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Property profile & analytics
OFF-MARKET
Estimated value
$21,540,000
Banks
531 Gay St Knoxville, TN 37902-1509
Individually Owned
Property ID
US80-2988750
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1910
Total area
108,000 SF
Lot
0.02 ac (788 SF)
APN
094LE019
UPID
US80-2988750
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
-
Lake Homes Realty - East Tennessee Real Estate Agency
-
The Vault Bar & Pub
-
Vida Restaurant
-
Davidson William A Law Firm
-
The Holston Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$21.54M
Blend (final)
Blend
$21.54M
Owner & transaction history
Thomas Magette
Thomas Magette
since 2026
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$21.9M
+1.6%
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
FINANCIAL BUILDING
$21,540,000
Current use
MEDICAL BUILDING
$21,890,000
Change: +2% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$20,800,000
Change: -3% · Conversion: Difficult
AUTO REPAIR, GARAGE
$17,265,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$21.54M
Range $19.39M – $23.69M · ±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
$199 / 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 2022Property tax & assessments
Tax year 2022
Land market value
$373,300
Improvement market value
$2,063,800
Total market value
$2,437,100
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1910
Heating
STEAM
Stories
14
Units
1
Total area
108,000 SF
Lot
0.02 ac (788 SF)
APN
094LE019
UPID
US80-2988750
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
FINANCIAL BUILDING Current
Est. value
$21.5M
MEDICAL BUILDING
Est. value
$21.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$20.8M
AUTO REPAIR, GARAGE
Est. value
$17.3M
FINANCIAL BUILDING Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
1910
Heating
STEAM
Stories
14
Units
1
Lot
0.02 ac
Current owner
From public records · entity-resolved
Thomas Magette
Individual
Mailing address
531 GAY ST, KNOXVILLE, TN 37902-1502
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
84 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2026
—
Vvi Project LLC
—
Deed
related
$150,000 · Home Federal Bank Of Tennessee Fsb
Mar 9, 2026
$559,000
Thomas Magette
William J Brennan
Warranty Deed
—
Feb 4, 2026
$655,000
Robert Adamo
Walter Martin Deputy
Warranty Deed
$524,000 · First Choice Lending Services LLC
Jan 14, 2026
$1,275,000
Susan L Gentry
Athena Safa Sefat
Warranty Deed
—
Aug 21, 2025
—
John S Winbigler III Rlt
John S Winbigler
Quitclaim Deed
related
—
Jun 17, 2025
$615,000
Li Sitan
Amir Boghani
Warranty Deed
$273,250 · Jpmorgan Chase Bank NA
May 7, 2025
—
Vvi Project LLC
—
Deed
related
$8,250,000 · Home Federal Bank Of Tennessee Fsb
May 1, 2025
$639,000
Patrick S Debord
Robert M Craft
Warranty Deed
$619,830 · Fairway Independent Mortgage Corp
Nov 15, 2024
—
Dash H Roberts
—
Deed
related
$100,000 · Knoxville Tva Employees Cu
Aug 20, 2024
$810,000
Gary Alan Sims
Suzanne A Carlson
Warranty Deed
$100,000 · Knoxville Tva Employees Cu
Aug 1, 2024
—
Richard Sances II
—
