High-Visibility Knoxville Redevelopment
720-724 N Hall of Fame Dr, Knoxville, TN
Call to check price and availability
Prime 1.14-acre site near Downtown Knoxville with redevelopment potential.
Type:OFFICE
Property size:
24,519 SFLot size:
1.12 AcresPrice / SF:
$159/SF- Added:
- Jun 19, 2025
- Days on Market:
- 345
- Last Refresh:
- May 20 at 8:46 pm
Property Features for 720-724 N Hall of Fame Dr
General Information
- Standard status
- Active
- Size
- 24,519 SF
- Lot size
- 1.12 Acres
- Property subtype
- OFFICE
Listing agent Orel Brodt License #362711 (305) 606-1178
Listing office Alliance Sotheby's International Realty (305) 606-1178
Listing date Jun 19, 2025
Source Moodyscre
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 Alliance Sotheby's International Realty
HighLights
- Prime Knoxville location near Covenant Health Stadium and Downtown.
- High‑visibility 1.14‑acre site ideal for redevelopment or end‑user.
- Zoning (C‑G‑2 and I‑MU) supports diverse commercial, multifamily, and mixed‑use development.
- Located at the crossroads of Downtown and Old North Knoxville with heavy traffic.
- Instant access to major highways.
- Includes three existing buildings with potential for transformation.
Overview
This 1.14-acre site, situated near Covenant Health Stadium and two minutes from Downtown Knoxville, offers redevelopment or end-user opportunities. The property consists of two parcels with three existing buildings. Zoned C-G-2 and I-MU, the site allows for commercial, multifamily, and mixed-use developments. It is located at the intersection of Downtown and Old North Knoxville, benefiting from heavy daily traffic and immediate access to major highways. This location is suitable for a mixed-use development or a business seeking a strategic location. Concept renderings for mixed-use development are available.
Local Financial Insights For Office B
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 | $514.9k | $21.00 |
| − Vacancy | −$82.4k | −$3.36 |
| EGI | $432.5k | $17.64 |
| − OpEx | −$108.1k | −$4.41 |
| NOI | $324.4k | $13.23 |
24,519 SF · lease $21.00/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.63M
$4.05M – $5.41M
NOI $324,386 @ 7.0% cap · market cap 8.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.07M
$5.31M – $7.09M
NOI $425,101 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- Knoxville
- County
- Knox
- State
- Tennessee
- Longitude
- -83.9114
- Latitude
- 35.9634
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Prime 1.14-acre site near Downtown Knoxville with redevelopment potential.
Where is this office building located?
The property is located at 720-724 N Hall of Fame Dr Knoxville, TN.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Prime Knoxville location near Covenant Health Stadium and Downtown.; High‑visibility 1.14‑acre site ideal for redevelopment or end‑user.; Zoning (C‑G‑2 and I‑MU) supports diverse commercial, multifamily, and mixed‑use development.
