Property profile

523 Louisville Rd Alcoa, TN 37701

OFF-MARKET
Drive through restaurants
Property ID
US80-1362159
2,858 SF 0.7 ac lot Built 1979
Entity Owned Free & Clear
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Property summary

AI-generated overview

The property is a former restaurant building that operated as a Lee’s Famous Recipe restaurant for more than 40 years. It includes interior storage areas, three walk-in coolers/refrigeration units (including one freezer), restrooms, a manager’s office, a kitchen, and a prep area, along with a drive-thru window. Site features include a storage shed, a 1,500-gallon grease tank/trap, and 36 parking spaces. The property has been configured with restaurant-supporting operational components such as seating booths and tables, window blinds, a point-of-sale system, kitchen and reach-in refrigeration equipment, serving equipment, office furniture, shelving, and a drive-thru menu board and speaker. It is located adjacent to the Hamilton Crossing Shopping Center and has ingress/egress designed for convenient access, with traffic counts reported at over 16,000 vehicles per day; the building and site layout are suitable for continued restaurant use or related food-service concepts, subject to applicable approvals and franchise requirements.

Property profile

Verified
Property type Drive through restaurants
Use group DRIVE-THRU RESTAURANT, FAST FOOD
Year built 1979
Construction FRAME
Total area 2,858 SF
Lot 0.7 ac (30,492 SF)
Zoning code E
APN 005046K A 01800
UPID US80-1362159

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant

Location

523 Louisville Rd Alcoa, TN 37701-1821
Alcoa metro Census 10100 KNOXVILLE, TN METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$210k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$210k

Owner & transaction history

Zoning & alternative use

E · Alcoa, TN
Zoning description

er 2, Sub-Chapters 2.1-2.31: Zoning Ordinance 2.1 Residence A (PDF) 2.2 Residence B (PDF) 2.3 Residence C (PDF) 2.4 Planned Residential Unit Development C-1 (PDF) 2.5 Neighborhood Commercial D (PDF) 2.6 General Business…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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