Retail Strip Center Development
For Sale
$2,500,000
7220 Chapman Hwy, Knoxville, TN 37920
Retail strip center with high growth and traffic location.
Property Size13,260 SF
Days on Market320
Property Features for 7220 Chapman Hwy
General Information
Standard status
Active
Size
13,260 SF
Property subtype
Retail
Building Details
Building Size
13,260 SF
Year Built
1979
Listing Agency:
NAI Koella RM Moore - Knoxville
Listed By:
Justin Sterling · License #305457
(865) 236-1610
Source:
Koellamoore
Added: Nov 21, 2025
Changed: Sep 6
Last Checked: Oct 7 at 9:22AM
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 NAI Koella RM Moore - Knoxville
Investment Insights
Based on property information with market context.
This property presents a development opportunity in a high-growth, high-traffic area with excellent visibility. The property includes a retail strip center with income and value-add upside. An additional 0.6 acres is available separately. The purchase price includes the entire strip center and land. The property is suited for an owner-developer to strategically manage existing leases and tenants. The property is located on Chapman Hwy.
Key Highlights
- High growth, high traffic location with excellent visibility.
- Development opportunity with excess land.
- Retail strip center provides existing income.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$190,467
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,809,340
$3.8M
Cap Rate 7%
$2,720,957
$2.7M
Cap Rate 9%
$2,116,300
$2.1M
Market Conditions
NOI Build-Up for 13,260 SF
Gross rent
$286.4K $21.60/SF
− Vacancy
−$14.3K −$1.08/SF
EGI
$272.1K $20.52/SF
− OpEx
−$81.6K −$6.16/SF
NOI
$190.5K $14.36/SF
Area
Knoxville, TN
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,809,340
Cap Rate 7%
$2,720,957
Cap Rate 9%
$2,116,300
Alternative Uses
Best Use
Retail
$2.72M
$2.38M – $3.17M
NOI $190,467 @ 7.0% cap · market cap 7.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.28M
$2.87M – $3.83M
NOI $229,897 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
304
Businesses Nearby
Explore this area
Business Placement
Demographics for 37920, TN
41,210
Population
20,180
Households
2
Avg Household Size
37
Median Age
34%
College-Educated
91%
High-School Grad
72.3 sq mi
ZIP Area
570
Density / Sq Mi
$61,348
Median Household Income
$35,591
Median Earnings
$1,092
Median Rent
$231,300
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip center with high growth and traffic location.
Where is this strip mall located?
The property is located at 7220 Chapman Hwy Knoxville, TN.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: High growth, high traffic location with excellent visibility.; Development opportunity with excess land.; Retail strip center provides existing income.
