This Retail Property is Off-Market.

1015 Old Cedar Bluff Road
Knoxville, TN 37923 ·

5,100 SF · Retail For Sale

N/A

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Tuffy/Car-X Tire & Auto (Corporate Lease)

Price N/A Occupancy 100%
Building Size 5,100 SF No. Stories 1
Property Type Retail Tenancy Single
Property Sub-type Vehicle Related Year Built 2008
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 0.87 AC
Commission Split 1.5% Parking Ratio 4.30 / 1,000 SF
Cap Rate 9%
Listing ID: 16009122 Date Created: 12/01/2008 Last Updated: 01/15/2013

Description

Site consists of a 5,100 SF, 8-bay Tuffy/Car-X service center developed in 2008 on 0.87 acres between the heavily commuted corridors of New Cedar Bluff Rd and Middlebrook Pike. Approx. 26,000 cars travel on New Cedar Bluff Rd and 31,000 cars travel on Middlebrook Pike daily. Property has excellent exposure with 250 feet of frontage on 4-lane Old Cedar Bluff Rd. Access to property is convenient with an entrance/exit on Old Cedar Bluff Rd allowing traffic flow in either direction. Adequate parking is provided with 22 spaces including 2 handicap spaces. Site is zoned for commercial use (CA-General Business). Tuffy is a full service auto center with approx. 375 locations in 20 states. Tuffy is currently on a 20 year absolute NNN lease with 10% rent bumps every 5 years during primary term and options. Landlord has zero responsibility to maintain or repair property.

Located in the Knoxville MSA, the largest metro area in East TN and 3rd largest in the state with over 750,000 residents. Just north of I-40/75 on Old Cedar Bluff Rd near the signalized intersection with New Cedar Bluff Rd, the property is 10 miles from the CBD and less than 1 hour from the Great Smoky Mountains National Park that experiences over 10 million visitors annually. Property is neighbored by a number of compatible retailers, banks and other service tenants. A 70,200 SF Kroger anchored center is home to Starbucks, Baskin Robbins and Hollywood Video. Tate's Gallery includes Walgreens, Blockbuster, Great Clips, Z Mex Grille and Gondolier Italian Restaurant. Other tenants in the area include CVS, Advance Auto, Bruster's, Dollar General Market, Jiffy Lube, First Tennessee Bank, TN Bank of Knoxville and several other retail or restaurant users.

Highlights

  • Tuffy/Car-X is a full service auto center founded in 1970 with approximately 375 locations in 20 Midwest and Southeast states
  • 20 year NNN corporate lease that commenced in 2008 with 10% rent bumps every 5 years in primary term and options periods
  • Neighboring tenants include Kroger, Walgreens, CVS, Starbucks, Advance Auto Parts, Baskin Robbins and Dollar General Market
  • Knoxville is the 3rdlargest metro in the state (+/ 750,000) and the economic, social and recreational hub for the East TN region
  • Excellent visibility and high traffic counts in excess of 30,000 cars per day on cross streets
  • Over 119,000 residents and 50,000 households with an average income over $70,000 in a 5 mile radius

Research

1015 Old Cedar Bluff Road, Knoxville, TN 37923 (Knox County)

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