Shopping Center Retail
For Sale
Contact for pricing
1645 Downtown West Blvd, Knoxville, TN 37919
Commercial space in an established center with access to Kingston Pike and I-40/I-75.
Property Size1,271 SF
Price / SF$279.31
Days on Market14
Property Features for 1645 Downtown West Blvd
General Information
Standard status
Active
Size
1,271 SF
Property subtype
RETAIL
Additional Details
HOA Fee
$235.27
Highway Access
Yes
Listing Agency:
NAI Koella RM Moore - Knoxville
(865) 531-6400
Listed By:
Michael Moore · License ##324982
(865) 531-6400
Source:
Moodyscre
Added: Aug 11
Changed: Aug 14
Last Checked: Aug 23 at 11:32AM
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 - Knoxville
Investment Insights
Based on property information with market context.
The offering comprises approximately 1,271 square feet within Downtown West Village Shopping Center. The space is positioned for retail, professional office, medical service, or boutique use, subject to applicable requirements.
The center is located just off Kingston Pike in an established West Knoxville commercial corridor, with convenient connections to I-40 and I-75. Ample parking serves the shopping center, supporting customer and staff access.
The center is located just off Kingston Pike in an established West Knoxville commercial corridor, with convenient connections to I-40 and I-75. Ample parking serves the shopping center, supporting customer and staff access.
Key Highlights
- Approximately 1,271 SF of commercial space
- Located within Downtown West Village Shopping Center
- Established West Knoxville commercial corridor just off Kingston Pike
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
$18,257
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
5.14%
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%
$365,140
$365.1K
Cap Rate 7%
$260,814
$260.8K
Cap Rate 9%
$202,856
$202.9K
Market Conditions
NOI Build-Up for 1,271 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
$27.5K $21.60/SF
− Vacancy
−$1.4K −$1.08/SF
EGI
$26.1K $20.52/SF
− OpEx
−$7.8K −$6.16/SF
NOI
$18.3K $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%
$365,140
Cap Rate 7%
$260,814
Cap Rate 9%
$202,856
Alternative Uses
Best Use
Retail
$260.8K
$228.2K – $304.3K
NOI $18,257 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$314.8K
$275.5K – $367.3K
NOI $22,036 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,067
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37919, TN
30,822
Population
15,499
Households
2
Avg Household Size
38
Median Age
58%
College-Educated
95%
High-School Grad
19.1 sq mi
ZIP Area
1,614
Density / Sq Mi
$71,863
Median Household Income
$44,968
Median Earnings
$1,247
Median Rent
$453,000
Median Home Value
Market
Vacancy Rate% for Retail in Knoxville, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Commercial space in an established center with access to Kingston Pike and I-40/I-75.
Where is this shopping center located?
The property is located at 1645 Downtown West Blvd Knoxville, TN.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Approximately 1,271 SF of commercial space; Located within Downtown West Village Shopping Center; Established West Knoxville commercial corridor just off Kingston Pike
