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.

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

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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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