Office Building with Walk-Out Lower
For Sale
Contact for pricing
4509 PAPERMILL DR, Knoxville, TN 37909
Flexible office property with separate entrances, on-site parking, and room for multiple business users.
Property Size3,774 SF
Lot Size2.00 Acres
Price / SF$314.74
Days on Market64
Property Features for 4509 PAPERMILL DR
General Information
Standard status
Active
Size
3,774 SF
Class
B
Lot size
2.00 Acres
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1920
Buildings
1
Stories
2
Units
1
Building Size
3,774 SF
Listing Agency:
Maddox Companies
Listed By:
Clark Gross · License #TN378477
(865) 522-9910
Source:
Crexi
Added: Aug 5
Changed: Oct 2
Last Checked: Oct 7 at 12:11PM
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 Maddox Companies
Investment Insights
Based on property information with market context.
This office building provides a structured professional setting with seven private offices, an executive suite paired with an assistant’s office, a reception area, conference room, kitchen, four restrooms, IT/server room, and two storage areas on the main level. The walk-out lower level adds three private offices, storage, a restroom, private access, and dedicated parking, allowing the space to function independently from the upper portion.
The property occupies approximately two acres on Papermill Drive in Knoxville, with a prominent monument sign, convenient access to I-40/I-75, and on-site parking. The land also includes room for a potential additional building, subject to applicable approvals. The combination of a defined main-level layout and separately accessible lower-level space supports owner occupancy with the possibility of leasing the lower portion to another business.
The property occupies approximately two acres on Papermill Drive in Knoxville, with a prominent monument sign, convenient access to I-40/I-75, and on-site parking. The land also includes room for a potential additional building, subject to applicable approvals. The combination of a defined main-level layout and separately accessible lower-level space supports owner occupancy with the possibility of leasing the lower portion to another business.
Key Highlights
- Main level includes 7 private offices, reception, conference room, kitchen, 4 restrooms, IT/server room, and 2 storage areas
- Walk‑out lower level features 3 private offices, storage, a private restroom, separate entrance, and dedicated parking
- Approximately two acres with room for a potential additional building, subject to applicable approvals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,843
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,256,860
$1.3M
Cap Rate 7%
$897,757
$897.8K
Cap Rate 9%
$698,256
$698.3K
Market Conditions
NOI Build-Up for 4,750 SF
Gross rent
$99.8K $21.00/SF
− Vacancy
−$16.0K −$3.36/SF
EGI
$83.8K $17.64/SF
− OpEx
−$20.9K −$4.41/SF
NOI
$62.8K $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%
$1,256,860
Cap Rate 7%
$897,757
Cap Rate 9%
$698,256
Alternative Uses
Best Use
Office B
$897.8K
$785.5K – $1.05M
NOI $62,843 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,354 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
Explore this area
Business Placement
Demographics for 37909, TN
16,066
Population
8,076
Households
2
Avg Household Size
35
Median Age
45%
College-Educated
94%
High-School Grad
6.8 sq mi
ZIP Area
2,363
Density / Sq Mi
$61,365
Median Household Income
$36,974
Median Earnings
$1,156
Median Rent
$273,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office property with separate entrances, on-site parking, and room for multiple business users.
Where is this office building located?
The property is located at 4509 PAPERMILL DR Knoxville, TN.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Main level includes 7 private offices, reception, conference room, kitchen, 4 restrooms, IT/server room, and 2 storage areas; Walk‑out lower level features 3 private offices, storage, a private restroom, separate entrance, and dedicated parking; Approximately two acres with room for a potential additional building, subject to applicable approvals
