Turnkey Restaurant with Walk-In
211 S Central St Knoxville, TN 37902
211 S Central St, Knoxville, TN, 37902
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For Sale
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Built-out restaurant space with existing tables, kitchen equipment, small wares, and walk-in refrigerator and freezer.
Property Size2,300 SF
Price / SF$510.87
Days on Market112
Property Features for 211 S Central St
General Information
- Standard status
- Active
- Size
- 2,300 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1910
Listing agency
Wallace Commercial
Listed by
Jeff Dealejandro · License #TN367871
Source
Crexi
Added: Apr 3 Updated: Jul 22 at 9:40PM Checked: Jul 22 at 9:40PM
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 Wallace Commercial
Investment Insights
Based on property information with market context.
211 S Central St offers full-building potential with a ready-to-operate restaurant space in Knoxville’s South Central corridor. The premises are described as fully built out for restaurant use and include existing tables, kitchen equipment, small wares, and a walk-in refrigerator and freezer.
The property is positioned in the heart of downtown Knoxville, with nearby demand drivers including a new Smokies Stadium, Market Square, and the Old City, and it’s noted as being within a dense, walkable urban node.
The restaurant space is described as formerly home to Olibea. In addition to the restaurant, the condo above is also available for purchase, creating the option of a full building buyout.
The property is positioned in the heart of downtown Knoxville, with nearby demand drivers including a new Smokies Stadium, Market Square, and the Old City, and it’s noted as being within a dense, walkable urban node.
The restaurant space is described as formerly home to Olibea. In addition to the restaurant, the condo above is also available for purchase, creating the option of a full building buyout.
Key Highlights
- Built‑out restaurant space with existing tables, kitchen equipment, and small wares
- Includes walk‑in refrigerator and walk‑in freezer
- Year built: 1910
Local 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 | $53.8k | $23.40 |
| − Vacancy | −$2.4k | −$1.05 |
| EGI | $51.4k | $22.35 |
| − OpEx | −$12.8k | −$5.59 |
| NOI | $38.5k | $16.76 |
2,300 SF · lease $23.40/SF/yr · vacancy 4.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$550.7K
$481.9K – $642.5K
NOI $38,549 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$569.7K
$498.5K – $664.6K
NOI $39,876 @ 7.0% cap · market cap 3.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
SmashCity Knoxville
Restaurant
Similar For Sale Nearby
Similar Off Market Nearby
- Pizza inn — Knoxville, TN 37902
FAQs
What type of property is this?
Conventional restaurant - Built-out restaurant space with existing tables, kitchen equipment, small wares, and walk-in refrigerator and freezer.
Where is this conventional restaurant located?
The property is located at 211 S Central St Knoxville, TN.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Built‑out restaurant space with existing tables, kitchen equipment, and small wares; Includes walk‑in refrigerator and walk‑in freezer; Year built: 1910
