Top-Floor Office Suite with
For Sale
Contact for pricing
Pending
550 W Main St, Knoxville, TN 37902
Top-floor, nine-story office condominium suite with multiple private offices, conference rooms, and an en-suite balcony.
Property Size9,632 SF
Days on Market265
Property Features for 550 W Main St
General Information
Standard status
Pending
Size
9,632 SF
Property subtype
OFFICE
Listing Agency:
Lawler-Wood, LLC
(865) 637-7777
Listed By:
Ben Petre
(865) 306-1070
Source:
Moodyscre
Added: Dec 22, 2025
Changed: Aug 13
Last Checked: Sep 13 at 5:23AM
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 Lawler-Wood, LLC
Investment Insights
Based on property information with market context.
Completed in 1992, this Class A office condominium is located within a nine-story tower. Suite 901 sits on the top floor and features tasteful interior finishes with views on three sides. The suite is divided into two distinct sections, each accessible through a private entry off the main elevator lobby. The current build-out includes 15–16 private offices, conference and breakout spaces, a kitchen, copy/printing room, IT room, file storage, and a library. A private en-suite balcony on the rear overlooks the Tennessee River and South Waterfront.
Suite 901 also includes rights to +/-10 parking spaces in the attached parking garage. The space currently has an occupied portion and a majority of the suite is unoccupied; the owner occupies the northern-most section shown as the bullnose on the floor plan.
For a buyer seeking flexibility, the configuration supports both continued occupancy in the existing portion and future improvements or alterations across the broader suite as needed.
Suite 901 also includes rights to +/-10 parking spaces in the attached parking garage. The space currently has an occupied portion and a majority of the suite is unoccupied; the owner occupies the northern-most section shown as the bullnose on the floor plan.
For a buyer seeking flexibility, the configuration supports both continued occupancy in the existing portion and future improvements or alterations across the broader suite as needed.
Key Highlights
- Suite 901 is on the top floor of a nine‑story, completed‑in‑1992 Bank of America Center office tower
- Roughly 9,632 SF top‑floor suite with views on three sides: Downtown Knoxville, University of Tennessee/Neyland Stadium, and the Tennessee River/Smoky Mountains
- Suite includes two distinct sections with a private entry off the main elevator lobby, with 15–16 private offices plus multiple conference/breakout spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$127,431
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,548,620
$2.5M
Cap Rate 7%
$1,820,443
$1.8M
Cap Rate 9%
$1,415,900
$1.4M
Market Conditions
NOI Build-Up for 9,632 SF
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.
Gross rent
$202.3K $21.00/SF
− Vacancy
−$32.4K −$3.36/SF
EGI
$169.9K $17.64/SF
− OpEx
−$42.5K −$4.41/SF
NOI
$127.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,548,620
Cap Rate 7%
$1,820,443
Cap Rate 9%
$1,415,900
Alternative Uses
Best Use
Office B
$1.82M
$1.59M – $2.12M
NOI $127,431 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.39M
$2.09M – $2.78M
NOI $166,996 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,033
Businesses Nearby
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Business Placement
Demographics for 37902, TN
2,479
Population
1,908
Households
1.3
Avg Household Size
34
Median Age
55%
College-Educated
95%
High-School Grad
0.4 sq mi
ZIP Area
6,198
Density / Sq Mi
$56,397
Median Household Income
$50,471
Median Earnings
$1,322
Median Rent
$570,700
Median Home Value
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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 units - Top-floor, nine-story office condominium suite with multiple private offices, conference rooms, and an en-suite balcony.
Where is this office units located?
The property is located at 550 W Main St Knoxville, TN.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: Suite 901 is on the top floor of a nine‑story, completed‑in‑1992 Bank of America Center office tower; Roughly 9,632 SF top‑floor suite with views on three sides: Downtown Knoxville, University of Tennessee/Neyland Stadium, and the Tennessee River/Smoky Mountains; Suite includes two distinct sections with a private entry off the main elevator lobby, with 15–16 private offices plus multiple conference/breakout spaces
