Medical Office
320 Park 40 N Boulevard, Knoxville, TN 37923
For Sale
Contact for pricing
A single-tenant clinic occupies a renovated medical office building within an established healthcare cluster.
Property Size4,707 SF
Lot Size1.11 Acres
Price / SF$409.29
Days on Market50
Property Features for 320 Park 40 N Boulevard
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Gross Income
Highway Access
Building Details
Year Built
Year Renovated
Tenancy
Owner Occupied
Listing Agency:
Northmarq - Tulsa
Listed By:
Kelly Largent
(918) 494-2690
Source:
Crexi
Added: Sep 21
Changed: Nov 3
Last Checked: Nov 8 at 8:45AM
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 Northmarq - Tulsa
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Investment Insights
Based on property information with market context.
This medical office condominium includes a 4,707-square-foot building on 1.11 acres. Constructed in 1980, the property underwent renovation in 2017 for use as a home dialysis clinic. It is occupied by one tenant under an NN lease, with approximately 11.4 years remaining through January 31, 2038, and three additional five-year renewal options. Annual rent increases by 2%; the lease has no early termination or kick-out provisions and assigns minimal responsibilities to the landlord. The lease is guaranteed by Fresenius Medical Care Holdings, Inc., rated BBB- by Standard & Poor’s and Baa3 by Moody’s.
The property at 320 Park 40 N Boulevard in Knoxville sits directly beside Parkwest Medical Center and within a concentration of medical offices, surgery services, and specialty care providers. Interstate 40 and Interstate 140 provide regional access.
The property at 320 Park 40 N Boulevard in Knoxville sits directly beside Parkwest Medical Center and within a concentration of medical offices, surgery services, and specialty care providers. Interstate 40 and Interstate 140 provide regional access.
Key Highlights
- 4,707‑square‑foot medical office building on 1.11 acres
- Built in 1980 and renovated in 2017 for a home dialysis clinic
- Single‑tenant occupancy under an NN lease with approximately 11.4 years remaining through January 31, 2038
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,274
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,245,480
$1.2M
Cap Rate 7%
$889,629
$889.6K
Cap Rate 9%
$691,933
$691.9K
Market Conditions
NOI Build-Up for 4,707 SF
Gross rent
$98.8K $21.00/SF
− Vacancy
−$15.8K −$3.36/SF
EGI
$83.0K $17.64/SF
− OpEx
−$20.8K −$4.41/SF
NOI
$62.3K $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%
$1,245,480
Cap Rate 7%
$889,629
Cap Rate 9%
$691,933
Alternative Uses
Best Use
Office B
$889.6K
$778.4K – $1.04M
NOI $62,274 @ 7.0% cap · market cap 3.23%
Second Best
Healthcare Medical
$855.5K
$748.6K – $998.1K
NOI $59,884 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,608 @ 7.0% cap · market cap 4.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,331
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 37923, TN
29,705
Population
14,238
Households
2.1
Avg Household Size
37
Median Age
47%
College-Educated
93%
High-School Grad
11.1 sq mi
ZIP Area
2,676
Density / Sq Mi
$70,046
Median Household Income
$42,498
Median Earnings
$1,303
Median Rent
$292,500
Median Home Value
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Veterinary Surgical Services — Knoxville, TN 37923
Frequently Asked Questions
What type of property is this?
Medical Office Space - A single-tenant clinic occupies a renovated medical office building within an established healthcare cluster.
Where is this medical office space located?
The property is located at 320 Park 40 N Boulevard Knoxville, TN.
What is the asking price?
The asking price for this property is $1,926,534.
What are key features of this property?
This property features: 4,707‑square‑foot medical office building on 1.11 acres; Built in 1980 and renovated in 2017 for a home dialysis clinic; Single‑tenant occupancy under an NN lease with approximately 11.4 years remaining through January 31, 2038
