest Mill Way, Knoxville, TN 37918
      View Details
    • Contact for pricing
      10,566 SF

      Retail Space Available For Lease

      Retail space available for lease in Knoxville, Tennessee.
      6035 Tazewell Pike, Knoxville, TN 37918
      View Details
    • Contact for pricing
      8,550 SF

      Retail Space on Maynardville Pike

      Retail space available for lease in Knoxville, Tennessee.
      7114-7202 Maynardville Pike, Knoxville, TN 37918
      View Details
    • Contact for pricing

      Medical Office Suites Available

      Medical office suites available in professional office building.
      2606 Greenway Dr, Knoxville, TN 37918
      View Details
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    3116 Rennoc Rd
    Knoxville, TN 37918-1822
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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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    3116 Rennoc Rd, Knoxville, TN, 37918
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