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    6704 Watermour Way Knoxville, TN 37912
    Property profile & analytics

    6704 Watermour Way Knoxville, TN 37912

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    • Casinos
    • 3,000 SF
    For Lease
    $2,750/Mo
    View Listing →
    Shared Office Space Available For Lease
    $2,750/Mo
    3,000 SF

    Shared Office Space Available

    Shared office space for lease with utilities and wifi included.

    6704 Watermour Way, Knoxville, TN 37912
    View Listing
    Property ID
    US80-1359643
    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.
    Value Estimations
    $620,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • National Low T Clinic / Medical Clinic
    • Cindy Lawson & Associates P.C. / Law Firm / Financial Advisor

    Property Details for 6704 Watermour Way

    Year built
    2009
    Construction
    STEEL FRAME
    Property size
    3,000 SF
    Property type
    Casinos
    APN
    067 250
    APU
    67250

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $565,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $619,000
      Market price range: $133k - $619k
      AI Estimate
      $619,000
      Market price range: $133k - $619k

    • Alternative Use

      Use
      Estimation
      CASINO
      $390,000
      Current use
      MEDICAL BUILDING
      $610,000
      Change: +56% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $580,000
      Change: +48% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $480,000
      Change: +23% Conversion: Difficult
      RETAIL STORES
      $400,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -84.0123
    Latitude
    36.0139
    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
    $6,796
    $0.00
    $0.00
    $315,280
    -
    $515,400
    $272,800
    $788,200

    Comparable in this City

    • Value Estimation
      $705,000
      4,544 SF

      5525 Clinton Hwy

      CASINO • 4,544 SF
      5525 Clinton Hwy, Knoxville, TN 37912-3475
      View Details
    • Value Estimation
      $550,000
      8,000 SF

      5833 Clinton Hwy

      CASINO • 8,000 SF
      5833 Clinton Hwy, Knoxville, TN 37912-2556
      View Details
    • Value Estimation by Request
      4,200 SF

      2330 Merchant Dr

      CASINO • 4,200 SF
      2330 Merchant Dr, Knoxville, TN 37912-5136
      View Details
    • Value Estimation by Request
      960 SF

      4401 Central Ave Pike Ste, Unit 103

      CASINO • 960 SF
      4401 Central Ave Pike Ste, Knoxville, TN 37912-4080
      View Details
    • Value Estimation by Request
      1,444 SF

      4200 Clinton Hwy

      CASINO • 1,444 SF
      4200 Clinton Hwy, Knoxville, TN 37912-5648
      View Details
    • Value Estimation by Request
      5,189 SF

      900 Kermit Dr

      CASINO • 5,189 SF
      900 Kermit Dr, Knoxville, TN 37912-3859
      View Details

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    • New
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      Knoxville Land with Utilities

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    Similar Nearby for Lease

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      4,500 SF

      Retail Space on Clinton Highway

      Retail space available, formerly a gym, with open area.
      5078 Clinton Hwy, Knoxville, TN 37912
      View Details
    • Contact for pricing

      Commercial Land with Development Potential

      Land with commercial building, utilities, and development opportunities.
      2535 Old Callahan Dr, Knoxville, TN 37912
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      Retail/Office Property on Clinton Hwy

      Corner lot property suitable for retail or office use.
      5514 Clinton Hwy, Knoxville, TN 37912
      View Details
    • $13 SF/Yr
      46,480 SF

      Premier Industrial-Flex Development For Lease

      State-of-the-art industrial-flex space designed for growing businesses.
      2105 Callahan Dr, Knoxville, TN 37912
      View Details
    • $9 SF/Yr
      12,000 SF

      Retail Space on Clinton Highway

      Retail space with high visibility and traffic count.
      4313-4315 Clinton Hwy, Knoxville, TN 37912
      View Details
    • $32 SF/Yr

      Retail Space on Clinton Highway

      Retail space available April 2026 in high-traffic Knoxville location.
      6631 Clinton Hwy, Knoxville, TN 37912
      View Details
    View Listing
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    6704 Watermour Way
    Knoxville, TN 37912
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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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