Commercial Land with Road
For Sale
$479,000
8500 Asheville Hwy, Knoxville, TN 37924
Commercial Sale, Knoxville, TN
Property Size1,292 SF
Lot Size2.82 Acres
Price / SF$370.74
Days on Market48
Property Features for 8500 Asheville Hwy
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From Interstate I-40 exit Asheville Hwy, go east 10 miles to property on right. This property located very close to Carter Elementary School as a reference.
Standard status
Active
APN
062 247
Size
1,292 SF
Lot size
2.82 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
939
Building Details
Year built
1920
Floors in Building
1
Listing Agency:
Jackson Real Estate & Auction
(865) 397-4214
Listed By:
Mark Jackson · License #227129
(865) 548-4215
Added: Aug 26
Last Checked: Oct 12 at 8:06PM
MLS# 11951989
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2.82-acre commercial land offering includes three existing structures, two of which are occupied. The property was built in 1920 and is positioned along Asheville Highway in Knoxville’s Knox County. Zoning includes CA - General Business along the road frontage, while a separate portion carries the A General Agricultural designation. The site records approximately 21,054 vehicles per day, providing exposure along a major East Knoxville corridor. Carter Elementary School is located behind the property, and the adjoining parcel is zoned CB(k) for light manufacturing. Potential uses identified for the property include retail, auto repair, office, service, daycare, church, veterinary, and mixed-use development, subject to verification of zoning, utilities, permitted uses, and development requirements.
Key Highlights
- 2.82‑acre commercial tract on Asheville Highway
- Approximately 21,054 vehicles per day
- CA - General Business zoning on the road frontage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,558
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,160
$371.2K
Cap Rate 7%
$265,114
$265.1K
Cap Rate 9%
$206,200
$206.2K
Market Conditions
NOI Build-Up for 1,292 SF
Gross rent
$27.9K $21.60/SF
− Vacancy
−$1.4K −$1.08/SF
EGI
$26.5K $20.52/SF
− OpEx
−$8.0K −$6.16/SF
NOI
$18.6K $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 Rate 5%
$371,160
Cap Rate 7%
$265,114
Cap Rate 9%
$206,200
Alternative Uses
Best Use
Retail
$265.1K
$232.0K – $309.3K
NOI $18,558 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$320.0K
$280.0K – $373.3K
NOI $22,400 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Explore this area
Business Placement
Demographics for 37924, TN
12,894
Population
6,052
Households
2.1
Avg Household Size
41
Median Age
28%
College-Educated
91%
High-School Grad
27.9 sq mi
ZIP Area
462
Density / Sq Mi
$73,794
Median Household Income
$40,594
Median Earnings
$1,020
Median Rent
$217,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Knoxville, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Zoned CA along the road frontage, with an additional portion designated A for agricultural use.
Where is this commercial land located?
The property is located at 8500 Asheville Hwy Knoxville, TN.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: 2.82‑acre commercial tract on Asheville Highway; Approximately 21,054 vehicles per day; CA - General Business zoning on the road frontage
