Single-Tenant Medical Office
For Sale
$774,507
1702 E Lamar Alexander Pkwy, Maryville, TN 37803
Net-leased medical office occupied by Prisma Health along an established healthcare corridor.
Property Size2,740 SF
Lot Size0.56 Acres
Price / SF$282.67
Days on Market50
Property Features for 1702 E Lamar Alexander Pkwy
General Information
Standard status
Active
Size
2,740 SF
Lot size
0.56 Acres
Property subtype
Office Medical
Occupancy
100%
Additional Details
Cap Rate
9.75%
Amenities
Investment-grade tenant: Prisma Health carries an A+ credit rating (S&P Global), $7.4B in annual revenue, and operates 20 hospitals with 33,000+ employees
Recent tenant capital investment into the property, demonstrating continued commitment to the location
High-visibility location with 22,900+ VPD along E. Lamar Alexander Pkwy
Positioned within an established healthcare corridor near Blount Memorial Hospital (304 beds), surrounded by complementary medical and retail tenants (Dialysis Clinic Inc., Curtiss Dentistry, First Horizon, Food Lion, and more)
Affluent trade area: $90,381 average household income within 5 miles — a 21% premium over the Knoxville MSA average
Located in the growing Knoxville, TN MSA (931K population, projected 3.3% household growth 2024–2029)
Building Details
Building Size
2,740 SF
Year Built
1985
Tenancy
Single
Listing Agency:
Orlando Office
Listed By:
Spencer Koch · License #License(s): FL: SL3508957
(407) 557-3848
Source:
Marcusmillichap
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 30 at 10:26AM
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 Orlando Office
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Investment Insights
Based on property information with market context.
This 2,740-square-foot medical office building is configured for a single tenant and leased on a net basis to Prisma Health. The property occupies 0.56 acres and serves as part of the medical-services environment surrounding Blount Memorial Hospital.
Located at 1702 East Lamar Alexander Parkway, the building fronts a corridor reporting 22,900+ VPD. Prisma Health carries an A+ S&P credit rating and expanded into Tennessee through its December 2024 integration of Blount Memorial Hospital. That integration includes a minimum 10-year commitment to essential services and $275 million in planned capital investment across East Tennessee. The property is also identified with a 9.75% cap rate.
Located at 1702 East Lamar Alexander Parkway, the building fronts a corridor reporting 22,900+ VPD. Prisma Health carries an A+ S&P credit rating and expanded into Tennessee through its December 2024 integration of Blount Memorial Hospital. That integration includes a minimum 10-year commitment to essential services and $275 million in planned capital investment across East Tennessee. The property is also identified with a 9.75% cap rate.
Key Highlights
- 2,740‑square‑foot single‑tenant medical office building
- Net lease to Prisma Health, rated A+ by S&P
- 0.56‑acre property at 1702 East Lamar Alexander Parkway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,320
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$986,400
$986.4K
Cap Rate 7%
$704,571
$704.6K
Cap Rate 9%
$548,000
$548.0K
Market Conditions
NOI Build-Up for 2,740 SF
Gross rent
$82.2K $30.00/SF
− Vacancy
−$16.4K −$6.00/SF
EGI
$65.8K $24.00/SF
− OpEx
−$16.4K −$6.00/SF
NOI
$49.3K $18.00/SF
Area
Blount County, TN
Vacancy
20.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$986,400
Cap Rate 7%
$704,571
Cap Rate 9%
$548,000
Alternative Uses
Best Use
Office B
$704.6K
$616.5K – $822.0K
NOI $49,320 @ 7.0% cap · market cap 6.37%
Second Best
Healthcare Medical
$441.4K
$386.2K – $515.0K
NOI $30,899 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.10M
$965.2K – $1.29M
NOI $77,218 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 37803, TN
33,463
Population
14,525
Households
2.3
Avg Household Size
46
Median Age
34%
College-Educated
93%
High-School Grad
87.7 sq mi
ZIP Area
382
Density / Sq Mi
$81,006
Median Household Income
$45,467
Median Earnings
$1,107
Median Rent
$312,800
Median Home Value
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Mountain Highway Veterinary Hospital — 2216 E Lamar Alexander Pkwy, Maryville, TN 37804
Frequently Asked Questions
What type of property is this?
Medical Office Space - Net-leased medical office occupied by Prisma Health along an established healthcare corridor.
Where is this medical office space located?
The property is located at 1702 E Lamar Alexander Pkwy Maryville, TN.
What is the asking price?
The asking price for this property is $774,507.
What are key features of this property?
This property features: 2,740‑square‑foot single‑tenant medical office building; Net lease to Prisma Health, rated A+ by S&P; 0.56‑acre property at 1702 East Lamar Alexander Parkway
