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Property profile & analytics
OFF-MARKET
Estimated value
$23,535,000
Hotels
507 Gay St Knoxville, TN 37902-1502
Entity Owned
8-yr Hold
Absentee Owner
Property ID
US80-1949384
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
177,685 SF
Lot
4.2 ac (182,739 SF)
APN
094LE01901
UPID
US80-1949384
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Ham N Goodys Bakery Specialty Food Shop
-
Embassy Suites by Hilton Knoxville Downtown Hotel & Motel
-
Rowland Amanda L Law Firm
-
KoPita Authentic Mediterranean Restaurant
-
Legg George F Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$23.53M
Blend (final)
Blend
$23.54M
Owner & transaction history
Knoxville Hotel Partners LLC · 8 yrs held
Knoxville Hotel Partners LLC
since 2017
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$36.0M
+53.0%
Neighborhood: shopping center
$34.2M
+45.4%
Auto repair, garage
$28.4M
+20.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Knoxville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Knoxville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$23,535,000
Current use
MEDICAL BUILDING
$36,015,000
Change: +53% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$34,215,000
Change: +45% · Conversion: Difficult
AUTO REPAIR, GARAGE
$28,405,000
Change: +21% · Conversion: Difficult
RETAIL STORES
$23,735,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$23.54M
Range $21.18M – $25.89M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$132 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$43,840
Tax year 2023
Land market value
$9,188,200
Improvement market value
$25,061,900
Total market value
$34,250,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Stories
12
Units
1
Total area
177,685 SF
Lot
4.2 ac (182,739 SF)
APN
094LE01901
UPID
US80-1949384
Jurisdiction
KNOX
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$23.5M
MEDICAL BUILDING
Est. value
$36.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$34.2M
AUTO REPAIR, GARAGE
Est. value
$28.4M
RETAIL STORES
Est. value
$23.7M
HOTEL/MOTEL Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Stories
12
Units
1
Lot
4.2 ac
Current owner
From public records · entity-resolved
Knoxville Hotel Partners LLC
Entity
Mailing address
17 MARKET SQ STE #201, KNOXVILLE, TN 37902-1447
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 22, 2025
—
Knoxville Hotel Partners LLC
—
Deed
related
$10,000,000 · Smartbank
Mar 30, 2021
—
Knoxville Hotel Partners LLC
—
Deed
related
$20,000,000 · Smartbank
Aug 26, 2020
—
Knoxville Hotel Partners LLC
—
Deed
related
$5,000,000 · Southeast Cmnty Cap
Sep 29, 2017
—
Knoxville Hotel Partners LLC
Gay Street Law LLC
Quit Claim Deed
related
—
Mar 26, 2015
$3,000,000
507 South Gay LLC
Universal Properties INC
Grant Deed
—
Mar 26, 2015
$500,000
Gay Street Law LLC
Universal Properties INC
Grant Deed
—
—
—
Knoxville Hotel Partners LLC
—
Deed Of Trust
related
$5,000,000 · Southeast Cmnty Cap
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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