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Prime Redevelopment Opportunity in Knoxville

1013 N Central St, Knoxville, TN

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For Sale

Contact for pricing

1.061-acre property with downtown and Smoky Mountains views.

Type:INDUSTRIAL

Property size:

29,874 SF

Lot size:

1.06 Acres

Price / SF:

$117/SF

HighLights

Unparalleled views of downtown and the Smoky Mountains from a hilltop location.
Prime 1.061‑acre development opportunity in the heart of Old North, Knoxville.
Zoning allows for 70' building heights and unlimited unit density (with suitable parking).
Unique character and irreplaceable industrial features, including 28‑foot ceiling peaks and skylights.
Potential to become a flagship property and make a lasting mark on Knoxville's landscape.
Property is divided into two parcels, offering flexibility in development strategy.

We can help!

Contact an agent

Sam Harrell

For Sale

Contact for pricing

1.061-acre property with downtown and Smoky Mountains views.

Type:INDUSTRIAL

Property size:

29,874 SF

Lot size:

1.06 Acres

Price / SF:

$117/SF

Added:: Apr 15, 2024
Days on Market:: 815
Last Refresh:: May 20 at 9:06 pm

Property Features for 1013 N Central St

General Information

Standard status: Active
Size: 29,874 SF
Lot size: 1.06 Acres
Property subtype: INDUSTRIAL

We can help!

Contact an agent

Sam Harrell

Listing office Realty Executives Associates

Listing date Apr 15, 2024

Source Moodyscre

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 Realty Executives Associates

HighLights

Unparalleled views of downtown and the Smoky Mountains from a hilltop location.
Prime 1.061‑acre development opportunity in the heart of Old North, Knoxville.
Zoning allows for 70' building heights and unlimited unit density (with suitable parking).
Unique character and irreplaceable industrial features, including 28‑foot ceiling peaks and skylights.
Potential to become a flagship property and make a lasting mark on Knoxville's landscape.
Property is divided into two parcels, offering flexibility in development strategy.

Overview

This 1.061-acre property presents a development opportunity with views of downtown and the Smoky Mountains. Located in the heart of Old North, the property offers a front-row seat to Downtown Knoxville’s continued growth. The existing structure features expansive 28-foot ceiling peaks and large skylights that provide natural light. The property's industrial features and ample space offer possibilities for redevelopment. The property is divided into two parcels, offering flexibility in development strategy. The in-place zoning allows for 70-foot heights and has no limit on unit density if suitable parking is provided. The property is comprised of two parcels: 081MV012 & 081MV011. The warehouse offers future uses such as a vibrant marketplace, modern office complex, or residential development.

Local Financial Insights For Warehouse

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$322.6k	$10.80
− Vacancy	−$17.7k	−$0.59
EGI	$304.9k	$10.21
− OpEx	−$45.7k	−$1.53
NOI	$259.2k	$8.68

29,874 SF · lease $10.80/SF/yr · vacancy 5.50% · expense 15.00%

Alternative Uses

Best Use

Warehouse

$3.70M

$3.24M – $4.32M (±1% cap)

NOI $259,160 @ 7.0% cap · market cap 7.40%

Second Best

Industrial

$2.86M

$2.51M – $3.34M (±1% cap)

NOI $200,502 @ 7.0% cap · market cap 5.73%

Theoretical Best

Office A

$7.40M

$6.47M – $8.63M (±1% cap)

NOI $517,943 @ 7.0% cap · market cap 14.80%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Warehouses

Suggested Use

Similar Places Nearby

Radford Place Storage — 509 Radford Pl, Knoxville, TN 37917

Location Insight

Map
Local Demand

City: Knoxville
County: Knox
State: Tennessee
Longitude: -83.9276
Latitude: 35.9793

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For sale
Warehouses
TN
Knoxville
1013 N Central St

What type of property is this?

Warehouse - 1.061-acre property with downtown and Smoky Mountains views.

Where is this warehouse located?

The property is located at 1013 N Central St Knoxville, TN.

What is the asking price?

The asking price for this property is $3,500,000.

What are key features of this property?

This property features: Unparalleled views of downtown and the Smoky Mountains from a hilltop location.; Prime 1.061‑acre development opportunity in the heart of Old North, Knoxville.; Zoning allows for 70' building heights and unlimited unit density (with suitable parking).

1013 N Central St, Knoxville, TN

1.061-acre property with downtown and Smoky Mountains views.

Property Features for 1013 N Central St

General Information

We can help!

HighLights

Overview

Local Financial Insights For Warehouse

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Similar Places Nearby

Location Insight

Nearby Similar for Sale

Turnkey Short-Term Rental Duplex

Transmission Repair Auto Shop

Five-Unit Multifamily Investment Opportunity

Two-Story Commercial Redevelopment Building

Fully Leased 4-Plex Income Property

Fully Leased Four-Plex Investment

Charming Historic Fourth & Gill 4-Plex

Nearly New Duplex with Separate Parking

Two Multifamily Buildings on One Lot

New Construction Duplex with 3-Bed Units

Multi-Family Property with Unfinished Unit

Three-Unit Residential Income Property

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