Freestanding Restaurant
For Sale
Contact for pricing
5604 Merchants Center Blvd, Knoxville, TN 37912
Freestanding restaurant building with walk-in cooler and freezer, plus 3-compartment sink and dining seating.
Property Size5,025 SF
Price / SF$298.51
Days on Market121
Property Features for 5604 Merchants Center Blvd
General Information
Standard status
Active
Size
5,025 SF
Property subtype
Retail
Site & Location
Traffic Count
17,743 vehicles/day
Highway Access
Yes
Additional Details
Furnished
Yes
Building Details
Buildings
1
Stories
1
Listing Agency:
Southland commercial Group
Listed By:
Raj Cheema · License #335652
(865) 466-7240
Source:
Crexi
Added: Jun 30
Changed: Oct 25
Last Checked: Oct 28 at 6:59AM
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 Southland commercial Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding restaurant building totals 5,025 square feet and is offered for sale as a ready-to-operate space. The property includes key commercial kitchen equipment such as a walk-in cooler, walk-in freezer, and a 3-compartment sink. Dining features include tables, booths, and chairs.
The building is located in a high-traffic commercial corridor off I-75 near Merchant Drive. Reported traffic counts include 86,026 vehicles per day on I-75 and 17,743 vehicles per day on Merchant Drive (TDOT).
The current offering is described as a former IHOP location and is positioned among hotels, retail shops, and other commercial businesses.
The building is located in a high-traffic commercial corridor off I-75 near Merchant Drive. Reported traffic counts include 86,026 vehicles per day on I-75 and 17,743 vehicles per day on Merchant Drive (TDOT).
The current offering is described as a former IHOP location and is positioned among hotels, retail shops, and other commercial businesses.
Key Highlights
- Freestanding restaurant building over 5,000 SF in the Merchant Drive commercial corridor just off I‑75
- Restaurant equipment included: walk‑in cooler, walk‑in freezer, and 3‑compartment sink
- Dining seating included with tables, booths, and chairs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,220
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,684,400
$1.7M
Cap Rate 7%
$1,203,143
$1.2M
Cap Rate 9%
$935,778
$935.8K
Market Conditions
NOI Build-Up for 5,025 SF
Gross rent
$117.6K $23.40/SF
− Vacancy
−$5.3K −$1.05/SF
EGI
$112.3K $22.35/SF
− OpEx
−$28.1K −$5.59/SF
NOI
$84.2K $16.76/SF
Area
Knoxville, TN
Vacancy
4.50%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,684,400
Cap Rate 7%
$1,203,143
Cap Rate 9%
$935,778
Alternative Uses
Best Use
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $84,220 @ 7.0% cap · market cap 5.61%
Second Best
Industrial
$481.8K
$421.6K – $562.1K
NOI $33,726 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,121 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
17,743 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37912, TN
22,313
Population
10,916
Households
2
Avg Household Size
36
Median Age
23%
College-Educated
88%
High-School Grad
10.6 sq mi
ZIP Area
2,105
Density / Sq Mi
$44,754
Median Household Income
$30,859
Median Earnings
$1,050
Median Rent
$185,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Knoxville, TN
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding restaurant building with walk-in cooler and freezer, plus 3-compartment sink and dining seating.
Where is this conventional restaurant located?
The property is located at 5604 Merchants Center Blvd Knoxville, TN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Freestanding restaurant building over 5,000 SF in the Merchant Drive commercial corridor just off I‑75; Restaurant equipment included: walk‑in cooler, walk‑in freezer, and 3‑compartment sink; Dining seating included with tables, booths, and chairs
