Automotive Property with Highway
For Sale
$150,000
Pending
8421 Asheville Hwy, Knoxville, TN 37924
Commercial Sale, Knoxville, TN
Property Size536 SF
Days on Market2070
Property Features for 8421 Asheville Hwy
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
commercial
Parking
15
Directions
east on Asheville Hwy to property on the left before the old Helmas resturant.
Subdivision
Knox County - 1
Standard status
Pending
APN
062 234
Size
536 SF
Taxes and HOA fees
Tax Annual Amount
785
Utilities
Heating system
Electric (Heating)
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Floors in Building
1
Building materials
Steel Siding
Listing Agency:
Hammontree Real Estate
Listed By:
Pamela Hammontree
(865) 573-0145
Added: Feb 18, 2021
Changed: Oct 8
Last Checked: Oct 20 at 8:06PM
MLS# 1144029
Copyright © 2026 East Tennessee Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This automotive property includes multiple buildings and is currently used as a car lot. The improvements include a masonry building and a separate metal garage. The property fronts Asheville Hwy for approximately 159 feet and is located at 8421 Asheville Hwy in Knoxville, Tennessee.
Public water serves the property. Building features include electric heating and wall-unit cooling. Showings are available by appointment only.
Public water serves the property. Building features include electric heating and wall-unit cooling. Showings are available by appointment only.
Key Highlights
- Approximately 159 feet of frontage along Asheville Hwy
- Current car‑lot use
- Multiple buildings, including a masonry building and metal garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,699
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$153,980
$154.0K
Cap Rate 7%
$109,986
$110.0K
Cap Rate 9%
$85,544
$85.5K
Market Conditions
NOI Build-Up for 536 SF
Gross rent
$11.6K $21.60/SF
− Vacancy
−$579 −$1.08/SF
EGI
$11.0K $20.52/SF
− OpEx
−$3.3K −$6.16/SF
NOI
$7.7K $14.36/SF
Area
Knoxville, TN
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$153,980
Cap Rate 7%
$109,986
Cap Rate 9%
$85,544
Alternative Uses
Best Use
Retail
$110.0K
$96.2K – $128.3K
NOI $7,699 @ 7.0% cap · market cap 5.13%
Second Best
Industrial
$51.4K
$45.0K – $60.0K
NOI $3,597 @ 7.0% cap · market cap 2.40%
Theoretical Best
Office A
$132.8K
$116.2K – $154.9K
NOI $9,293 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 37924, TN
12,894
Population
6,052
Households
2.1
Avg Household Size
41
Median Age
28%
College-Educated
91%
High-School Grad
27.9 sq mi
ZIP Area
462
Density / Sq Mi
$73,794
Median Household Income
$40,594
Median Earnings
$1,020
Median Rent
$217,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Knoxville, TN
Frequently Asked Questions
What type of property is this?
Automotive property - The property includes multiple buildings and is currently used as a car lot.
Where is this automotive property located?
The property is located at 8421 Asheville Hwy Knoxville, TN.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Approximately 159 feet of frontage along Asheville Hwy; Current car‑lot use; Multiple buildings, including a masonry building and metal garage
