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    3411 W Andrew Johnson Hwy Morristown, TN 37814
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    Property profile & analytics

    3411 W Andrew Johnson Hwy, Morristown, TN 37814

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    • Drive through restaurants
    • 3,418 SF
    • 0.80 lot acres
    For Sale
    $720,000
    View Listing →
    Freestanding Restaurant with Drive-Thru For Sale
    $720,000

    Freestanding Restaurant with Drive-Thru

    Single tenant restaurant in dense retail corridor with drive-thru.

    3411 W Andrew Johnson Hwy, Morristown, TN 37814
    View Listing
    Property ID
    US80-0954422
    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

    • Southern Care Veterinary Hospital / Veterinary Clinic
    • Itako hibachi Japanese grill / Restaurant

    Property Details for 3411 W Andrew Johnson Hwy

    Year built
    1970
    Construction
    WOOD
    Lot size
    0.80 lot acres
    Property type
    Drive through restaurants
    APN
    032041H A 00601
    APU
    032041HA00601

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $510,000
      ML approach
      $555,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $772,000
      Market price range: $338k - $1.59M

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

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Hamblen
    State
    Tennessee
    Longitude
    -83.3414
    Latitude
    36.1985
    CBSA code
    34100
    CBSA name
    MORRISTOWN, 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
    0
    $0.00
    $108,480
    $82,640
    $191,120
    -
    $271,200
    $206,600
    $477,800

    Comparable in this City

    • Value Estimation by Request
      3,520 SF

      2304 Andrew Johnson Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD
      2304 Andrew Johnson Hwy, Morristown, TN 37814-3208
      View Details
    • Value Estimation by Request
      4,125 SF

      1715 Buffalo Trl

      DRIVE-THRU RESTAURANT, FAST FOOD
      1715 Buffalo Trl, Morristown, TN 37814-4249
      View Details
    • Value Estimation
      $930,000
      2,662 SF

      4158 Roberts Ln

      DRIVE-THRU RESTAURANT, FAST FOOD
      4158 Roberts Ln, Morristown, TN 37814-2224
      View Details
    • Value Estimation by Request
      1,948 SF

      3500 Andrew Johnson Hwy

      DRIVE-THRU RESTAURANT, FAST FOOD
      3500 Andrew Johnson Hwy, Morristown, TN 37814-3639
      View Details
    • Value Estimation
      $1,895,000
      1,275 SF

      1960 Morris Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD
      1960 Morris Blvd, Morristown, TN 37814-3764
      View Details
    • Value Estimation
      $1,905,000
      2,821 SF

      Roberts Ln

      DRIVE-THRU RESTAURANT, FAST FOOD
      Roberts Ln, Morristown, TN 37814
      View Details

    Similar Nearby for Sale

    • $720,000

      Freestanding Restaurant with Drive-Thru

      Single tenant restaurant in dense retail corridor with drive-thru.
      3411 W Andrew Johnson Hwy, Morristown, TN 37814
      View Details
    • $499,000
      Pending

      Morristown Commercial Building with Kitchen

      9,180 SF commercial building with kitchen on 1.6 acres.
      821 Lincoln Ave, Morristown, TN 37814
      View Details
    • Contact for pricing
      4,004 SF

      Turn-Key Restaurant Ready for Lease

      Restaurant in excellent condition with parking and remodeled interior.
      1716 W Andrew Johnson Hwy, Morristown, TN 37814
      View Details
    • Contact for pricing
      9,180 SF

      Versatile Building with Commercial Kitchen

      9,180 SF building with kitchen on 1.6 acres.
      821 Lincoln Ave, Morristown, TN 37814
      View Details
    • $140,000
      1.86 Acres

      Morristown Commercial Land For Sale

      Commercial property suitable for various business and residential uses.
      1815 Country Club Dr, Morristown, TN 37814
      View Details
    • Contact for pricing
      8,849 SF

      Land and Building For Sale

      Land and building available for sale.
      2747 W Andrew Johnson Hwy, Morristown, TN 37814
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      41,117 SF

      Freestanding Retail Building with Drive-Thru

      41,117 SF retail space with drive-thru in Morristown, TN.
      1757 West Andrew Johnson Hwy, Morristown, TN 37814
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space in Shopping Center

      Retail space available in a busy shopping center.
      2342 E Andrew Johnson Hwy, Morristown, TN 37814
      View Details
    • Contact for pricing

      Adaptable Retail/Office Space Available

      2418 SF adaptable space near Davy Crockett Pkwy.
      1629 E Andrew Johnson Hwy, Morristown, TN 37814
      View Details
    • Contact for pricing
      2,867 SF

      Office/Retail Space For Lease

      2,800 sq ft space ideal for medical, retail, or office.
      2106 E Andrew Johnson Hwy, Morristown, TN 37814
      View Details
    • $26 SF/Yr

      Retail/Office Space Near Walmart

      2,400 SF endcap space in high-traffic retail area.
      4329 W Andrew Johnson Hwy, Morristown, TN 37814
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space in Morristown Center

      Retail space available in shopping center with ample parking.
      2304-2342 E Andrew Johnson Hwy, Morristown, TN 37814
      View Details
    View Listing
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    Morristown, TN 37814
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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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