Downtown Knoxville Office
17 Market Sq Ste 201 Knoxville, TN 37902
17 Market Sq Ste 201, Knoxville, TN, 37902
$6,000,000
For Sale
$6,000,000
18,000+ SF office space in the heart of Market Square.
Property Size18,595 SF
Price / SF$322.67
Days on Market145
Property Features for 17 Market Sq Ste 201
General Information
- Standard status
- Active
- Size
- 18,595 SF
- Property subtype
- Office
Listing agency
NAI Koella | RM Moore
(865) 755-8774
Listed by
Roger M. Moore, Jr, SIOR · License #249165
(865) 755-8774
Source
Naiglobal
Added: Feb 26 Updated: Jul 10 at 1:13PM Checked: Jul 10 at 1:13PM
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 NAI Koella | RM Moore
Investment Insights
Based on property information with market context.
Located in downtown Knoxville, this 18,000+- SF office space presents an investment opportunity. Situated in the heart of Market Square, the property was renovated in 1989. The space offers potential for an office building investor. The property provides ample space for various operations. Its location in the downtown area enhances its appeal and visibility. The property features a large reception area with natural light, over 35 offices including a private executive office section, and open spaces for cubicle areas. It also includes two kitchen/break rooms, a large event/training room with kitchen access, a large conference/board room, and a small private board room in the executive suites area. Collaborative space and several storage/filing areas are distributed throughout the space. An exterior balcony overlooks Market Square. The building includes an elevator to the second floor. The space incorporates aesthetically pleasing finishes and features including exposed brick and natural light throughout. The property contains 18,595 square feet of Class "A" Office Space.
Key Highlights
- Prime location in the heart of Market Square, Downtown Knoxville.
- 18,595 Square Feet of Class "A" Office Space.
- Large event/training room with adjacent kitchen for catering.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $390.5k | $21.00 |
| − Vacancy | −$62.5k | −$3.36 |
| EGI | $328.0k | $17.64 |
| − OpEx | −$82.0k | −$4.41 |
| NOI | $246.0k | $13.23 |
18,595 SF · lease $21.00/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.51M
$3.08M – $4.10M
NOI $246,012 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.61M
$4.03M – $5.37M
NOI $322,393 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
TSBDC Knoxville Center
Business Service Center
Knoxville Chamber
Business Service Center
east tennessee military ...
Army Facility
Knoxville Entrepreneur Center
Business Service Center
Downtown Knoxville
Business Service Center
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - 18,000+ SF office space in the heart of Market Square.
Where is this office building located?
The property is located at 17 Market Sq Ste 201 Knoxville, TN.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Prime location in the heart of Market Square, Downtown Knoxville.; 18,595 Square Feet of Class "A" Office Space.; Large event/training room with adjacent kitchen for catering.
