Freestanding Restaurant
5604 Merchants Center Blvd Knoxville, TN 37912
For Sale
Contact for pricing
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 Market85
Property Features for 5604 Merchants Center Blvd
General Information
Standard status
Active
Size
5,025 SF
Property subtype
RETAIL
Listing Agency:
Southland Brokers
(865) 466-7240
Listed By:
Raj Cheema
(865) 466-7240
Source:
Moodyscre
Added: May 6
Changed: Jul 28
Last Checked: Jul 28 at 11:29AM
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 Brokers
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 For Specialty Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $117.6k | $23.40 |
| − Vacancy | −$5.3k | −$1.05 |
| EGI | $112.3k | $22.35 |
| − OpEx | −$28.1k | −$5.59 |
| NOI | $84.2k | $16.76 |
5,025 SF · lease $23.40/SF/yr · vacancy 4.50% · expense 25.00%
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.
Property Analytics
Location Intelligence
Current Use
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
