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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    689 Medical Park Dr Lenoir City, TN 37772-5795

    • Medical offices
    • 25,045 SF
    • 2.00 lot acres
    OFF-MARKET
    Last Sale
    Jun 25, 2021
    $3,800,000
    Value Estimations
    $3,865,000
    Show details
    Cap Rate Potential
    8.1%
    Medical offices
    Location Intelligence
    Property ID
    US80-0143584
    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.

    Current Use by Public Records

    • Nareshbhai Mistry / Physician
    • KNOXVILLE NEPHROLOGY ASSOCIATES DR. YAQUB ALI / Physician / Medical Clinic
    • Advanced Foot Care / Medical Clinic
    • University Ob/Gyn Inc / Physician
    • Cardiology Associates of East Tennessee - Lenoir City / Medical Clinic

    Property Details for 689 Medical Park Dr

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.00 lot acres
    Property size
    25,045 SF
    Zone code
    C-3
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    053015F A 00401
    APU
    053015FA00401

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,930,000
      ML approach
      $3,925,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,310,000
      6.5%
      $4,900,000
      7%
      $4,550,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,343,000
      Market price range: $864k - $3.93M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,470,000
      Current use
      RESTAURANT
      $3,005,000
      Change: +22% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,485,000
      Change: +1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lenoir City
    County
    Loudon
    State
    Tennessee
    Longitude
    -84.2677
    Latitude
    35.8241
    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
    0
    $0.00
    $320,760
    $1,239,520
    $1,560,280
    -
    $801,900
    $3,098,800
    $3,900,700

    Comparable in this City

    • Value Estimation by Request
      2,881 SF

      1559 Highland Park Dr

      MEDICAL BUILDING • 2,881 SF
      1559 Highland Park Dr, Lenoir City, TN 37772-6237
      View Details
    • Value Estimation by Request
      5,078 SF

      600 Town Crk E Rd

      MEDICAL BUILDING • 5,078 SF
      600 Town Crk E Rd, Lenoir City, TN 37772-5610
      View Details
    • Value Estimation
      $1,560,000
      13,647 SF

      5491 Creekwood Park Blvd

      MEDICAL BUILDING • 13,647 SF
      5491 Creekwood Park Blvd, Lenoir City, TN 37772-1204
      View Details
    • Value Estimation by Request
      2,231 SF

      1108 Broadway E St

      MEDICAL BUILDING • 2,231 SF
      1108 Broadway E St, Lenoir City, TN 37772-3136
      View Details
    • Value Estimation
      $6,385,000
      28,559 SF

      460 Medical Park Dr

      MEDICAL BUILDING • 28,559 SF
      460 Medical Park Dr, Lenoir City, TN 37772-5782
      View Details
    • Value Estimation
      $2,460,000
      22,094 SF

      576 Ft Loudon Medical Ctr Dr

      MEDICAL BUILDING • 22,094 SF
      576 Ft Loudon Medical Ctr Dr, Lenoir City, TN 37772-5676
      View Details

    Similar Nearby for Sale

    • $1,750,000
      5 SF

      Lenoir City Development Opportunity

      5-acre commercial land near Hwy 11 E/Hwy 321 intersection.
      Highway 321, Lenoir City, TN 37772
      View Details
    • $2,000,000
      Pending

      Lenoir City Land For Sale

      26-acre land parcel available in Lenoir City, Tennessee.
      Highway 70 E, Lenoir City, TN 37772
      View Details
    • $259,000
      0.35 Acres

      Water View Homesite in WindRiver

      Homesite with water views in lakefront community near marina.
      863 Castaway Ln, Lenoir City, TN 37772
      View Details
    • $699,000
      0.34 Acres

      Lakefront Lot in WindRiver Community

      Vacant lot with lake access in a golf community.
      204 Cypress Pointe Dr, Lenoir City, TN 37772
      View Details
    • $429,000
      0.65 Acres

      Lake View Homesite in Lenoir

      Homesite with panoramic lake views in WindRiver community.
      240 Southern Way, Lenoir City, TN 37772
      View Details
    • $2,700,000
      2.10 Acres

      Lakefront Land in Gated Community

      Two-acre lakefront property in WindRiver community with mountain views.
      1199 Shadow Hl Dr, Lenoir City, TN 37772
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      25,900 SF

      Move-in Ready Office Spaces Available

      Well-appointed office spaces with ample parking and highway exposure.
      149 Kelsey Ln, Lenoir City, TN 37772
      View Details
    • $26 SF/Yr
      12,500 SF

      Lenoir City Retail Space Available

      Retail space in high-traffic Lenoir City retail corridor.
      131 Kelsey Ln, Lenoir City, TN 37772
      View Details
    • $36 SF/Yr
      2,000 SF

      Retail Space Walmart Outparcel

      Retail space available in a Walmart outparcel location.
      375 Kelsey Ln, Lenoir City, TN 37772
      View Details
    • $1,530,000

      Lenoir City Commercial Corner Lot

      3.4 acre commercial lot at signalized intersection for rent.
      6801 Highway 11 East, Lenoir City, TN 37772
      View Details
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    Lenoir City, TN 37772-5795
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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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