Restaurant Space at University
2421-2517 University Commons Way Knoxville, TN 37919
For Sale
Contact for pricing
Pending
Approximately 6,000 sf restaurant space available at a high-traffic campus shopping center.
Property Size6,000 SF
Days on Market554
Property Features for 2421-2517 University Commons Way
General Information
Standard status
Pending
Size
6,000 SF
Property subtype
RETAIL
Listing Agency:
Quinn Properties
(817) 875-8318
Listed By:
Alex Quinn
(817) 875-8318
Source:
Moodyscre
Added: Jan 21, 2025
Changed: Jul 26
Last Checked: Jul 28 at 3:11PM
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 Quinn Properties
Investment Insights
Based on property information with market context.
Restaurant space of approximately 6,000 sf is available at the High Traffic University Commons shopping center on campus. The space was formerly operated as Fieldhouse Social for 10 years, and it is offered for lease or purchase.
The property is located within University Commons, a shopping center setting positioned on campus. This configuration can support a restaurant use within an established retail environment.
Interested parties should confirm all final buildout, licensing, and operating requirements for the intended concept. Lease or purchase terms are available upon request.
The property is located within University Commons, a shopping center setting positioned on campus. This configuration can support a restaurant use within an established retail environment.
Interested parties should confirm all final buildout, licensing, and operating requirements for the intended concept. Lease or purchase terms are available upon request.
Key Highlights
- Approximately 6,000 SF restaurant space available at University Commons shopping center on campus
- Located at a high‑traffic campus shopping center
- Formerly Fieldhouse Social, operating in the space for 10 years
Financial Insights For Specialty Retail
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 | $140.4k | $23.40 |
| − Vacancy | −$6.3k | −$1.05 |
| EGI | $134.1k | $22.35 |
| − OpEx | −$33.5k | −$5.59 |
| NOI | $100.6k | $16.76 |
6,000 SF · lease $23.40/SF/yr · vacancy 4.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.44M
$1.26M – $1.68M
NOI $100,562 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,026 @ 7.0% cap · market cap 4.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Approximately 6,000 sf restaurant space available at a high-traffic campus shopping center.
Where is this conventional restaurant located?
The property is located at 2421-2517 University Commons Way Knoxville, TN.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Approximately 6,000 SF restaurant space available at University Commons shopping center on campus; Located at a high‑traffic campus shopping center; Formerly Fieldhouse Social, operating in the space for 10 years
