Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    701 Cherry St Knoxville, TN 37914-5201

    • Turn key restaurants
    • 5,412 SF
    • 0.41 lot acres
    OFF-MARKET
    Last Sale
    Nov 09, 2022
    $475,000
    Value Estimations
    $465,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1179026
    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

    • Baker Boy Pizza Company / Restaurant
    • East by Orange Hat / Brewery

    Property Details for 701 Cherry St

    Year built
    1970
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.41 lot acres
    Property size
    5,412 SF
    Property type
    Turn key restaurants
    APN
    082JF019
    APU
    082JF019

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $465,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -83.8971
    Latitude
    35.9891
    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
    $3,797
    $0.00
    $0.00
    $102,360
    -
    $78,000
    $177,900
    $255,900

    Comparable in this City

    • Value Estimation by Request
      2,498 SF

      5416 Asheville Hwy

      RESTAURANT • 2,498 SF
      5416 Asheville Hwy, Knoxville, TN 37914-3857
      View Details
    • Value Estimation
      $125,000
      2,544 SF

      Knoxville, TN 37914

      RESTAURANT • 2,544 SF
      Knoxville, TN 37914
      View Details
    • Value Estimation by Request
      1,332 SF

      4700 Asheville Hwy

      RESTAURANT • 1,332 SF
      4700 Asheville Hwy, Knoxville, TN 37914-4220
      View Details
    • Value Estimation by Request
      3,833 SF

      4704 Asheville Hwy

      RESTAURANT • 3,833 SF
      4704 Asheville Hwy, Knoxville, TN 37914-4220
      View Details
    • Value Estimation by Request
      6,424 SF

      3931 Holston Dr

      RESTAURANT • 6,424 SF
      3931 Holston Dr, Knoxville, TN 37914-4020
      View Details
    • Value Estimation by Request
      5,873 SF

      3434 Martin Luther King Jr Ave

      RESTAURANT • 5,873 SF
      3434 Martin Luther King Jr Ave, Knoxville, TN 37914-4049
      View Details

    Similar Nearby for Sale

    • $974,400
      7,729 SF

      Restaurant/Retail Space For Sale

      Versatile commercial space with excellent parking and high visibility.
      3920 Asheville Hwy, Knoxville, TN 37914
      View Details
    • Contact for pricing
      1.50 Acres

      Lord Commercial Park: Prime Knoxville Land

      ±37 Acres, High-Traffic Location, Excellent Demographics
      0 Strawberry Plains Pike, Knoxville, TN 37914
      View Details
    • $40,000
      0.19 Acres

      Commercial/Industrial Lot in Knoxville

      0.19-acre lot suitable for various business or development opportunities.
      1018 Cedarwood St, Knoxville, TN 37914
      View Details
    • $1,050,000
      17 SF

      Residential Land in Urban Area

      17-acre residential land parcel within an urban growth boundary.
      6355 Strawberry Plains Pike, Knoxville, TN 37914
      View Details
    • $245,596
      1.20 Acres

      Residential Land in Knoxville, TN

      Level, cleared lot with mountain views in residential area.
      1636 Leconte Rd, Knoxville, TN 37914
      View Details
    • New
      Contact for pricing
      0.12 Acres

      Residential Land in Knoxville, TN

      Residential land for sale in Knoxville, convenient location.
      311 Bedford Ave, Knoxville, TN 37914
      View Details

    Similar Nearby for Lease

    • $1,275 /Mo
      700 SF

      Revitalized Retail Space Available

      Recently renovated retail suites with high visibility in Knoxville.
      3930 Martin Luther King Jr Ave, Knoxville, TN 37914
      View Details
    • $16 SF/Yr
      3,280 SF

      Retail or Office Space Available

      Versatile building suitable for retail, office, or coworking concepts.
      3907 Martin Luther King Jr Ave, Knoxville, TN 37914
      View Details
    • $8 SF/Yr
      3,600 SF

      Retail Space in East Knoxville

      Former church space in established shopping center for lease.
      604-4112 Asheville Hwy, Knoxville, TN 37914
      View Details
    • $5 SF/Yr
      45,000 SF

      Knoxville Industrial Complex for Lease

      Multi-building industrial park with convenient interstate access and rail service.
      1605 Prosser Rd, Knoxville, TN 37914
      View Details
    • Contact for pricing
      21,672 SF

      Knoxville Industrial Flex Space

      11,635 SF Flex Warehouse Available
      2634 Scruffy City Way, Knoxville, TN 37914
      View Details
    • $11 SF/Yr
      36,800 SF

      Sublease Opportunity with Dock Access

      Warehouse sublease with multiple docks and ample parking available.
      5502 Island River Dr, Knoxville, TN 37914
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    701 Cherry St
    Knoxville, TN 37914-5201
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.