Leased Industrial Asset in
2650 Western Ave, Knoxville, TN 37921
Fully leased industrial property with excellent access to major highways.
Type:Industrial
Property size:
19,994 SFLot size:
3.75 AcresPrice / SF:
$160/SF- Added:
- Feb 17, 2026
- Days on Market:
- 88
- Last Refresh:
- Mar 17 at 1:15 pm
Property Features for 2650 Western Ave
General Information
- Standard status
- Active
- Size
- 19,994 SF
- Lot size
- 3.75 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1966
Listing agent Ryan Jenkins License #0225268974
Listing office IronHorn Enterprises
Listing date Feb 17, 2026
Source Crexi
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 IronHorn Enterprises
HighLights
- Fully leased, income‑producing industrial asset.
- Excellent access to I‑640 and I‑40, minutes from downtown Knoxville and McGhee Tyson Airport.
- 19,994 square feet on 3.75 acres with a functional layout.
- 26 dock‑high doors and two drive‑in doors for efficient operations.
- 12’–14’ clear heights suitable for various industrial uses.
- Located in an established industrial corridor with strong regional connectivity.
Overview
The property at 2650 Western Avenue in Knoxville is a fully leased, income-producing industrial asset. The building has a total area of 19,994 square feet and is situated on a 3.75-acre lot. Originally constructed in 1966, with a storage addition in 1992, the property features a functional layout suitable for distribution, logistics, and service-based operations. The warehouse provides 12’–14’ clear heights, 26 dock-high doors, and two drive-in doors. The building also includes 1,832 square feet of office space, offering a mix of warehouse and administrative areas. The property is strategically located along Western Avenue (US-70/11), providing immediate access to I-640 and I-40. This location places it minutes from downtown Knoxville and within convenient reach of McGhee Tyson Airport. Situated within one of Knoxville’s established industrial corridors, the asset benefits from strong regional connectivity throughout East Tennessee. The property presents a turnkey investment opportunity with reliable in-place income and long-term operational appeal due to its stabilized occupancy and excellent loading capacity.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$2.94M
NOI $264,521 @ 9.00% cap · cautious / downside scenario
Moderate
$3.78M
NOI $264,521 @ 7.00% cap · market / base-case scenario
Aggressive
$5.29M
NOI $264,521 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $419.9k | $21.00 |
| − Vacancy | −$67.2k | −$3.36 |
| EGI | $352.7k | $17.64 |
| − OpEx | −$88.2k | −$4.41 |
| NOI | $264.5k | $13.23 |
19,994 SF · lease $21.00/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$3.78M
$3.31M – $4.41M
NOI $264,521 @ 7.0% cap · market cap 8.27%
Second Best
Warehouse
$2.48M
$2.17M – $2.89M
NOI $173,450 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$4.95M
$4.33M – $5.78M
NOI $346,648 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Saia LTL Freight
Trucking Company
Similar Places Nearby
- Morningstar Storage — 4514 Western Ave, Knoxville, TN 37921
- Fox Moving and Storage — 4281 Middlebrook Farm Ln #101, Knoxville, TN 37921
- iStorage — 4318 Middlebrook Pike, Knoxville, TN 37921
Location Insight
- Map
- Local Demand
- City
- Knoxville
- County
- Knox
- State
- Tennessee
- Longitude
- -83.963422
- Latitude
- 35.974464
Nearby Similar for Sale
FAQs
What type of property is this?
Warehouse - Fully leased industrial property with excellent access to major highways.
Where is this warehouse located?
The property is located at 2650 Western Ave Knoxville, TN.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Fully leased, income‑producing industrial asset.; Excellent access to I‑640 and I‑40, minutes from downtown Knoxville and McGhee Tyson Airport.; 19,994 square feet on 3.75 acres with a functional layout.
