Sevierville Retail Investment Property

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30722275
Property Subtypes: Free-Standing Building
Status: Pending/Contingent
Building Size (RSF): 23,580 SF
Gross Building Area: See Agent
Gross Land Area: 1.82 Acres
Sale Price: $3,990,000
Unit Price: $169.21 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Magnolia Place
Sale Terms: Cash to Seller
Cap Rate: 4.8%
Average Occupancy Rate: 60
Last Updated: 10/15/2021

Overview / Comments

Retail Center comprised of (11) Suites located on the "in-bound" side of the Parkway in Sevierville, TN located South of the Downtown and RiverPlace Shopping Center. Rents are below market and there is upside potential by filling vacancies.

Tenants include El Primo Market/ Restaurant in space since 2004, expanded 2005 and 2017. Lee's Total Health since 2006, Nail Salon since 2007, EZ Rentals since 2016, and World o Wireless since 2018. Currently (1) 5,040 SF Vacant and (3) 1,500 SF Vacant.

Do not disturb tenants or businesses.

Attachments & Media

Additional Details

Nearest MSA: Sevierville
County: Sevier
Taxing Authority: Sevier County
Tax ID/APN: 078061B A 02600
Retail Clientele: General, Business, Traveler, Tourist, Recreation
Property Visibility: Excellent
Traffic/Vehicle Count: 45,692
Highway Access: Hwy 441/ 71
Site Description: Property comprised of (5) Parcels. (4) Parcels located on the Parkway and (1) parcel located on Chilhowee Drive.
Area Description: Sevier County is located about 20 miles southeast of Knoxville, TN. There are three cities and one town, and a population of approximately 100,000. The county's economic base is tourism, with approximately 12 million annual visitors. Total revenues are over $3 Billion Dollars.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Property Condition: Excellent
Year Built: 2004
Roof Type: Gable

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,433 16,670 31,118
Median Age: 43.5 38.9 39.42
Households: 1,077 6,736 12,272


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