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

    9240 Park W Blvd Knoxville, TN 37923-4401

    • Hotels
    • 26,500 SF
    • 2.46 lot acres
    OFF-MARKET
    Value Estimations
    $3,240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1793204
    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

    • Hotels

    Property Details for 9240 Park W Blvd

    Year built
    1973
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.46 lot acres
    Property size
    26,500 SF
    Property type
    Hotels
    APN
    119 01808
    APU
    11901808

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,242,000
      Market price range: $1.58M - $4.52M
      AI Estimate
      $3,242,000
      Market price range: $1.58M - $4.52M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $3,510,000
      Current use
      MEDICAL BUILDING
      $5,370,000
      Change: +53% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $5,105,000
      Change: +45% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,235,000
      Change: +21% Conversion: Difficult
      RETAIL STORES
      $3,540,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -84.0945
    Latitude
    35.9182
    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
    $14,375
    $0.00
    $0.00
    $925,000
    -
    $993,500
    $1,319,000
    $2,312,500

    Comparable in this City

    • Value Estimation
      $15,000,000
      155,153 SF

      9134 Executive Park Dr

      HOTEL • 155,153 SF
      9134 Executive Park Dr, Knoxville, TN 37923-4508
      View Details
    • Value Estimation by Request
      48,446 SF

      320 Gallaher Vw Rd

      HOTEL • 48,446 SF
      320 Gallaher Vw Rd, Knoxville, TN 37923-2630
      View Details
    • Value Estimation
      $6,055,000
      59,457 SF

      258 Harry Ln Blvd

      HOTEL • 59,457 SF
      258 Harry Ln Blvd, Knoxville, TN 37923-4912
      View Details
    • Value Estimation
      $8,835,000
      53,880 SF

      9137 Cross Park Dr

      HOTEL • 53,880 SF
      9137 Cross Park Dr, Knoxville, TN 37923-4505
      View Details
    • Value Estimation
      $4,640,000
      68,740 SF

      317 Cedar Blf Rd

      HOTEL • 68,740 SF
      317 Cedar Blf Rd, Knoxville, TN 37923-4507
      View Details
    • Value Estimation
      $10,760,000
      63,064 SF

      9128 Executive Park Dr

      HOTEL • 63,064 SF
      9128 Executive Park Dr, Knoxville, TN 37923-4508
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Land in Century Park

      Pad-ready outparcels in Knoxville's first comprehensive office development.
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    • Contact for pricing
      32,302 SF

      Knoxville Medical Office Space Available

      Medical office space for sale in West Knoxville's Cedar Bluff.
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    • $120,250
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      West Knoxville Office Condo

      Move-in ready office condo in West Knoxville with flexible layout.
      9111 Cross Park Dr, Knoxville, TN 37923
      View Details
    • $1,300,000

      West Knoxville Land For Sale

      Land available in a mixed-use area near retail.
      321 N Gallaher View Rd NW, Knoxville, TN 37923
      View Details
    • $899,500

      Land For Sale Knoxville

      Land available for sale in Knoxville, Tennessee.
      Broome Rd, Knoxville, TN 37923
      View Details
    • $4,500,000

      Corner Lot on N Peters

      Vacant lot with high visibility and traffic count.
      303 N Peters Rd, Knoxville, TN 37923
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    Similar Nearby for Lease

    • $19 SF/Yr
      52,140 SF

      Stokely Building Executive Suites

      West Knoxville Office Space Available
      320 Cedar Bluff Rd, Knoxville, TN 37923
      View Details
    • $22 SF/Yr
      30,000 SF

      Knoxville Executive Office Suites

      Premium Office Space, Flexible Terms
      200 Prosperity Dr, Knoxville, TN 37923
      View Details
    • $23 SF/Yr
      7,112 SF

      Modern Office Space in Knoxville

      Convenient West Knoxville office space with modern amenities.
      408 N Cedar Bluff Rd, Knoxville, TN 37923
      View Details
    • $19 SF/Yr
      2,100 SF

      Refined Office Space Available

      Functional office space perfect for professional services and client meetings.
      8862 Cedar Springs Ln, Knoxville, TN 37923
      View Details
    • $4,250 /Mo
      2,088 SF

      Versatile Office Space Available

      Office space suitable for various professional services, high traffic location.
      9044 Middlebrook Pike, Knoxville, TN 37923
      View Details
    • $19 SF/Yr
      7,733 SF

      Move-in Ready Office Space

      Office space with natural light, kitchen, and restrooms available for rent.
      9050 Executive Park Dr, Knoxville, TN 37923
      View Details
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    9240 Park W Blvd
    Knoxville, TN 37923-4401
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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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