Historic-District Restaurant
For Sale
Contact for pricing
8 Emory Pl, Knoxville, TN 37917
Built-out restaurant space includes kitchen infrastructure, a bar area, and dining space.
Property Size3,586 SF
Price / SF$306.75
Days on Market199
Property Features for 8 Emory Pl
General Information
Standard status
Active
Size
3,586 SF
Class
B
Property subtype
Hospitality, Office, Retail
Zoning
DK-E
Lease Type
NNN
Building Details
Year Built
1928
Buildings
1
Stories
2
Units
1
Listing Agency:
SVN Wood Properties
(865) 776-5662
Listed By:
Taylor Thompson · License #377968
Source:
Crexi
Added: Feb 13
Changed: Aug 31
Last Checked: Aug 31 at 2:29AM
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 SVN Wood Properties
Investment Insights
Based on property information with market context.
This 3,586-square-foot restaurant property dates to 1928 and is configured with core operating areas already in place, including kitchen infrastructure, a bar, and dining space. Historic brick, tall ceilings, and exposed architectural features define the interior character. The property is zoned DK-E.
The building is located within Knoxville’s Emory Place Historic District, a setting described as a design-focused corridor with nearby residential, office, and retail uses. Its context includes walkable surroundings, visibility, and recurring pedestrian activity. Downtown Knoxville is only minutes away, adding convenient proximity to the city center.
The building is located within Knoxville’s Emory Place Historic District, a setting described as a design-focused corridor with nearby residential, office, and retail uses. Its context includes walkable surroundings, visibility, and recurring pedestrian activity. Downtown Knoxville is only minutes away, adding convenient proximity to the city center.
Key Highlights
- 3,586‑square‑foot restaurant property
- 1928 building with historic brick and exposed architectural features
- Existing kitchen infrastructure, bar area, and dining space
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
$60,102
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
5.46%
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%
$1,202,040
$1.2M
Cap Rate 7%
$858,600
$858.6K
Cap Rate 9%
$667,800
$667.8K
Market Conditions
NOI Build-Up for 3,586 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
$83.9K $23.40/SF
− Vacancy
−$3.8K −$1.05/SF
EGI
$80.1K $22.35/SF
− OpEx
−$20.0K −$5.59/SF
NOI
$60.1K $16.76/SF
Area
Knoxville, TN
Vacancy
4.50%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,202,040
Cap Rate 7%
$858,600
Cap Rate 9%
$667,800
Alternative Uses
Best Use
Specialty Retail
$858.6K
$751.3K – $1.00M
NOI $60,102 @ 7.0% cap · market cap 5.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$888.2K
$777.2K – $1.04M
NOI $62,173 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,617
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Knoxville, TN
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Built-out restaurant space includes kitchen infrastructure, a bar area, and dining space.
Where is this conventional restaurant located?
The property is located at 8 Emory Pl Knoxville, TN.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 3,586‑square‑foot restaurant property; 1928 building with historic brick and exposed architectural features; Existing kitchen infrastructure, bar area, and dining space
