Historic Creative
For Sale
Contact for pricing
8-12 Emory Pl, Knoxville, TN 37917
Three connected historic buildings provide brick facades, tall ceilings, and abundant natural light for flexible commercial use.
Property Size11,317 SF
Price / SF$273.92
Days on Market284
Property Features for 8-12 Emory Pl
General Information
Standard status
Active
Size
11,317 SF
Property subtype
OFFICE
Amenities
tall ceilings
abundant natural light
Building Details
Buildings
3
Construction
brick
Listing Agency:
SVN I Wood Properties
(423) 440-9450
Listed By:
Taylor Thompson
(423) 440-9450
Source:
Moodyscre
Added: Nov 20, 2025
Changed: Aug 31
Last Checked: Aug 31 at 1:27AM
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 SVN I Wood Properties
Investment Insights
Based on property information with market context.
This 11,317-square-foot creative space comprises three contiguous historic buildings at 8-12 Emory Pl. The properties retain classic brick exteriors and offer tall ceilings with abundant natural light, creating a distinctive setting for creative office, retail, gallery, or studio operations.
The property is located within Knoxville’s Emory Place Historic District, on the edge of Downtown Knoxville. The district is described as a design-oriented commercial hub with walkability and an active community setting. Its historic character and multi-building configuration support a range of owner-occupant, tenant, investor, or multi-use concepts expressly identified for the property.
The property is located within Knoxville’s Emory Place Historic District, on the edge of Downtown Knoxville. The district is described as a design-oriented commercial hub with walkability and an active community setting. Its historic character and multi-building configuration support a range of owner-occupant, tenant, investor, or multi-use concepts expressly identified for the property.
Key Highlights
- 11,317‑square‑foot creative space
- Three contiguous historic buildings
- Classic brick facades with tall ceilings
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
$162,557
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
5.24%
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%
$3,251,140
$3.3M
Cap Rate 7%
$2,322,243
$2.3M
Cap Rate 9%
$1,806,189
$1.8M
Market Conditions
NOI Build-Up for 11,317 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
$244.4K $21.60/SF
− Vacancy
−$12.2K −$1.08/SF
EGI
$232.2K $20.52/SF
− OpEx
−$69.7K −$6.16/SF
NOI
$162.6K $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 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%
$3,251,140
Cap Rate 7%
$2,322,243
Cap Rate 9%
$1,806,189
Alternative Uses
Best Use
Retail
$2.32M
$2.03M – $2.71M
NOI $162,557 @ 7.0% cap · market cap 5.24%
Second Best
Office B
$2.14M
$1.87M – $2.50M
NOI $149,724 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M
NOI $196,210 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,617
Businesses Nearby
Explore this area
Business Placement
Demographics for 37917, TN
25,013
Population
14,216
Households
1.8
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
9.5 sq mi
ZIP Area
2,633
Density / Sq Mi
$51,232
Median Household Income
$37,853
Median Earnings
$1,063
Median Rent
$189,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Three connected historic buildings provide brick facades, tall ceilings, and abundant natural light for flexible commercial use.
Where is this creative space located?
The property is located at 8-12 Emory Pl Knoxville, TN.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: 11,317‑square‑foot creative space; Three contiguous historic buildings; Classic brick facades with tall ceilings
