Downtown Knoxville Creative Office
418 South Gay Street, Knoxville, TN
Call to check price and availability
Modern office space in the historic Phoenix Building on Gay Street.
Type:RETAIL
Property size:
2,700 SFLot size:
0.21 AcresPrice / SF:
$259/SF- Added:
- Nov 19, 2025
- Days on Market:
- 184
- Last Refresh:
- Apr 5 at 8:05 pm
Property Features for 418 South Gay Street
General Information
- Standard status
- Active
- Size
- 2,700 SF
- Lot size
- 0.21 Acres
- Property subtype
- RETAIL
Properties For Sale
at 418 South Gay Street Contact usListing agent Mark Shipe (865) 342-8716
Listing office Holrob (865) 342-8716
Listing date Nov 19, 2025
Source Moodyscre
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 Holrob
HighLights
- Prime Downtown Knoxville Location on Gay Street: Offers unparalleled access to amenities, clients, and talent.
- Historic Phoenix Building: Provides a prestigious and inspiring address with a strong local vibe.
- Abundant Natural Light: Floor‑to‑ceiling windows and high ceilings create a bright and productive workspace.
- Flexible Open‑Concept Layout: Includes four private offices/breakout rooms, a large open workspace, reception area, and lounge.
- Move‑in Ready with Modern Amenities: Features refinished hardwood floors, private restrooms, guest restrooms, and a conference room.
- Convenient Parking Options: Street parking and rear access to a public lot ensure easy access for employees and clients.
Overview
Located in the heart of downtown Knoxville, this modern creative office space is situated on the second floor of the iconic Phoenix Building on Gay Street. The suite features floor-to-ceiling windows and high ceilings, providing ample natural light. The layout includes refinished hardwood floors and an open-concept design, with four private offices or breakout rooms and a large open workspace suitable for collaboration. A dedicated reception area and lounge are available for welcoming clients and guests. The suite also includes private in-suite restrooms, guest restrooms, and a conference room. The location offers convenient access to coffee shops, restaurants, bars, and theaters. Street parking is available in front, with rear access to a public lot. The Phoenix Building is home to a community of innovative businesses, including Phoenix Pharmacy & Soda Fountain, Status Dough, Jackson Avenue Tea Company, Christopher Robin Arts, Paragon Infusion, and Valley Medical. This space is suitable for startups, creative businesses, or professional services firms.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$396.9K
NOI $35,721 @ 9.00% cap · cautious / downside scenario
Moderate
$510.3K
NOI $35,721 @ 7.00% cap · market / base-case scenario
Aggressive
$714.4K
NOI $35,721 @ 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 | $56.7k | $21.00 |
| − Vacancy | −$9.1k | −$3.36 |
| EGI | $47.6k | $17.64 |
| − OpEx | −$11.9k | −$4.41 |
| NOI | $35.7k | $13.23 |
2,700 SF · lease $21.00/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$510.3K
$446.5K – $595.4K
NOI $35,721 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$668.7K
$585.2K – $780.2K
NOI $46,812 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Christopher Robin Arts
Art Gallery
Valley Medical Downtown
Medical Clinic
Protein Discovery
Medical Laboratory
Caleb Selby
Pharmacy
Phoenix Pharmacy (drug ...
Pharmacy
Location Insight
- Map
- Local Demand
- City
- Knoxville
- County
- Knox
- State
- Tennessee
- Longitude
- -83.9181
- Latitude
- 35.966
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Modern office space in the historic Phoenix Building on Gay Street.
Where is this office units located?
The property is located at 418 South Gay Street Knoxville, TN.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Prime Downtown Knoxville Location on Gay Street: Offers unparalleled access to amenities, clients, and talent.; Historic Phoenix Building: Provides a prestigious and inspiring address with a strong local vibe.; Abundant Natural Light: Floor‑to‑ceiling windows and high ceilings create a bright and productive workspace.
