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6501 Deane Hill Dr 36,921 SF Office Building Knoxville, TN 37919 $7,500,000 ($203.14/SF) 6.02% Cap Rate
Investment Highlights
- Fully leased by single tenant w/ "A" credit rating by A.M. Best until 2029
- Ample parking and natural light
- Ideally located on Bearden Hill, close proximity to the I-40/75.
- Upgraded LED lights, flooring, paint and fiber optics in 2019
Executive Summary
Investment opportunity to purchase this 36,921 SF, single tenant building, ideally located off Kingston Pike on Bearden Hill, 1 mile from I-40/I-75. The single tenant has an "A" credit rating by A.M. Best with a modified gross lease in place until 2029 -- with annual CPI inflators and an option to extend. Please inquire for additional financial information.
The interior of the building has two floors and was renovated for the existing tenant in 2019. The exterior of the building is a combination of steel and brick, with drive up access on both floors. Ample windows create natural light throughout, while the property has 149 paved parking spaces for a 4.04 parking ratio / 1000 RSF -- with several spaces subleased by a neighboring business.
Additional details:
- Upgraded LED lighting
- 2000A / 120V/208V, 3-phase electrical supply
- Executive office suites
- Genflex TPO roof (installed in 2018)
- Trane gas pack HVAC units (located on the roof)
- Upgraded fiber optic cabling
- 2,750 SF of detached and enclosed garage space.
The building is currently occupied and requires 24 hour notice prior to any interior showing.
The interior of the building has two floors and was renovated for the existing tenant in 2019. The exterior of the building is a combination of steel and brick, with drive up access on both floors. Ample windows create natural light throughout, while the property has 149 paved parking spaces for a 4.04 parking ratio / 1000 RSF -- with several spaces subleased by a neighboring business.
Additional details:
- Upgraded LED lighting
- 2000A / 120V/208V, 3-phase electrical supply
- Executive office suites
- Genflex TPO roof (installed in 2018)
- Trane gas pack HVAC units (located on the roof)
- Upgraded fiber optic cabling
- 2,750 SF of detached and enclosed garage space.
The building is currently occupied and requires 24 hour notice prior to any interior showing.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
36,921 SF
Building Class
C
Year Built/Renovated
1962/2019
Price
$7,500,000
Price Per SF
$203.14
Cap Rate
6.02%
NOI
$451,500
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
18,460 SF
Building FAR
0.26
Lot Size
3.25 AC
Zoning
C - Commercial
Parking
149 Spaces (4.04 Spaces per 1,000 SF Leased)
Amenities
- Controlled Access
- Security System
- Signage
- Reception
- Central Heating
- Natural Light
- Secure Storage
- Air Conditioning
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Property Taxes
| Parcel Number | 121AC-01201 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $947,000 |
Property Taxes
Parcel Number
121AC-01201
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$947,000
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6501 Deane Hill Dr
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