Single-Story Office
New
For Sale
$2,100,000
618 N Broadway St, Knoxville, TN 37917
DK-E zoning accommodates office, retail, showroom, and creative studio uses.
Property Size6,198 SF
Price / SF$338.82
Days on Market4
Property Features for 618 N Broadway St
General Information
Standard status
Active
Size
6,198 SF
Class
A
Property subtype
Office
Zoning
DK-E
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
open interiors
natural light
on-site parking
walkable access to restaurants, coffee shops, and neighborhood amenities
Building Details
Building Size
6,198 SF
Year Built
1920
Year Renovated
2005
Buildings
1
Stories
1
Construction
brick
Listing Agency:
SVN I Wood Properties
Listed By:
Taylor Thompson
(423) 440-9450
Source:
Svnwood
Added: Sep 28
Last Checked: Oct 1 at 8:44AM
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 SVN I Wood Properties
Investment Insights
Based on property information with market context.
This 6,198-square-foot office property is a single-story, brick building constructed in 1920 and updated in 2005. Open interior areas and natural light shape the space, with on-site surface parking. The DK-E zoning supports office, retail, showroom, and creative studio uses.
The property is in Knoxville’s Emory Place Historic District, north of Downtown. It sits along North Broadway, with access to I-40, the Old City, Market Square, and The University of Tennessee. Restaurants, coffee shops, and neighborhood businesses are within walking distance.
The property is in Knoxville’s Emory Place Historic District, north of Downtown. It sits along North Broadway, with access to I-40, the Old City, Market Square, and The University of Tennessee. Restaurants, coffee shops, and neighborhood businesses are within walking distance.
Key Highlights
- 6,198‑square‑foot building, constructed in 1920 and updated in 2005
- Single‑story brick structure with open interior areas and natural light
- DK‑E zoning supports office, retail, showroom, and creative studio uses
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
$82,000
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
3.90%
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%
$1,640,000
$1.6M
Cap Rate 7%
$1,171,429
$1.2M
Cap Rate 9%
$911,111
$911.1K
Market Conditions
NOI Build-Up for 6,198 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
$130.2K $21.00/SF
− Vacancy
−$20.8K −$3.36/SF
EGI
$109.3K $17.64/SF
− OpEx
−$27.3K −$4.41/SF
NOI
$82.0K $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%
$1,640,000
Cap Rate 7%
$1,171,429
Cap Rate 9%
$911,111
Alternative Uses
Best Use
Office B
$1.17M
$1.03M – $1.37M
NOI $82,000 @ 7.0% cap · market cap 3.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.34M – $1.79M
NOI $107,458 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,578
Businesses Nearby
Explore this area
Business Placement
Demographics for 37917, TN
25,013
Population
14,216
Households
1.8
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
9.5 sq mi
ZIP Area
2,633
Density / Sq Mi
$51,232
Median Household Income
$37,853
Median Earnings
$1,063
Median Rent
$189,100
Median Home Value
Check the figures for this property
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 - DK-E zoning accommodates office, retail, showroom, and creative studio uses.
Where is this office building located?
The property is located at 618 N Broadway St Knoxville, TN.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 6,198‑square‑foot building, constructed in 1920 and updated in 2005; Single‑story brick structure with open interior areas and natural light; DK‑E zoning supports office, retail, showroom, and creative studio uses
