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

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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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