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    3244 Park Dr Knoxville, TN 37921-7516
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    Property profile & analytics

    3244 Park Dr, Knoxville, TN 37921-7516

    View on Map
    • Super regional malls
    • 8,650 SF
    • 10.00 lot acres
    Off-Market
    Property ID
    US80-0775264
    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
    $1,665,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ABF Freight / Trucking Company
    • ABF Freight System Inc / Trucking Company

    Property Details for 3244 Park Dr

    Year built
    1990
    Construction
    CONCRETE BLOCKS
    Lot size
    10.00 lot acres
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    067 22501
    APU
    6722501

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 1, 2009 $1,087,500 Express Lines Estes Yrc INC Grant Deed —
    Feb 3, 2009 — Yrc INC — Deed Of Trust · related $1,100M · J P Morgan Chase Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,665,000
      Market price range: $523k - $2.89M
      AI Estimate
      $1,665,000
      Market price range: $523k - $2.89M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,665,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,700,000
      Change: +62% Conversion: Difficult
      MEDICAL BUILDING
      $1,755,000
      Change: +5% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,385,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -84.0329
    Latitude
    36.0031
    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
    $0.00
    -
    $408,000
    $633,900
    $1,041,900

    Comparable in this City

    • Value Estimation
      $1,055,000
      17,442 SF

      116 Heins St

      REGIONAL SHOPPING CENTER, MALL
      116 Heins St, Knoxville, TN 37921-6301
      View Details
    • Value Estimation
      $1,065,000
      5,525 SF

      3545 Middlebrook Pike

      REGIONAL SHOPPING CENTER, MALL
      3545 Middlebrook Pike, Knoxville, TN 37921-6676
      View Details
    • Value Estimation by Request
      4,048 SF

      1744 Louisville Dr

      REGIONAL SHOPPING CENTER, MALL
      1744 Louisville Dr, Knoxville, TN 37921-5952
      View Details
    • Value Estimation
      $23,365,000
      121,330 SF

      1901 Vermont Ave

      REGIONAL SHOPPING CENTER, MALL
      1901 Vermont Ave, Knoxville, TN 37921
      View Details
    • Value Estimation
      $7,490,000
      38,894 SF

      1719 Reynolds St

      REGIONAL SHOPPING CENTER, MALL
      1719 Reynolds St, Knoxville, TN 37921-4761
      View Details
    • Value Estimation by Request
      3,042 SF

      508 Mcghee Ave

      REGIONAL SHOPPING CENTER, MALL
      508 Mcghee Ave, Knoxville, TN 37921-6459
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Corner Commercial Parcel For Sale

      Nearly half-acre commercial parcel with redevelopment potential in Western Heights.
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      10,488 SF

      Highway Commercial Property For Lease

      C-H-1 commercial property with high visibility and traffic.
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    • $65,000
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      Cleared Land in Knoxville, TN

      Cleared, combined city lots ready for development near downtown Knoxville.
      1723 Maryland Ave, Knoxville, TN 37921
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    • $30,000
      0.13 Acres

      Land in Knoxville, Tennessee

      Affordable land near downtown Knoxville and UT Campus.
      3339 Johnston St, Knoxville, TN 37921
      View Details
    • $4,250,000
      Pending

      Knoxville Development Property: 57 Acres

      57 acres of development property centrally located in Northwest Knoxville.
      Orabella Rd, Knoxville, TN 37921
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    • $300,000
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      Knoxville Land: Build Your Dream

      5.6-acre vacant lot near Knoxville to build your dream home.
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    Similar Nearby for Lease

    • Contact for pricing
      4,764 SF

      Retail Space in Established Corridor

      Retail space with easy access and abundant parking.
      4424-4458 Western Ave, Knoxville, TN 37921
      View Details
    • Contact for pricing
      15,166 SF

      Warehouse with Showroom and Storage

      Warehouse space with showroom and fenced outdoor storage available for lease.
      5227 Middlebrook Pike, Knoxville, TN 37921
      View Details
    • Contact for pricing
      4,375 SF

      Retail Space Available For Lease

      Retail space available for lease, totaling 4,375 square feet.
      5711 Western Ave, Knoxville, TN 37921
      View Details
    • Contact for pricing
      72,000 SF

      Industrial Space Sublease Opportunity

      72,000 SF industrial space available for sublease near I-40/I-75.
      5700 Casey Dr, Knoxville, TN 37921
      View Details
    • Contact for pricing
      5,188 SF

      Midpark Rd Office For Lease

      Second story office space with mix of private and larger offices.
      1832 Midpark Rd, Knoxville, TN 37921
      View Details
    • Contact for pricing
      6,500 SF

      Workman Rd Office Space Available

      6,500 SF mezzanine office space for lease.
      3585 Workman Rd, Knoxville, TN 37921
      View Details
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    Knoxville, TN 37921-7516
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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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