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Prominent Retail on High-Traffic Corridor 856 Tennessee Ave 8,600 SF Vacant Retail Building Online Auction Sale Etowah, TN 37331
Matterport 3D Tours
Investment Highlights
- Freestanding former pharmacy with a mostly open layout and abundant parking, ideal for a wide range of retail, office, or service-based businesses.
- Neighbored by an established retail strip center and surrounded by national brands like Food City, Advance Auto Parts, Subway, McDonald’s, and more.
- Supported by a captive audience of more than 42,000 within 10 miles, offering annual spending of more than $497 million.
- Ideal location with a proven track record of success, with the former tenant achieving over $7 million in annual revenue.
- Highly visible location with frontage to Highway 411, offering daily exposure to more than 10,000 passing vehicles.
- Performing leasing environment with market vacancies of just 1.5% and annual average rent growth of 4.5% over the past five years.
Executive Summary
NAI Koella | RM Moore is pleased to exclusively offer the fee-simple opportunity to acquire a highly visible freestanding commercial property located at 856 Highway 411 in Etowah, Tennessee. Offered vacant, this well-maintained asset offers an immediate occupancy or leasing upside to a new owner.
856 Highway 411 features 8,600 square feet of space on a 0.89-acre lot, with direct frontage on Tennessee Avenue. Previously operating as a pharmacy, the property boasts a track record of success. This adaptable facility suits a variety of uses, including retail, office, and service-based businesses, with generous parking and excellent visibility to more than 10,000 vehicles each day. Its open floor plan provides flexibility for customization, enabling businesses to design a space tailored to their needs.
The property enjoys a prime position along Etowah’s main retail corridor, offering strong cross-traffic from a captive regional audience. More than 42,000 residents live within a 10-mile radius, commanding an average household income of more than $67,000. This fixed customer base offers annual spending of more than $497 million, ensuring strong support for local businesses. The building is directly adjacent to an established retail strip center, and is surrounded by national brands, including Food City, Advance Auto Parts, Walgreens, Subway, Domino’s, McDonald’s, and more. Additionally, the property is placed just minutes from the 88-bed Starr Regional Medical Center Etowah, providing an added built-in customer base of staff, patients, and visiting families.
Part of the greater Athens Retail Market, Etowah demonstrates strong leasing fundamentals that support 856 Highway 411 as an ideal acquisition for value-add investors. Currently, retail vacancies in the market sit at just 1.5%, with no new space currently under construction, creating outsized demand for quality spaces like the subject property. The heightened demand in the area has driven stable rent growth, with rates increasing at an average of 4.5% annually over the past five years.
Offering a highly adaptable commercial property that blends accessibility and strong visibility along Etowah’s primary retail hub, 856 Highway 411 delivers an exceptional opportunity for growing businesses and value-add investors alike.
Property tours are by appointment only. Please contact the listing broker to schedule.
856 Highway 411 features 8,600 square feet of space on a 0.89-acre lot, with direct frontage on Tennessee Avenue. Previously operating as a pharmacy, the property boasts a track record of success. This adaptable facility suits a variety of uses, including retail, office, and service-based businesses, with generous parking and excellent visibility to more than 10,000 vehicles each day. Its open floor plan provides flexibility for customization, enabling businesses to design a space tailored to their needs.
The property enjoys a prime position along Etowah’s main retail corridor, offering strong cross-traffic from a captive regional audience. More than 42,000 residents live within a 10-mile radius, commanding an average household income of more than $67,000. This fixed customer base offers annual spending of more than $497 million, ensuring strong support for local businesses. The building is directly adjacent to an established retail strip center, and is surrounded by national brands, including Food City, Advance Auto Parts, Walgreens, Subway, Domino’s, McDonald’s, and more. Additionally, the property is placed just minutes from the 88-bed Starr Regional Medical Center Etowah, providing an added built-in customer base of staff, patients, and visiting families.
Part of the greater Athens Retail Market, Etowah demonstrates strong leasing fundamentals that support 856 Highway 411 as an ideal acquisition for value-add investors. Currently, retail vacancies in the market sit at just 1.5%, with no new space currently under construction, creating outsized demand for quality spaces like the subject property. The heightened demand in the area has driven stable rent growth, with rates increasing at an average of 4.5% annually over the past five years.
Offering a highly adaptable commercial property that blends accessibility and strong visibility along Etowah’s primary retail hub, 856 Highway 411 delivers an exceptional opportunity for growing businesses and value-add investors alike.
Property tours are by appointment only. Please contact the listing broker to schedule.
Matterport 3D Tours
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Photos
Street View
Street
Map
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
- Register to Bid Instructions
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Building Size
8,600 SF
Building Class
C
Year Built
1993
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.89 AC
Opportunity Zone
Yes
Parcel Number
107G-A-036.00
Zoning
C - - Zoned for commercial use, - Genuinly a premium location at the main intersection of two arterials.
