Established Retail Building For
For Sale
$3,118,000
7804 Montvue Center Way, Knoxville, TN 37919
Retail building with established tenants, Anytime Fitness and Big Kahuna.
Property Size10,800 SF
Price / SF$288.70
Days on Market204
Property Features for 7804 Montvue Center Way
General Information
Standard status
Active
Size
10,800 SF
Property subtype
Shopping Strip
Amenities
Located On the Main Retail Corridor, Surrounded by Major Retailers and Adjacent to the Newly Renovated West Town Mall, the Largest Mall in Tennessee at Over 1.3 Million Square Feet
Easily Accessible from I-40 with Traffic Counts of Over 178,000 VPD
Anytime Fitness is Operated by a Seasoned Franchisee with Over 60 Locations Nationwide
Each Tenant is on a Separate Parcel, Contiguous with Back Nine, a National Indoor Golf Concept with 200+ Locations
Average Household Income of Over $114,000
Building Details
Building Size
10,800 SF
Year Built
1972
Listing Agency:
Fort Lauderdale Office
(954) 245-3400
Listed By:
David E. Gant · License #FL: SL 671779, NC: LC153
(954) 245-3446
Source:
Marcusmillichap
Added: Apr 3
Changed: Oct 21
Last Checked: Oct 23 at 3:29AM
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 Fort Lauderdale Office
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This well-located and attractive building is available for sale and currently houses two established NNN tenants: Anytime Fitness and Big Kahuna Wings. The property is suitable for commercial real estate, including retail, strip malls, fitness centers and gyms, sports and entertainment venues, and restaurants. The building has a total size of 10800 square feet.
Key Highlights
- Two established NNN tenants offer a stable investment.
- Attractive building.
- Anytime Fitness is a tenant.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$155,131
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,102,620
$3.1M
Cap Rate 7%
$2,216,157
$2.2M
Cap Rate 9%
$1,723,678
$1.7M
Market Conditions
NOI Build-Up for 10,800 SF
Gross rent
$233.3K $21.60/SF
− Vacancy
−$11.7K −$1.08/SF
EGI
$221.6K $20.52/SF
− OpEx
−$66.5K −$6.16/SF
NOI
$155.1K $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%
$3,102,620
Cap Rate 7%
$2,216,157
Cap Rate 9%
$1,723,678
Alternative Uses
Best Use
Retail
$2.22M
$1.94M – $2.59M
NOI $155,131 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.67M
$2.34M – $3.12M
NOI $187,246 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,236
Businesses Nearby
Explore this area
Business Placement
Demographics for 37919, TN
30,822
Population
15,499
Households
2
Avg Household Size
38
Median Age
58%
College-Educated
95%
High-School Grad
19.1 sq mi
ZIP Area
1,614
Density / Sq Mi
$71,863
Median Household Income
$44,968
Median Earnings
$1,247
Median Rent
$453,000
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
Frequently Asked Questions
What type of property is this?
Strip mall - Retail building with established tenants, Anytime Fitness and Big Kahuna.
Where is this strip mall located?
The property is located at 7804 Montvue Center Way Knoxville, TN.
What is the asking price?
The asking price for this property is $3,118,000.
What are key features of this property?
This property features: Two established NNN tenants offer a stable investment.; Attractive building.; Anytime Fitness is a tenant.
