Historic Mixed-Use
For Sale
Contact for pricing
Pending
10 Emory Pl, Knoxville, TN 37917
Three adjoining brick structures offer tall ceilings, strong daylight, and flexible commercial character near Downtown Knoxville.
Property Size7,731 SF
Days on Market199
Property Features for 10 Emory Pl
General Information
Standard status
Pending
Size
7,731 SF
Class
B
Property subtype
Office, Retail
Zoning
DK-E
Lease Type
NNN
Building Details
Buildings
2
Stories
2
Construction
brick
Listing Agency:
SVN Wood Properties
(865) 776-5662
Listed By:
Taylor Thompson · License #377968
Source:
Crexi
Added: Feb 13
Changed: Aug 30
Last Checked: Aug 30 at 10:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN Wood Properties
Investment Insights
Based on property information with market context.
Located at 10 Emory Pl in Knoxville, Tennessee, this mixed-use property includes three contiguous historic commercial buildings totaling 7,731 square feet. The improvements feature traditional brick exteriors, tall ceilings, and abundant natural light, creating a distinctive setting for creative office, retail, gallery, or studio applications.
The property is within the Emory Place Historic District, positioned near Downtown Knoxville in a corridor undergoing redevelopment and revitalization. Zoning is DK-E. The contiguous configuration supports a range of commercial occupancy and multi-use redevelopment concepts while retaining the character of the existing historic structures.
The property is within the Emory Place Historic District, positioned near Downtown Knoxville in a corridor undergoing redevelopment and revitalization. Zoning is DK-E. The contiguous configuration supports a range of commercial occupancy and multi-use redevelopment concepts while retaining the character of the existing historic structures.
Key Highlights
- Three contiguous historic commercial buildings
- 7,731 square feet across the property
- Classic brick facades with tall ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$111,048
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,220,960
$2.2M
Cap Rate 7%
$1,586,400
$1.6M
Cap Rate 9%
$1,233,867
$1.2M
Market Conditions
NOI Build-Up for 7,731 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$167.0K $21.60/SF
− Vacancy
−$8.3K −$1.08/SF
EGI
$158.6K $20.52/SF
− OpEx
−$47.6K −$6.16/SF
NOI
$111.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,220,960
Cap Rate 7%
$1,586,400
Cap Rate 9%
$1,233,867
Alternative Uses
Best Use
Retail
$1.59M
$1.39M – $1.85M
NOI $111,048 @ 7.0% cap · market cap 5.55%
Second Best
Office B
$1.46M
$1.28M – $1.70M
NOI $102,281 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$1.91M
$1.68M – $2.23M
NOI $134,037 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,617
Businesses Nearby
Explore this area
Business Placement
Demographics for 37917, TN
25,013
Population
14,216
Households
1.8
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
9.5 sq mi
ZIP Area
2,633
Density / Sq Mi
$51,232
Median Household Income
$37,853
Median Earnings
$1,063
Median Rent
$189,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three adjoining brick structures offer tall ceilings, strong daylight, and flexible commercial character near Downtown Knoxville.
Where is this mixed-use property located?
The property is located at 10 Emory Pl Knoxville, TN.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Three contiguous historic commercial buildings; 7,731 square feet across the property; Classic brick facades with tall ceilings
