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PetSmart 250 E Emory Rd 18,194 SF Retail Building Powell, TN 37849 $5,502,210 ($302.42/SF) 6.20% Cap Rate
Investment Highlights
- Long Term Lease - 12+ Years Remaining
- Rapidly Growing Population - 6.7% Increase since 2020
- No Income State Tax State
- Recession-Resistant Tenant
Executive Summary
Zebra Capital and Bang Realty are proud to exclusively present for sale single-tenant, net leased PetSmart investment property located in Knoxville, TN with 12 years remaiining on the lease. The property consists of 18,134 SF building, sitting on a 3.43 Acres parcel, built in 2018 and located within a Kroger Grocery anchored shopping center (owned and operated by Kroger itself).
LONG TERM LEASE - NEWLY EXTENDED 12-YEAR LEASE AFFIRMING TENANTS COMMITMENT
AFFLUENT DEMOGRAPHICS - AVERAGE HOUSEHOLD INCOME ABOVE $93,000 IN A 3-MILE RADIUS
RECESSION-RESISTANT TENANT - PET STORE SECTOR HISTORICALLY PERFORMED EXCEPTIONALLY WELL DURING RECESSIONARY TIMES
MINIMAL LANDLORD RESPONSIBILITIES - ROOF & STRUCTURE ONLY (2018 BUILT)
NO INCOME TAX STATE - TENNESSEE IS ONE OF NINE STATES WITH NO INCOME TAX
RAPIDLY GROWING POPULATION - KNOXVILLE MSA GREW 6.7% SINCE 2020
LONG TERM LEASE - NEWLY EXTENDED 12-YEAR LEASE AFFIRMING TENANTS COMMITMENT
AFFLUENT DEMOGRAPHICS - AVERAGE HOUSEHOLD INCOME ABOVE $93,000 IN A 3-MILE RADIUS
RECESSION-RESISTANT TENANT - PET STORE SECTOR HISTORICALLY PERFORMED EXCEPTIONALLY WELL DURING RECESSIONARY TIMES
MINIMAL LANDLORD RESPONSIBILITIES - ROOF & STRUCTURE ONLY (2018 BUILT)
NO INCOME TAX STATE - TENNESSEE IS ONE OF NINE STATES WITH NO INCOME TAX
RAPIDLY GROWING POPULATION - KNOXVILLE MSA GREW 6.7% SINCE 2020
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- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
18,194 SF
Building Class
B
Year Built
2018
Price
$5,502,210
Price Per SF
$302.42
Cap Rate
6.20%
NOI
$341,137
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
3.43 AC
Zoning
C
Parking
142 Spaces (7.8 Spaces per 1,000 SF Leased)
Frontage
277’ on East Emory Road
Fairly walkable
40/100
Exceptionally drivable
100/100
Not bikeable
10/100
Nearby Major Retailers
1 of 3
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