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

    720 Hall Of Fame Dr Knoxville, TN 37921

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1543631
    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

    • Order of Police Lodge 2 / Police Department

    Property Details for 720 Hall Of Fame Dr

    Property type
    Commercial real estate

    Description

    This 7,900 square foot single-tenant office space in Knoxville, Tennessee, offers a fantastic opportunity for businesses seeking a strategic location. Situated at 720 Hall of Fame Dr, 37921, this traditional office space is conveniently located just minutes away from the baseball stadium, downtown Knoxville, and major highway access points, ensuring easy commutes and excellent visibility. The property benefits from ample parking, a significant advantage for employees and clients. Its placement within a designated Opportunity Zone presents substantial potential for investors and businesses looking to capitalize on Knoxville's continued growth and development. The property is classified as a traditional office space within Knox County and is available for lease as a single tenant occupancy. This large, open space provides flexibility for various business configurations and needs. The address is easily accessible and highly visible, making it an ideal location for businesses seeking to establish a strong presence in the Knoxville area. This property offers a unique blend of convenience, accessibility, and growth potential, making it an attractive option for businesses of all sizes.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -83.9162665
    Latitude
    35.9774829

    Comparable in this City

    • $9 SF/Yr
      2,724 SF

      Open Office Space For Lease

      2,724 SF open office space near I-40.
      1701 Louisville Dr, Knoxville, TN 37921
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    • $10 SF/Yr
      22,000 SF

      Midpark Road Office For Lease

      22,000 SF office space suitable for various office uses.
      1845 Midpark Rd, Knoxville, TN 37921
      View Details
    • $12 SF/Yr
      11,988 SF

      Spacious Open Office Space

      11,988 SF office space with open floor plan.
      1820 Midpark Rd, Knoxville, TN 37921
      View Details
    • $16 SF/Yr
      6,274 SF

      Knoxville Office Space For Rent

      Office space available for lease in Knoxville, Tennessee.
      1721 Midpark Rd, Knoxville, TN 37921
      View Details
    • $10 SF/Yr
      5,188 SF

      Midpark Rd Office For Lease

      Second story office space with mix of private and larger offices.
      1832 Midpark Rd, Knoxville, TN 37921
      View Details
    • $12 SF/Yr
      6,500 SF

      Workman Rd Office Space Available

      6,500 SF mezzanine office space for lease.
      3585 Workman Rd, Knoxville, TN 37921
      View Details

    Similar Nearby for Sale

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      Knoxville Development Property: 57 Acres

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      Orabella Rd, Knoxville, TN 37921
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    Similar Nearby for Lease

    • $12 SF/Yr
      11,988 SF

      Spacious Open Office Space

      11,988 SF office space with open floor plan.
      1820 Midpark Rd, Knoxville, TN 37921
      View Details
    • $9 SF/Yr
      2,724 SF

      Open Office Space For Lease

      2,724 SF open office space near I-40.
      1701 Louisville Dr, Knoxville, TN 37921
      View Details
    • $10 SF/Yr
      22,000 SF

      Midpark Road Office For Lease

      22,000 SF office space suitable for various office uses.
      1845 Midpark Rd, Knoxville, TN 37921
      View Details
    • $10 SF/Yr
      5,188 SF

      Midpark Rd Office For Lease

      Second story office space with mix of private and larger offices.
      1832 Midpark Rd, Knoxville, TN 37921
      View Details
    • $12 SF/Yr
      6,500 SF

      Workman Rd Office Space Available

      6,500 SF mezzanine office space for lease.
      3585 Workman Rd, Knoxville, TN 37921
      View Details
    • $16 SF/Yr
      6,274 SF

      Knoxville Office Space For Rent

      Office space available for lease in Knoxville, Tennessee.
      1721 Midpark Rd, Knoxville, TN 37921
      View Details
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    720 Hall Of Fame Dr
    Knoxville, TN 37921
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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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