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    6716 Central Ave Pike Knoxville, TN 37912-1425
    Property profile & analytics

    6716 Central Ave Pike, Knoxville, TN 37912-1425

    View on Map
    • Strip malls
    • 22,700 SF
    • 1.24 lot acres
    Off-Market
    Last Sale Jul 2, 2021
    $1,900,000
    Property ID
    US80-1198977
    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
    $2,050,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Family Life Worship Center / Church
    • SYNERGY HomeCare / Nursing Home / Senior Citizen Center
    • All Pro Healthcare Solutions / Home Health Care Service / Home Help Service Agency
    • Anthony Slay Farmers Insurance / Insurance Agency
    • SYNERGY HomeCare of West Knoxville / Home Health Care Service / Child Health Care Centre

    Property Details for 6716 Central Ave Pike

    Year built
    1996
    Construction
    STEEL FRAME
    Lot size
    1.24 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    057 090
    APU
    57090

    Description

    The Arches, located at 6716 Central Ave Pike in Knoxville, Tennessee (zip code 37912), offers two available office spaces for lease. This Class C property, built in 1996, totals 29,986 square feet and sits on a 1.37-acre lot. The building is a two-story structure with no elevators. The property is zoned C-G-1 and has the APN numbers 057 090 & 057 091. The address is conveniently located near the intersection of Callahan Dr and Central Ave Pike, offering easy access to I-75. The property is categorized as both Traditional and Creative Office space, suitable for a variety of businesses. Ample parking is available on both sides of the building. Two suites are currently available: Suite 8, a former salon, and Suite 16, previously used as administrative offices. All expenses are included in the lease, except for electricity and janitorial services. The property is situated within the Knox submarket and Knox submarket cluster in Knox County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,950,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,245,000
      Market price range: $1.37M - $7.58M
      AI Estimate
      $2,245,000
      Market price range: $1.37M - $7.58M

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -83.9919
    Latitude
    36.0268
    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
    $26,280
    $0.00
    $0.00
    $708,440
    -
    $453,300
    $1,317,800
    $1,771,100

    Comparable in this City

    • Value Estimation
      $2,670,000
      8,000 SF

      6672 Clinton Hwy

      SHOPPING CENTER, STRIP CENTER
      6672 Clinton Hwy, Knoxville, TN 37912-1039
      View Details
    • Value Estimation
      $5,345,000
      78,682 SF

      314 Merchant Dr Ste A

      SHOPPING CENTER, STRIP CENTER
      314 Merchant Dr Ste A, Knoxville, TN 37912-3547
      View Details
    • Value Estimation
      $755,000
      4,600 SF

      512 Merchant Dr

      SHOPPING CENTER, STRIP CENTER
      512 Merchant Dr, Knoxville, TN 37912-3851
      View Details
    • Value Estimation
      $1,815,000
      16,000 SF

      5555 Clinton Hwy

      SHOPPING CENTER, STRIP CENTER
      5555 Clinton Hwy, Knoxville, TN 37912-3475
      View Details
    • Value Estimation
      $2,620,000
      11,838 SF

      5400 Clinton Hwy

      SHOPPING CENTER, STRIP CENTER
      5400 Clinton Hwy, Knoxville, TN 37912-3458
      View Details
    • Value Estimation
      $2,885,000
      47,698 SF

      5425 Clinton Hwy

      SHOPPING CENTER, STRIP CENTER
      5425 Clinton Hwy, Knoxville, TN 37912-3452
      View Details

    Similar Nearby for Sale

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    • $799,900
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      Prime Land on Callahan Drive

      4+ acres in high-traffic Knoxville commercial zone.
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      6,222 SF

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    Similar Nearby for Lease

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      23,500 SF

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      Retail space with high visibility and traffic count.
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    • $32 SF/Yr

      Retail Space on Clinton Highway

      Retail space available April 2026 in high-traffic Knoxville location.
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      Retail Space Available For Rent

      Retail property available for lease on Clinton Highway.
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      4,500 SF

      Retail Space on Clinton Highway

      Retail space available, formerly a gym, with open area.
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      8,400 SF

      Knoxville Commercial Property For Rent

      Commercial property with high visibility and accessibility in Knoxville, TN.
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    Knoxville, TN 37912-1425
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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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