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4702-4720 Western Ave 56,478 SF 100% Leased Retail Building Knoxville, TN 37921 $8,950,000 ($158.47/SF) 7.52% Cap Rate
Investment Highlights
- Notable Anchor Tenant: Anchored by the Extremely Successful and Well-Known Tennessee School of Beauty, Which Enrolls Over 250 Students at Center Daily
- Fundamentally Strong Demographics: 164,819 Population & $78,593 Average Household Income within a 5-Mile Radius
- Long Term Stability: Over 45% of the GLA has a Remaining Lease Term of 10 Years, Adding Stability to the Investment
- Strong, Internet-Resistant Tenant Mix: The Majority of Tenants are Essential Service & Internet Resistant Businesses with Strong Financial Backings
Executive Summary
Marcus & Millichap is pleased to present the opportunity to acquire a fee simple interest in The Western Avenue Square, a well-established +/- 56,000 SF shopping center situated on a large 7.99 acre site in the rapidly growing city of Knoxville, TN.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
56,478 SF
Building Class
C
Year Built
1974
Price
$8,950,000
Price Per SF
$158.47
Cap Rate
7.52%
NOI
$672,692
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
4 Exterior
Building FAR
0.16
Lot Size
7.99 AC
Parking
350 Spaces (6.2 Spaces per 1,000 SF Leased)
Frontage
472’ on Western Ave
Amenities
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Soccer Player Academy
- Retailer
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Soccer Player Academy | Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 093GC-00201 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,674,720 |
Property Taxes
Parcel Number
093GC-00201
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,674,720
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4702-4720 Western Ave
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