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

    7562 Mtn Grv Dr Knoxville, TN 37920-6754

    • Strip malls
    • 14,100 SF
    • 10.87 lot acres
    OFF-MARKET
    Last Sale
    Jan 09, 2020
    Value Estimations
    $4,705,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0792420
    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

    • Michael E. Konrad, DMD / Dental Office
    • Turker Goksel, DDS / Dental Office
    • Harvey Bozeman / Dental Office
    • Dr. Scott Denton / Dental Office
    • American Family Dentistry - Mountain Grove / Dental Office

    Property Details for 7562 Mtn Grv Dr

    Year built
    2009
    Construction
    LIGHT FRAME
    Lot size
    10.87 lot acres
    Property size
    14,100 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    137 23513
    APU
    13723513

    Description

    South Grove Shopping Center, located at 7562 Mountain Grove Dr, Knoxville, TN 37920, presents a unique opportunity for retailers seeking high visibility and strong traffic counts. This 14,100 square foot retail center is currently 100% vacant and offers flexible space options, with a minimum divisible space of 1,200 square feet and the potential to lease the entire 14,100 square feet contiguously. The property benefits from a prime location within the Woodfield Park retail hub, strategically positioned at the gateway between downtown Knoxville (just 5 miles away) and the entrance to Great Smoky Mountains National Park, a destination attracting over 10 million visitors annually. This ensures consistent high traffic volume, further enhanced by its proximity to major roadways boasting significant traffic counts: 29,013 AADT on Chapman Highway and 14,947 AADT on W. Governor John Sevier Highway. The center enjoys a strong anchor tenant in a high-volume Food City Grocery Store and is shadow-anchored by a regional Lowe's Improvement Store. Additional pad users include well-known national brands such as Chick-fil-A, CVS, Sonic, and McDonald's, creating a vibrant and established retail environment. This exceptional location and strong tenant mix offer an unparalleled opportunity for businesses seeking significant exposure and growth potential in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,705,000
      Market price range: $853k - $4.71M
      AI Estimate
      $4,705,000
      Market price range: $853k - $4.71M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $5,880,000
      APARTMENT HOUSE (5+ UNITS)
      $4,650,000
      MEDICAL BUILDING
      $2,860,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -83.8393
    Latitude
    35.9048
    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
    $61,369
    $0.00
    $0.00
    $1,654,320
    -
    $1,229,700
    $2,906,100
    $4,135,800

    Comparable in this City

    • Value Estimation by Request
      6,440 SF

      129 Moody Ave

      SHOPPING CENTER, STRIP CENTER • 6,440 SF
      129 Moody Ave, Knoxville, TN 37920-4201
      View Details
    • Value Estimation
      $4,165,000
      28,000 SF

      7430 Chapman Hwy

      SHOPPING CENTER, STRIP CENTER • 28,000 SF
      7430 Chapman Hwy, Knoxville, TN 37920-6614
      View Details
    • Value Estimation
      $730,000
      12,070 SF

      2865 Lakemoor Vw Rd

      SHOPPING CENTER, STRIP CENTER • 12,070 SF
      2865 Lakemoor Vw Rd, Knoxville, TN 37920-2862
      View Details
    • Value Estimation
      $1,300,000
      7,500 SF

      7501 Chapman Hwy

      SHOPPING CENTER, STRIP CENTER • 7,500 SF
      7501 Chapman Hwy, Knoxville, TN 37920-6655
      View Details
    • Value Estimation by Request
      9,096 SF

      6119 Chapman Hwy

      SHOPPING CENTER, STRIP CENTER • 9,096 SF
      6119 Chapman Hwy, Knoxville, TN 37920-5934
      View Details
    • Value Estimation
      $5,215,000
      21,523 SF

      7417 Chapman Hwy

      SHOPPING CENTER, STRIP CENTER • 21,523 SF
      7417 Chapman Hwy, Knoxville, TN 37920-6613
      View Details

    Similar Nearby for Sale

    • $2,500,000
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      Retail Strip Center Development Opportunity

      Retail strip center with high growth and traffic location.
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      Retail Property with High Visibility

      Retail space with ample parking and high traffic volume.
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      Retail property with high traffic and visibility on Alcoa Hwy.
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    • $445,000
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    Similar Nearby for Lease

    • $14 SF/Yr
      57,446 SF

      Chapman Hwy Retail Center

      Knoxville retail space for lease.
      6502 Chapman Hwy, Knoxville, TN 37920
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space Near Major Retailers

      Retail space available near Walmart and Home Depot.
      7301-7357 Chapman Hwy, Knoxville, TN 37920
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    • $15 SF/Yr
      1,400 SF

      Retail Space in Health Center

      Retail space in health and wellness focused retail center.
      4512-4580 Chapman Hwy, Knoxville, TN 37920
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      Retail Space Near Major Retailers

      Retail space available near Walmart and Home Depot.
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    • $12 SF/Yr
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      Retail Space in South Knoxville

      Retail property in a high-growth South Knoxville market.
      6502-6522 Chapman Hwy, Knoxville, TN 37920
      View Details
    • Contact for pricing

      Retail Space Near Major Retailers

      Retail space available near Walmart and Home Depot.
      7213 Chapman Hwy, Knoxville, TN 37920
      View Details
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    Knoxville, TN 37920-6754
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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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