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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    514 Salem St Knoxville, TN 37919-2342

    • Auto shops
    • 10,500 SF
    OFF-MARKET
    Value Estimations
    $730,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0188265
    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

    • Auto Body Works / Auto Repair Shop
    • Kustom Stitch / Auto Repair Shop / Vehicle Inspection Center

    Property Details for 514 Salem St

    Year built
    1976
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Property size
    10,500 SF
    Property type
    Auto shops
    APN
    094PD006
    APU
    094PD006

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $737,000
      Market price range: $738k - $3.26M
      AI Estimate
      $720,000
      Market price range: $721k - $3.12M

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -83.954
    Latitude
    35.9578
    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
    $3,323
    $0.00
    $0.00
    $89,600
    -
    $116,600
    $107,400
    $224,000

    Comparable in this City

    • Value Estimation
      $505,000
      3,150 SF

      1323 Rocky Hl Rd

      AUTO REPAIR, GARAGE • 3,150 SF
      1323 Rocky Hl Rd, Knoxville, TN 37919
      View Details
    • Value Estimation
      $1,215,000
      7,396 SF

      5601 Kingston Pike

      AUTO REPAIR, GARAGE • 7,396 SF
      5601 Kingston Pike, Knoxville, TN 37919-6347
      View Details
    • Value Estimation
      $845,000
      2,117 SF

      1180 Keowee Ave

      AUTO REPAIR, GARAGE • 2,117 SF
      1180 Keowee Ave, Knoxville, TN 37919-7755
      View Details
    • Value Estimation by Request
      5,000 SF

      3030 Sutherland Ave

      AUTO REPAIR, GARAGE • 5,000 SF
      3030 Sutherland Ave, Knoxville, TN 37919-4569
      View Details
    • Value Estimation
      $1,710,000
      16,908 SF

      8538 Kingston Pike

      AUTO REPAIR, GARAGE • 16,908 SF
      8538 Kingston Pike, Knoxville, TN 37919-5353
      View Details
    • Value Estimation
      $2,520,000
      15,675 SF

      8413 Kingston Pike

      AUTO REPAIR, GARAGE • 15,675 SF
      8413 Kingston Pike, Knoxville, TN 37919-5352
      View Details

    Similar Nearby for Sale

    • $859,000
      1,004 SF

      Automotive Shop on Kingston Pike

      Free-standing, two-bay automotive shop in desirable Knoxville location.
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      Kingston Pike Storefront Investment

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      Montvue Center Retail Investment

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      10,182 SF commercial property in West Knoxville for sale.
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    • $425,000
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      3.5 acre estate lot, ideal for building a dream home.
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    Similar Nearby for Lease

    • $21 SF/Yr
      3,406 SF

      Bearden Hill Office/Retail Space

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      6601 Kingston Pike, Knoxville, TN 37919
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    • $38 SF/Yr
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      New retail construction, ideal for various business types.
      225 Brookview Centre Way, Knoxville, TN 37919
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      16,548 SF

      Bearden Retail Space - Knoxville, TN

      Prime Bearden location, 2,330 sq ft available.
      5115 Homberg Dr, Knoxville, TN 37919
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    • $17 SF/Yr
      240,000 SF

      4405-4591 Kingston Pike

      Office Properties & Spaces • 240,000 SF
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      View Details
    • $19 SF/Yr
      100,423 SF

      West Knoxville Retail Center

      High-traffic shopping center, 3 spaces available
      7240 Kingston Pike, Knoxville, TN 37919
      View Details
    • $26 SF/Yr
      53,938 SF

      Bearden Retail/Restaurant Space Available

      Class A retail/restaurant space in the heart of Bearden.
      4622 Kingston Pike, Knoxville, TN 37919
      View Details
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    514 Salem St
    Knoxville, TN 37919-2342
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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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