Brick Mixed-Use Office
714 S Gay St Knoxville, TN 37902
For Sale
Contact for pricing
Partially leased building with first-floor retail and office, plus available upper floors for professional office use.
Property Size7,872 SF
Price / SF$292.17
Days on Market462
Property Features for 714 S Gay St
General Information
Standard status
Active
Size
7,872 SF
Property subtype
RETAIL
Listing Agency:
Wallace Commercial
(865) 309-4950
Listed By:
Christa Rosenberg
(865) 309-4950
Source:
Moodyscre
Added: Apr 24, 2025
Changed: Jul 27
Last Checked: Jul 29 at 3:00PM
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 Wallace Commercial
Investment Insights
Based on property information with market context.
This partially occupied brick-lined building includes leased first-floor retail and office space along with additional areas available for a professional office user. The first floor features brick walls and hardwood flooring under cover, and the basement has updated engineering support installed in 2023–2024. A new roof was added during the same period.
The second and third floors include a third-floor mezzanine, providing usable space for an office tenant. Parking is available in the back of the building. The property is located on the east side of S Gay Street, between Church St and Cumberland Ave.
The property is configured with first-floor and basement space leased to a single tenant, while the upper floors are currently available. Advanced notice is required for showings, and tenants should not be disturbed.
The second and third floors include a third-floor mezzanine, providing usable space for an office tenant. Parking is available in the back of the building. The property is located on the east side of S Gay Street, between Church St and Cumberland Ave.
The property is configured with first-floor and basement space leased to a single tenant, while the upper floors are currently available. Advanced notice is required for showings, and tenants should not be disturbed.
Key Highlights
- Partially occupied building for sale with first‑floor retail and office space plus leased basement to a single tenant
- First floor and basement are leased; second and third floors (including third‑floor mezzanine) are available for a professional office user
- NEW ROOF and updated engineering support in the basement completed in 2023–2024
Financial Insights For 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 | $170.0k | $21.60 |
| − Vacancy | −$8.5k | −$1.08 |
| EGI | $161.5k | $20.52 |
| − OpEx | −$48.5k | −$6.16 |
| NOI | $113.1k | $14.36 |
7,872 SF · lease $21.60/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.62M
$1.41M – $1.88M
NOI $113,073 @ 7.0% cap · market cap 4.92%
Second Best
Office B
$1.49M
$1.30M – $1.74M
NOI $104,147 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$1.95M
$1.71M – $2.27M
NOI $136,482 @ 7.0% cap · market cap 5.93%
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?
Retail space - Partially leased building with first-floor retail and office, plus available upper floors for professional office use.
Where is this retail space located?
The property is located at 714 S Gay St Knoxville, TN.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Partially occupied building for sale with first‑floor retail and office space plus leased basement to a single tenant; First floor and basement are leased; second and third floors (including third‑floor mezzanine) are available for a professional office user; NEW ROOF and updated engineering support in the basement completed in 2023–2024