Deed
related
$280,000 · Fairway Independent Mortgage Corp
May 6, 2024
—
Thomas Zacharia
Zacharia Sindhu
Deed
related
—
Mar 28, 2024
$577,725
John Scott Poole
Hornell Properties LLC
Warranty Deed
$433,293 · Fairway Independent Mortgage Corp
Jun 21, 2023
$542,000
Lynn Listes
John Oliver
Warranty Deed
—
Mar 24, 2023
$1,150,000
William L Eversole
Frank Ahmays
Warranty Deed
$511,000 · Morgan Stanley Private Bank NA
Apr 29, 2022
—
Adam Fleming Johnson
—
Deed
related
$360,000 · Bank Of Tennessee
Mar 9, 2022
$1,500,000
Robert D Griffith
Robert B Bustin
Warranty Deed
$1,500,000 · First Horizon Bank
Nov 23, 2021
$692,500
Grace Ann Cannon
Donald R Whitfed
Warranty Deed
—
Oct 13, 2021
$429,500
Amir Boghani
Jeffrey R Hall
Warranty Deed
$343,600 · First Volunteer Bank
Oct 8, 2021
—
Athena S Sefat
—
Deed
related
$249,525 · Regions Bank
Jul 20, 2021
—
Jeannette Marcella Mills
—
Deed
related
$388,900 · Bank Of America NA
Jun 30, 2021
$415,000
William J Brennan
Marcus A Allen
Warranty Deed
—
Jun 23, 2021
—
S Michael Collins
Stephen Michael Collins
Deed
related
—
Jun 14, 2021
—
Charles Q Lindsey
Charles Q Lindsey
Deed
related
—
Mar 2, 2021
—
Frank Shmays
—
Deed
related
$477,000 · Guaranteed Rate INC
Feb 1, 2021
$450,000
Christine Jo Collins
Cynthia L Belleau
Warranty Deed
—
Dec 17, 2020
—
Jeffrey R Hall
—
Deed
related
$60,000 · Home Federal Bank Of Tennessee Fsb
Dec 2, 2020
$405,000
Bradford A Ottens
Paul J Hanson
Warranty Deed
—
Oct 28, 2020
$442,500
Walter M Deputy
Amna Anjum
Warranty Deed
—
Oct 7, 2020
—
Athena S Sefat
—
Deed
related
$116,000 · Regions Bank
Aug 18, 2020
—
Athena Safa Safat
—
Deed
related
$539,400 · Regions Bank
Aug 17, 2020
—
Vvi Project LLC
—
Deed
related
$1,368,305 · Home Federal Bank Of Tennessee Fsb
Jul 8, 2020
—
Pete Ayoub
—
Deed
related
$166,000 · Movement Mortgage
Mar 25, 2020
$705,000
Jeannette Marcella Mills
James R Williams
Warranty Deed
$510,000 · Sirva Mortgage INC
Feb 18, 2020
$375,000
Robert J Twilley
Keith Seymour
Warranty Deed
—
Jan 10, 2020
$2,400,000
Vvi Project LLC
R Ents
Grant Deed
$2,528,750 · Home Fed'l Bk/tn
Dec 2, 2019
$301,500
Chris A Hodges
David W Dewhirst
Warranty Deed
$140,263 · David W Dewhirst
Oct 29, 2019
—
Robert L Swann
—
Deed
related
$350,000 · Mortgage Invtrs
Oct 8, 2019
—
Chad Youngblood
—
Deed
related
$345,000 · Mortgage Invtrs
Aug 16, 2019
$390,000
Amna Anjum
Albert Ritchie
Warranty Deed
$312,000 · Movement Mortgage
May 28, 2019
$650,000
Frank Shmays
Lawson,phillip O
Warranty Deed
$484,350 · Guaranteed Rate
Apr 30, 2019
$1,800,000
R & R Ents
Shirey,carey & Lisa
Warranty Deed
—
Apr 12, 2019
$672,000
Robert J Twilley
Evola,david C & Elizabeth G
Warranty Deed
—
Dec 19, 2018
$600,350
Dongarra,jack J Living Trust
Turner,ronald C & Peggy
Warranty Deed
—
Dec 17, 2018
$410,000
Ernest E Craft
Swann,robert L & Mary A
Warranty Deed
—
Oct 2, 2018
$662,500
Mary A Swann
Maier James E Living Trust
Warranty Deed
$453,100 · Mortgage Invtrs
Sep 27, 2018
$800,000
Anthena Safa Sefat
James M Reynolds
Warranty Deed
$640,000 · Regions Bank
Sep 4, 2018
—
Elizabeth G Evola
—
Trust Deed
related
