Two-Story Office
For Sale
$3,500,000
3117 Pellissippi Parkway, Knoxville, TN 37931
Office property with private rooms, flexible work areas, conference facilities, and an employee breakroom with kitchen.
Property Size20,320 SF
Lot Size12.50 Acres
Days on Market101
Property Features for 3117 Pellissippi Parkway
General Information
Standard status
Active
Size
20,320 SF
Class
B
Lot size
12.50 Acres
Property subtype
Office
Additional Details
Road Access
Yes
Building Details
Building Size
20,320 SF
Buildings
1
Stories
2
Listing Agency:
NAI Koella RM Moore
Listed By:
Roger M. Moore, Jr, SIOR
(865) 755-8774
Source:
Koellamoore
Added: Jul 11
Changed: Oct 1
Last Checked: Oct 16 at 7:23AM
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
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Investment Insights
Based on property information with market context.
This two-story office building offers a varied layout for administrative and professional operations. The interior includes numerous private offices, expansive areas suitable for employee cubicles, substantial storage and filing space, two large conference or training rooms, and an employee breakroom with kitchen facilities.
The property occupies 12.5 AC along Pellissippi Parkway in Knoxville, with frontage and signage opportunities on the parkway. Access is also provided from Rather Rd., supporting ingress and egress from an additional approach. On-site parking is available, complementing the building’s office configuration.
The property occupies 12.5 AC along Pellissippi Parkway in Knoxville, with frontage and signage opportunities on the parkway. Access is also provided from Rather Rd., supporting ingress and egress from an additional approach. On-site parking is available, complementing the building’s office configuration.
Key Highlights
- 12.5 AC office property along Pellissippi Parkway in Knoxville
- Two‑story building with numerous private offices and large work areas
- Two large conference or training rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$268,834
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,376,680
$5.4M
Cap Rate 7%
$3,840,486
$3.8M
Cap Rate 9%
$2,987,044
$3.0M
Market Conditions
NOI Build-Up for 20,320 SF
Gross rent
$426.7K $21.00/SF
− Vacancy
−$68.3K −$3.36/SF
EGI
$358.4K $17.64/SF
− OpEx
−$89.6K −$4.41/SF
NOI
$268.8K $13.23/SF
Area
Knoxville, TN
Vacancy
16.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,376,680
Cap Rate 7%
$3,840,486
Cap Rate 9%
$2,987,044
Alternative Uses
Best Use
Office B
$3.84M
$3.36M – $4.48M
NOI $268,834 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.03M
$4.40M – $5.87M
NOI $352,300 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Explore this area
Business Placement
Demographics for 37931, TN
31,358
Population
12,770
Households
2.5
Avg Household Size
38
Median Age
45%
College-Educated
94%
High-School Grad
28.4 sq mi
ZIP Area
1,104
Density / Sq Mi
$91,284
Median Household Income
$52,207
Median Earnings
$1,450
Median Rent
$317,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Office property with private rooms, flexible work areas, conference facilities, and an employee breakroom with kitchen.
Where is this office building located?
The property is located at 3117 Pellissippi Parkway Knoxville, TN.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 12.5 AC office property along Pellissippi Parkway in Knoxville; Two‑story building with numerous private offices and large work areas; Two large conference or training rooms