Parking
30 Spaces (3.49 Spaces per 1,000 SF Leased)
Frontage
109’ on Tennessee Ave
Amenities
- Pylon Sign
Space Availability
- Space
- Size
- Space Use
- Position
- Available
This space was vacated by Walgreens. It is a second generation space. This is next to but NOT part of the center shown. It is a totally freestanding location.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 8,241 SF | Retail | Outparcel | Now |
1st Floor
| Size |
| 8,241 SF |
| Space Use |
| Retail |
| Position |
| Outparcel |
| Available |
| Now |
1st Floor
| Size | 8,241 SF |
| Space Use | Retail |
| Position | Outparcel |
| Available | Now |
This space was vacated by Walgreens. It is a second generation space. This is next to but NOT part of the center shown. It is a totally freestanding location.
Demographics
Demographics
1 mile
3 mile
5 mile
2024 Population
2,208
7,546
11,210
2020 Population
2,028
7,038
10,584
2029 Population
2,370
8,080
11,979
2024-2029 Projected Population Growth
7.3%
7.1%
6.9%
Daytime Employees
915
2,600
2,782
Total Businesses
102
244
288
Average Household Income
$68,167
$74,690
$76,558
Median Household Income
$58,960
$55,139
$56,743
Total Consumer Spending
$27M
$92.9M
$139.7M
Median Age
43.1
44.2
44.9
2024 Households
900
3,060
4,521
Percent College Degree or Above
7%
8%
9%
Average Home Value
$185,940
$178,416
$185,774
Nearby Major Retailers
Sale Advisors
Sale Advisors
Justin Sterling, Senior Retail Advisor
After 26 years of sales experience earning consistent achievements for performance and in 16 years dedicated to commercial real estate, Justin closed over 700 retail lease and investment transactions. Justin's recognition by industry and civic leaders is due in part to his commitment to positively impact our clients regardless of the deal size.
From leasing a 1.5 Million SF retail portfolio & working with Simon Property Group (SPG), to representing notable Landlords including DDRS, Regency Centers & Ramco Gershenson, and Rialto Capital, Justin's focus is and has always been in the retail sector.
oth in and outside of the industry, proactive community service and exercising volunteer leadership are part his core values. In 2015 he was appointed by the Mayor of Knoxville to serve on the Business Advisory Council he serves in leadership roles on numerous boards including as President of the East Towne Business Alliance, & as a Committee Chair for the CEO Fellowship in Nashville, TN. Currently, Justin serves on the Government Relations Committee with the state leadership team for the International Council of Shopping Centers (ICSC) and recently served as the Tennessee Legislative Coordinator for the Knoxville Area Association of Realtors (KAAR). Outside the office Justin loves quality time with his Wife, and is an avid enthusiast of performance cars and motorcycles.
From leasing a 1.5 Million SF retail portfolio & working with Simon Property Group (SPG), to representing notable Landlords including DDRS, Regency Centers & Ramco Gershenson, and Rialto Capital, Justin's focus is and has always been in the retail sector.
oth in and outside of the industry, proactive community service and exercising volunteer leadership are part his core values. In 2015 he was appointed by the Mayor of Knoxville to serve on the Business Advisory Council he serves in leadership roles on numerous boards including as President of the East Towne Business Alliance, & as a Committee Chair for the CEO Fellowship in Nashville, TN. Currently, Justin serves on the Government Relations Committee with the state leadership team for the International Council of Shopping Centers (ICSC) and recently served as the Tennessee Legislative Coordinator for the Knoxville Area Association of Realtors (KAAR). Outside the office Justin loves quality time with his Wife, and is an avid enthusiast of performance cars and motorcycles.
Michelle Gibbs, Senior Advisor
Michelle R. Gibbs serves as a Senior Advisor for NAI Koella | RM Moore, specializing in the sale and leasing of office and retail property in Knoxville, Tennessee. With over twelve years of industry experience, she brings her hometown charm and knowledge of the surrounding area to the table. Prior to joining NAI Koella | RM Moore, Michelle worked for a property management company specializing in Knoxville office property. She received her affiliate broker license in 1992 and specialized in office leasing and property management. During this time, she managed and leased more than 1 million square feet of space in the Knoxville, Tellico Village and Cookeville areas of Tennessee, which also included more than 200,000 square feet of retail space.
Throughout her time with R.M. Moore Real Estate, Michelle was consistently recognized for being among the Top 100 Nationwide Sales Leaders of Sperry Van Ness. She also consistently achieved a Diamond Volume Award for exceeding $5 million in transaction volume per year. In 2005, Michelle managed the development of Phase II of the Jackson Plaza shopping center located in Cookeville, for a total expansion of 80,000 square feet. She worked with potential tenants, the City of Cookeville, the Chamber of Commerce and contractors in the completion of this project.
Throughout her time with R.M. Moore Real Estate, Michelle was consistently recognized for being among the Top 100 Nationwide Sales Leaders of Sperry Van Ness. She also consistently achieved a Diamond Volume Award for exceeding $5 million in transaction volume per year. In 2005, Michelle managed the development of Phase II of the Jackson Plaza shopping center located in Cookeville, for a total expansion of 80,000 square feet. She worked with potential tenants, the City of Cookeville, the Chamber of Commerce and contractors in the completion of this project.
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Prominent Retail on High-Traffic Corridor | 856 Tennessee Ave
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