Turkey Creek NNN Retail
Retail-Commercial
for Sale
| Catylist Listing ID: |
30655861 |
| Property Subtypes: |
Free-Standing Building, Restaurant, Other
|
| Building Size (RSF): |
16,324 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
2.28 Acres
|
| Sale Price: |
$4,800,000 |
| Unit Price: |
$294.05 PSF |
| Property Use Type: |
Net Leased Investment (NNN) |
| Building Name: |
Turkey Creek NNN Retail |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
5.78% |
| Average Occupancy Rate: |
61 |
| Last Updated: |
10/21/2020 |
Overview / Comments
Rare "Fee Simple" Offering for Restaurant/ Office Space/ Vacant Retail Space. 7,000 SF Restaurant has been occupied since 2004 with Corporate Office located in 2,949 SF Space. Former Retail Space 6,375 SF Vacant. Value Add opportunity.
5.78% CAP Rate (calculated on existing revenue).
NOI $277,448
Do Not Disturb Existing Tenant.
|
Additional Details
| Nearest MSA: |
Knoxville |
| County: |
Knox |
| Taxing Authority: |
city of Knoxville |
| Tax ID/APN: |
131IA001 |
| Zoning: |
C-R-1 |
| Retail Clientele: |
General |
| Property Visibility: |
Fair |
| Largest Nearby Street: |
Parkside Drive |
| Traffic/Vehicle Count: |
22,777 |
| Highway Access: |
Interstate 40/ 75 |
| Area Description: |
Turkey Creek Power Center mixed-use commercial development located in western Knox County, Tennessee, in the cities of Knoxville and Farragut. The development stretches for 3 miles adjacent to a concurrent section of Interstates 40 and 75, spanning the distance between the Lovell Road and Campbell Station Road interchanges. |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Property Condition: |
Excellent |
| Year Built: |
2004 |
| Parking Type: |
Surface |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Land Ownership: |
Fee Simple |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
6,272 |
38,079 |
100,312 |
| Median Age: |
39.91 |
41.93 |
39.73 |
| Households: |
2,483 |
15,026 |
39,954 |
|
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