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Property profile & analytics
OFF-MARKET
Estimated value
$810,000
Garden apartment buildings
531 Gay St 401 Knoxville, TN 37902-1513
Individually Owned
1-yr Hold
Free & Clear
Property ID
US80-3044780
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1900
Construction
FRAME
Total area
1,421 SF
APN
094LE01900G
UPID
US80-3044780
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
$810k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$605k
Blend (final)
Blend
$810k
Owner & transaction history
Gary Alan Sims · 1 yrs held
Gary Alan Sims
since 2024
Last sale
$810,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$810,000
ML approach
$810,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$810k
Range $729k – $891k · ±10% · vs last sale $810k (Aug 20 2024)
Last sale anchor
$810k
Aug 20 2024
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
$570 / 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
$3,112
Tax year 2023
Assessed value
$125,725
Assessed 2023
Previous assessed
$125,725
+0.0% YoY
Effective rate
2.48%
On assessed value
Land market value
$159,900
Improvement market value
$343,000
Total market value
$502,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1900
Construction
FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Rooms
5
Bathrooms
2
Total area
1,421 SF
APN
094LE01900G
UPID
US80-3044780
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
Building & site characteristics
From public records
Year built
1900
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Rooms
5
Bathrooms
2
Current owner
From public records · entity-resolved
Gary Alan Sims
Individual
Free & Clear · 1 yrs held
Mailing address
531 S GAY ST APT #401, KNOXVILLE, TN 37902-1513
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 20, 2024
$810,000
Gary Alan Sims
Suzanne A Carlson
Warranty Deed
—
May 1, 2008
$310,950
Suzanne A Carlson
Hnb Dev LLC
Warranty Deed
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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