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Family Dollar 2604 E Magnolia Ave 10,000 SF Retail Building Knoxville, TN 37914 $1,065,000 ($106.50/SF) 7.11% Cap Rate
Investment Highlights
- Family Dollar renewed their final option on 7/1/2025 for 5 years with a 10% rent increase
- Brand new exterior lighting and solar panel parking lot lighting
- The building features ample frontage, flexible interior layout potential, and convenient on-site parking.
- Significant tenant improvements made to the building in 2024. Strong indication for future renewal options.
- Located on a hard corner along the highly trafficked East Magnolia Avenue corridor.
- Brand new camera security system added in 2026. 8 cameras total with live feed capabilities. Ideal for owners to monitor property off site!
Executive Summary
20-Year Tenant | Recent Renewal | Near Downtown Knoxville
Tenant has been operating at this location since 2005
Dollar Tree corporate guaranteed lease
Tenant renewed their first of three 5 year options on 7/1/2025 for with a 10% rent increase
Tenant invested significantly into an interior revamp in 2024 which is a strong indication for future renewal options
Roof and HVAC in great shape
Brand new security cameras installed in 2026 (8 cameras with live feed). Ideal for remote LL to monitor the property.
Brand new exterior lighting and solar panel parking lot lighting
Located on a hard corner along the highly trafficked East Magnolia Avenue corridor. Situated just minutes from downtown Knoxville and easily accessible from I-40, this property benefits from strong visibility, steady vehicular traffic, and close proximity to a revitalizing commercial district.
The building features ample frontage, flexible interior layout potential, and convenient on-site parking. Whether you're an investor seeking a stabilized asset with future value-add upside or an owner-user looking for a strategic location, this property delivers exceptional upside in one of Knoxville’s emerging submarkets.
Tenant has been operating at this location since 2005
Dollar Tree corporate guaranteed lease
Tenant renewed their first of three 5 year options on 7/1/2025 for with a 10% rent increase
Tenant invested significantly into an interior revamp in 2024 which is a strong indication for future renewal options
Roof and HVAC in great shape
Brand new security cameras installed in 2026 (8 cameras with live feed). Ideal for remote LL to monitor the property.
Brand new exterior lighting and solar panel parking lot lighting
Located on a hard corner along the highly trafficked East Magnolia Avenue corridor. Situated just minutes from downtown Knoxville and easily accessible from I-40, this property benefits from strong visibility, steady vehicular traffic, and close proximity to a revitalizing commercial district.
The building features ample frontage, flexible interior layout potential, and convenient on-site parking. Whether you're an investor seeking a stabilized asset with future value-add upside or an owner-user looking for a strategic location, this property delivers exceptional upside in one of Knoxville’s emerging submarkets.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,000 SF
Building Class
B
Year Built
1945
Price
$1,065,000
Price Per SF
$106.50
Cap Rate
7.11%
NOI
$75,680
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.25
Lot Size
0.91 AC
Opportunity Zone
Yes
Zoning
C-3 - Mixed Urban Oriented Commercial
Parking
47 Spaces (4.7 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
- Air Conditioning
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 082KB-002 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $327,660 |
Property Taxes
Parcel Number
082KB-002
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$327,660
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Family Dollar | 2604 E Magnolia Ave
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