Fully Leased Strip Center with NNN
For Sale
Contact for pricing
739 Dolly Parton Pkwy, Sevierville, TN 37862
Fully leased strip center with NNN leases and six tenants, including a 10-year Chicken Salad Chick lease.
Property Size13,697 SF
Price / SF$188.20
Days on Market151
Property Features for 739 Dolly Parton Pkwy
General Information
Standard status
Active
Size
13,697 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$219,106
Additional Details
Business Included
Yes
Building Details
Year Built
2005
Buildings
1
Units
6
Tenancy
Multi
Listing Agency:
Matthews
Listed By:
Tanner Sanford · License #TN 370826
Source:
Crexi
Added: Apr 7
Changed: Aug 24
Last Checked: Aug 31 at 9:41PM
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 Matthews
Investment Insights
Based on property information with market context.
This fully leased strip center offers a leasehold interest and is arranged under NNN lease terms. The property totals 13,697 SF and is currently occupied by a diverse six-tenant mix, highlighted by a new Chicken Salad Chick 10-year lease. Approximately 30 years of remaining ground lease term is noted as part of the offering.
Located at 739 Dolly Parton Pkwy in Sevierville, TN, the center is positioned as an outparcel to Food City and benefits from visibility and traffic exposure along one of the area’s primary retail corridors. The property is also described as just minutes from Dollywood, supporting consistent traffic to the surrounding area.
Located at 739 Dolly Parton Pkwy in Sevierville, TN, the center is positioned as an outparcel to Food City and benefits from visibility and traffic exposure along one of the area’s primary retail corridors. The property is also described as just minutes from Dollywood, supporting consistent traffic to the surrounding area.
Key Highlights
- Fully leased 13,697 SF strip center with NNN leases and six‑tenant mix in Sevierville, TN
- New Chicken Salad Chick 10‑year lease is part of the tenant mix
- Approximately 30 years remaining on the ground lease
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
$167,577
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
6.50%
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%
$3,351,540
$3.4M
Cap Rate 7%
$2,393,957
$2.4M
Cap Rate 9%
$1,861,967
$1.9M
Market Conditions
NOI Build-Up for 13,697 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
$246.5K $18.00/SF
− Vacancy
−$7.1K −$0.52/SF
EGI
$239.4K $17.48/SF
− OpEx
−$71.8K −$5.24/SF
NOI
$167.6K $12.23/SF
Area
Sevier County, TN
Vacancy
2.90%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,351,540
Cap Rate 7%
$2,393,957
Cap Rate 9%
$1,861,967
Alternative Uses
Best Use
Retail
$2.39M
$2.09M – $2.79M
NOI $167,577 @ 7.0% cap · market cap 6.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.78M
$5.05M – $6.74M
NOI $404,335 @ 7.0% cap · market cap 15.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37862, TN
23,236
Population
13,676
Households
1.7
Avg Household Size
43
Median Age
23%
College-Educated
87%
High-School Grad
81.8 sq mi
ZIP Area
284
Density / Sq Mi
$58,110
Median Household Income
$31,490
Median Earnings
$956
Median Rent
$283,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased strip center with NNN leases and six tenants, including a 10-year Chicken Salad Chick lease.
Where is this shopping center located?
The property is located at 739 Dolly Parton Pkwy Sevierville, TN.
What is the asking price?
The asking price for this property is $2,577,717.
What are key features of this property?
This property features: Fully leased 13,697 SF strip center with NNN leases and six‑tenant mix in Sevierville, TN; New Chicken Salad Chick 10‑year lease is part of the tenant mix; Approximately 30 years remaining on the ground lease