$225,000 · Firstbank
Jul 9, 2018
—
Adam Johnson
—
Deed
related
$160,000 · Tnbank
May 14, 2018
—
Industrial Dev Board Of The Ci
Knoxville Hotel Partners LLC
Quit Claim Deed
related
—
Apr 30, 2018
$365,000
Koelsch Rental Properties LLC
Mandel,carole Z
Warranty Deed
—
Apr 23, 2018
$340,000
Pete Ayoub
Gregory Manter
Warranty Deed
$170,000 · Movement Mortgage
Mar 23, 2018
—
Carey O Shirey
—
Trustees Deed
related
$300,000 · First Century Bk
Feb 22, 2018
—
Adam F Johnson
—
Deed
related
$133,000 · Tnbank
Feb 9, 2018
$284,000
Charles H Bozeman II
Jones,mark E
Warranty Deed
—
Feb 6, 2018
$625,000
Thomas Zacharia
James M Reynolds
Warranty Deed
$453,100 · Ornl FCU
Jan 18, 2018
—
Obrien Shirey Carey
—
Deed
related
$450,000 · First Century Bank
Jan 2, 2018
$250,000
Allen,marcus & Lisa Family Trust
Bing Mark N
Warranty Deed
—
Dec 27, 2017
—
Mark E Jones
—
Deed
related
$200,000 · Home Fed'l Bk/tn
Nov 15, 2017
—
Knoxville Hotel Partners LLC
Conley Bldg Owners Assn INC
Quit Claim Deed
related
—
Nov 2, 2017
—
Knoxville Hotel Partners LLC
Boruff,julie
Quit Claim Deed
related
$25,000 · Regions Bk
Oct 17, 2017
—
Edward M Hindman
—
Deed
related
$1,000,000 · Citizens Nat'l Bk
Sep 29, 2017
$6,185,500
Knoxville Hotel Partners LLC
Boruff,scott
Grant Deed
—
Sep 29, 2017
—
Knoxville Hotel Partners LLC
Bajm Holdings LLC
Quit Claim Deed
related
—
Sep 27, 2017
$740,000
James M Reynolds
Hair,victor D & Anne C
Warranty Deed
—
Jun 15, 2017
—
Jeffrey R Hall
—
Deed
related
$224,000 · Home Fed'l Bk/tn
May 12, 2017
$330,000
Cynthia L Belleau
Ricky J Robinson
Warranty Deed
$264,000 · Us Bank NA
May 9, 2017
—
Adam Johnson
—
Deed
related
$100,000 · Tnbank
Apr 21, 2017
$272,000
Jeffrey R Hall
Smith,kelly A & Kimberly R
Warranty Deed
—
Apr 17, 2017
$240,100
Kelly A Smith
Lyons,laura K
Warranty Deed
—
Mar 9, 2017
—
Adam Johnson
—
Deed
related
$80,000 · Tnbank
Dec 21, 2016
$1,050,000
Carey Shirey
Panaroyal Investment Ltd
Warranty Deed
—
Dec 8, 2016
$115,000
Mark N Bing
Bing,paul D
Warranty Deed
related
—
Nov 9, 2016
—
Murrian,jerrilyn S Living Trust
Murrian,robert P & Jerrilyn S
Quitclaim Deed
related
—
Nov 8, 2016
$649,900
James M Reynolds
Bustin,robert B & Gayle E
Warranty Deed
—
Oct 12, 2016
—
Robert B Bustin
—
Deed
related
$398,500 · Mortgage Invtrs
Aug 1, 2016
$649,000
Maier,james E Living Trust
Keel,james F III
Warranty Deed
—
May 24, 2016
$1,445,100
Julia Mullaney
Greenwald,ken & Marilyn
Warranty Deed
—
Dec 23, 2008
$478,000
Williams,james R & Maureen P
Hnb Dev LLC
Warranty Deed
$295,000 · J P Morgan Chase Bank
Nov 16, 2006
—
Knoxvilles Community Dev Corp
Hnb Dev LLC
Warranty Deed
$13,500,000 · Fifth Third Bank
Jan 29, 2004
$806,330
Knoxville City (tn)
Knoxvilles Community Dev Corp
Grant Deed
related
—
Dec 28, 1990
$500,000
Five Thirty One
Unknown
Trustees Deed
—
—
—
Turner,ronald C & Peggy
—
Deed Of Trust
related
$262,267 · Branch Banking & Trust Co
—
—
Witkowski,charles E II & Stacie J
—
Deed Of Trust
related
$64,000 · Clayton Bank & Trust
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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