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

    4722 Western Ave Knoxville, TN 37921-3303

    • Medical offices
    • 3,530 SF
    OFF-MARKET
    Value Estimations
    $545,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0695899
    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

    • Allee Vision Optometry / Physician
    • Dr. Michael Allee / Physician
    • Jennifer Allee / Physician

    Property Details for 4722 Western Ave

    Year built
    1978
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Property size
    3,530 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    093GC00203
    APU
    093GC00203

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $547,000
      Market price range: $351k - $982k
      AI Estimate
      $547,000
      Market price range: $351k - $982k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $715,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $680,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -83.9952
    Latitude
    35.9754
    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
    $7,480
    $0.00
    $0.00
    $201,640
    -
    $244,000
    $260,100
    $504,100

    Comparable in this City

    • Value Estimation by Request
      3,720 SF

      4320 Ball Cp Pike

      MEDICAL BUILDING • 3,720 SF
      4320 Ball Cp Pike, Knoxville, TN 37921-3312
      View Details
    • Value Estimation
      $850,000
      3,069 SF

      4329 Ball Cp Pike

      MEDICAL BUILDING • 3,069 SF
      4329 Ball Cp Pike, Knoxville, TN 37921-3313
      View Details
    • Value Estimation by Request
      2,342 SF

      4337 Ball Cp Pike

      MEDICAL BUILDING • 2,342 SF
      4337 Ball Cp Pike, Knoxville, TN 37921-3313
      View Details
    • Value Estimation
      $1,850,000
      9,120 SF

      1925 Ailor Ave, Unit 101

      MEDICAL BUILDING • 9,120 SF
      1925 Ailor Ave, Knoxville, TN 37921-5804
      View Details
    • Value Estimation
      $1,890,000
      10,527 SF

      1740 Western Ave

      MEDICAL BUILDING • 10,527 SF
      1740 Western Ave, Knoxville, TN 37921-6739
      View Details
    • Value Estimation
      $715,000
      7,200 SF

      626 Bernard Ave

      MEDICAL BUILDING • 7,200 SF
      626 Bernard Ave, Knoxville, TN 37921-6253
      View Details

    Similar Nearby for Sale

    • $897,500

      Dental/Medical Office with Living Quarters

      Dental/Medical office with finished basement and living quarters for sale.
      5601 Western Ave, Knoxville, TN 37921
      View Details
    • $7,500,000

      Knoxville Facility with Long-Term Lease

      55,000 SF facility with AAA+ tenant and development potential.
      2600 Western Ave, Knoxville, TN 37921
      View Details
    • $300,000
      5.60 Acres

      Knoxville Land: Build Your Dream

      5.6-acre vacant lot near Knoxville to build your dream home.
      2834 Bradley Lake Ln, Knoxville, TN 37921
      View Details
    • $4,250,000
      57.80 Acres

      Knoxville Development Property: 57 Acres

      57 acres of development property centrally located in Northwest Knoxville.
      Orabella Rd, Knoxville, TN 37921
      View Details
    • New
      $390,000
      13.49 Acres

      Knoxville Land Parcel For Sale

      13+ acre Knoxville property with development potential.
      5309 Nickle Rd, Knoxville, TN 37921
      View Details
    • New
      $65,000
      Pending

      Residential Lot in Knoxville, TN

      Vacant lot near downtown Knoxville with multi-family potential.
      3225 Joyce Ave, Knoxville, TN 37921
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      2,724 SF

      Open Office Space For Lease

      2,724 SF open office space near I-40.
      1701 Louisville Dr, Knoxville, TN 37921
      View Details
    • $10 SF/Yr
      22,000 SF

      Midpark Road Office For Lease

      22,000 SF office space suitable for various office uses.
      1845 Midpark Rd, Knoxville, TN 37921
      View Details
    • $10 SF/Yr
      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
    • $12 SF/Yr
      6,500 SF

      Workman Rd Office Space Available

      6,500 SF mezzanine office space for lease.
      3585 Workman Rd, Knoxville, TN 37921
      View Details
    • $12 SF/Yr
      11,988 SF

      Spacious Open Office Space

      11,988 SF office space with open floor plan.
      1820 Midpark Rd, Knoxville, TN 37921
      View Details
    • $16 SF/Yr
      6,274 SF

      Knoxville Office Space For Rent

      Office space available for lease in Knoxville, Tennessee.
      1721 Midpark Rd, Knoxville, TN 37921
      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.
    4722 Western Ave
    Knoxville, TN 37921-3303
    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.