Lowe's For Sale - Knoxville, TN
Retail-Commercial
for Sale
| Catylist Listing ID: |
30839734 |
| Property Subtypes: |
Free-Standing Building, Garden Center, Street Retail
|
| Building Size (RSF): |
142,092 SF
|
| Sale Price: |
$26,985,320 |
| Unit Price: |
$189.91 PSF |
| Property Use Type: |
Investment, Business |
| Building Name: |
Lowe's |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/30/2023 |
Overview / Comments
The property is located in the North submarket of Knoxville, Tennessee, six miles northeast of downtown Knoxville. The property fronts Interstate-640 and is bound by Mall Road South, Millertown Pike, and Washington Pike. Lowe’s is a shadow-anchor to Isaiah’s Landing, a 23-acre retail development that’s home to Cracker Barrel, Wendy’s, Sonic, Walgreens Pharmacy, Home Federal Bank, O’Charley’s Restaurant, and others - and neighbors East Town Crossing, anchored by Home Depot and home to Little Caesars, Avis Rental Car, and other local tenants.
Lowe’s has occupied the property since it was built in 2002 and has 14.25 years left on their current term with eight, five (5) year options remaining on a corporate lease.
More than 40,300 residents with an average household income of $75,465 live within three (3) miles of the asset. This location provides Lowe’s with superb visibility, high traffic counts (69,368 AADT), and ease of access from Mall Road South and Millertown Pike.
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Additional Details
| Nearest MSA: |
Knoxville |
| County: |
Knox |
| Tax ID/APN: |
059LG009 |
| Property Visibility: |
Excellent |
| Tenancy: |
Single Tenant |
| Property Condition: |
Good |
| Year Built: |
2002 |
| Parking Description: |
4.16/1,000 SF |
| Zoning Description: |
C-Commercial / Big Box Store |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
4,200 |
46,117 |
122,592 |
| Median Age: |
41.01 |
40.28 |
36.96 |
| Households: |
1,957 |
20,304 |
51,752 |
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The information presented herein is provided as is, without warranty of any kind.
Neither Knoxville Area Association of REALTORS® nor
Moody's assume any liability for errors or omissions.
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