Red Lobster NNN
8040 Kingston Pike, Knoxville, TN 37919
For Sale
Contact for pricing
The restaurant is leased under a long-term triple-net agreement with scheduled annual rent increases.
Property Size9,600 SF
Lot Size1.88 Acres
Price / SF$464.35
Days on Market43
Property Features for 8040 Kingston Pike
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Tenant in Place
Listing Agency:
SURMOUNT
Listed By:
Glen Kunofsky · License #NY 49KU1129178
(332) 345-4222
Source:
Crexi
Added: Sep 28
Changed: Nov 8
Last Checked: Nov 8 at 4:40PM
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 SURMOUNT
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Investment Insights
Based on property information with market context.
At 8040 Kingston Pike in Knoxville, the Red Lobster property includes approximately 9,600 square feet of building area on an estimated 1.88-acre parcel. The restaurant is subject to a 23-year triple-net lease that began on 7/27/2016, with annual rent increases scheduled at 2.00%.
Key Highlights
- Approximately 9,600 square feet of building space
- Estimated 1.88‑acre parcel
- 23‑year triple‑net lease commenced 7/27/2016
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$160,898
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,217,960
$3.2M
Cap Rate 7%
$2,298,543
$2.3M
Cap Rate 9%
$1,787,756
$1.8M
Market Conditions
NOI Build-Up for 9,600 SF
Gross rent
$224.6K $23.40/SF
− Vacancy
−$10.1K −$1.05/SF
EGI
$214.5K $22.35/SF
− OpEx
−$53.6K −$5.59/SF
NOI
$160.9K $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 Rate 5%
$3,217,960
Cap Rate 7%
$2,298,543
Cap Rate 9%
$1,787,756
Alternative Uses
Best Use
Specialty Retail
$2.30M
$2.01M – $2.68M
NOI $160,898 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.38M
$2.08M – $2.77M
NOI $166,441 @ 7.0% cap · market cap 3.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,177
Businesses Nearby
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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
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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?
NNN property - The restaurant is leased under a long-term triple-net agreement with scheduled annual rent increases.
Where is this nnn property located?
The property is located at 8040 Kingston Pike Knoxville, TN.
What is the asking price?
The asking price for this property is $4,457,778.
What are key features of this property?
This property features: Approximately 9,600 square feet of building space; Estimated 1.88‑acre parcel; 23‑year triple‑net lease commenced 7/27/2016
