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

    7216 Wellington Dr Knoxville, TN 37919-5964

    • Casinos
    • 8,548 SF
    • 1.13 lot acres
    OFF-MARKET
    Value Estimations
    $1,600,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1882256
    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

    • Southeast Financial Credit Union / Financial Advisor
    • Oliver Smith Realty & Development Company, Inc. / Real Estate Agency
    • Interim Services / Home Health Care Service
    • Knoxville Regenerative Medicine / Medical Clinic
    • Dr. Cory O'Lear-Zebroski / Alternative Medicine Practice

    Property Details for 7216 Wellington Dr

    Year built
    1993
    Construction
    WOOD FRAME
    Lot size
    1.13 lot acres
    Property size
    8,548 SF
    Property type
    Casinos
    APN
    120FB011
    APU
    120FB011

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,600,000
      Market price range: $1.02M - $2.77M
      AI Estimate
      $1,600,000
      Market price range: $1.02M - $2.77M

    • Alternative Use

      Use
      Estimation
      CASINO
      $1,555,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,525,000
      Change: +62% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,095,000
      Change: +35% Conversion: Difficult
      MEDICAL BUILDING
      $1,735,000
      Change: +11% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,365,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -84.0265
    Latitude
    35.929
    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
    $17,018
    $0.00
    $0.00
    $458,760
    -
    $615,500
    $531,400
    $1,146,900

    Comparable in this City

    • Value Estimation by Request
      972 SF

      221 Cox St

      CASINO • 972 SF
      221 Cox St, Knoxville, TN 37919-2213
      View Details
    • Value Estimation
      $865,000
      4,012 SF

      6208 Baum Dr

      CASINO • 4,012 SF
      6208 Baum Dr, Knoxville, TN 37919-9508
      View Details
    • Value Estimation by Request
      1,852 SF

      8528 Kingston Pike

      CASINO • 1,852 SF
      8528 Kingston Pike, Knoxville, TN 37919-5353
      View Details
    • Value Estimation by Request
      1,920 SF

      410 Harry St

      CASINO • 1,920 SF
      410 Harry St, Knoxville, TN 37919-4588
      View Details
    • Value Estimation
      $3,145,000
      9,717 SF

      609 Weisgarber Rd

      CASINO • 9,717 SF
      609 Weisgarber Rd, Knoxville, TN 37919-4018
      View Details
    • Value Estimation
      $2,095,000
      6,464 SF

      3834 Sutherland Ave

      CASINO • 6,464 SF
      3834 Sutherland Ave, Knoxville, TN 37919-5164
      View Details

    Similar Nearby for Sale

    • $369,000
      1,250 SF

      Updated Townhome in Sequoyah Square

      Charming, updated 2-bedroom townhome in desirable Sequoyah Hills.
      3636 Taliluna Ave, Knoxville, TN 37919
      View Details
    • $400,000
      5,316 SF

      Pad-Ready Site in Brookview Centre

      Pad-ready site suitable for retail, office, or medical office.
      234 Brookview Centre Way, Knoxville, TN 37919
      View Details
    • $1,549,999
      8,584 SF

      Knoxville Multifamily Property with Eight Units

      Multifamily property featuring eight units built in 2006, Knoxville, TN.
      8122 NW Elderberry Dr, Knoxville, TN 37919
      View Details
    • $350,000
      Pending

      Knoxville Land Tract For Sale

      Large 4.2 acre land tract in Knoxville, Tennessee.
      1812 Wrights Ferry Rd, Knoxville, TN 37919
      View Details
    • $425,000
      3.50 Acres

      Residential Land in Knoxville, TN

      3.5 acre estate lot, ideal for building a dream home.
      1801 Lyons Bend Rd, Knoxville, TN 37919
      View Details
    • Contact for pricing

      Land in Brookview Town Centre

      Land for new development in Knoxville's Bearden sub-market.
      235 Brookview Centre Way, Knoxville, TN 37919
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      6,651 SF

      Garden Level Fitness Facility Space

      Fitness facility space in Brookview Promenade Office Building for rent.
      265 Brookview Centre Way, Knoxville, TN 37919
      View Details
    • Contact for pricing
      3,293 SF

      Prime Knoxville Retail Land

      13.07 acres in Knoxville's strongest retail area.
      8425-8511 Kingston Pike, Knoxville, TN 37919
      View Details
    • $8 SF/Yr
      10,000 SF

      Industrial Warehouse Space For Rent

      Industrial warehouse space available in West Knoxville.
      6600 Deane Hill Dr, Knoxville, TN 37919
      View Details
    • $16 SF/Yr
      16,548 SF

      Bearden Retail Space - Knoxville, TN

      Prime Bearden location, 2,330 sq ft available.
      5115 Homberg Dr, Knoxville, TN 37919
      View Details
    • $19 SF/Yr
      100,423 SF

      West Knoxville Retail Center

      High-traffic shopping center, 3 spaces available
      7240 Kingston Pike, Knoxville, TN 37919
      View Details
    • $17 SF/Yr
      240,000 SF

      4405-4591 Kingston Pike

      Office Properties & Spaces • 240,000 SF
      4405-4591 Kingston Pike, Knoxville, TN 37919
      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.
    7216 Wellington Dr
    Knoxville, TN 37919-5964
    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.