Open-Plan Retail
New
For Sale
$355,000
1645 Downtown West Boulevard ste 10, Knoxville, TN 37919
The suite supports retail, office, medical service, and boutique uses within a center with ample parking.
Property Size1,271 SF
Price / SF$279.31
Days on Market4
Property Features for 1645 Downtown West Boulevard ste 10
General Information
Standard status
Active
Size
1,271 SF
Property subtype
Retail
Additional Details
Highway Access
Yes
Building Details
Building Size
1,271 SF
Listing Agency:
NAI Koella RM Moore
(865) 221-9442
Listed By:
Michael Moore · License #TN #324982
(865) 221-9442
Source:
Koellamoore
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 16 at 4:31AM
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.
Approximately 1,271 SF is available in Suite 10 at Downtown West Village Shopping Center. The space features a broad, open retail layout that can accommodate retail, professional office, medical service, or boutique users. Ample parking serves the center.
The property is positioned in an established West Knoxville commercial corridor at 1645 Downtown West Boulevard, just off Kingston Pike. Regional connectivity includes convenient access to I-40 and I-75, while the surrounding 37919 area provides an established commercial setting for customer-facing and service-oriented operations.
The property is positioned in an established West Knoxville commercial corridor at 1645 Downtown West Boulevard, just off Kingston Pike. Regional connectivity includes convenient access to I-40 and I-75, while the surrounding 37919 area provides an established commercial setting for customer-facing and service-oriented operations.
Key Highlights
- Approximately 1,271 SF of retail space in Suite 10
- Open retail configuration within Downtown West Village Shopping Center
- Ample parking available at the center
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
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?
Retail space - The suite supports retail, office, medical service, and boutique uses within a center with ample parking.
Where is this retail space located?
The property is located at 1645 Downtown West Boulevard ste 10 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 retail space in Suite 10; Open retail configuration within Downtown West Village Shopping Center; Ample parking available at the center
