Multi-Tenant Office
For Sale
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9080 Barbee Ln, Knoxville, TN 37923
Well-maintained, flexible multi-tenant office building with ample surface parking in West Knoxville’s Colony Village area.
Property Size10,134 SF
Price / SF$197.36
Days on Market240
Property Features for 9080 Barbee Ln
General Information
Standard status
Active
Size
10,134 SF
Property subtype
OFFICE
Building Details
Tenancy
Multi
Listing Agency:
Avison Young
(865) 450-8883
Listed By:
Justin Cazana · License #00295115
(865) 617-2989
Source:
Moodyscre
Added: Jan 15
Changed: Aug 8
Last Checked: Sep 12 at 9:44AM
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 Avison Young
Investment Insights
Based on property information with market context.
9080 Barbee Lane is a well-maintained, multi-tenant office building offering a flexible layout suited for a variety of office and professional uses. The property provides a professional setting with a combination of privacy and accessibility for tenants and visitors.
Located in West Knoxville’s Colony Village area, the building is positioned with convenient access to I-40 and major commercial amenities. The surrounding residential corridor supports a practical live-work draw for professionals while still keeping the property connected to broader commercial services.
The asset includes ample surface parking and is presented with strong curb appeal in a quiet, connected setting, supporting both investor ownership and owner-occupant control.
Located in West Knoxville’s Colony Village area, the building is positioned with convenient access to I-40 and major commercial amenities. The surrounding residential corridor supports a practical live-work draw for professionals while still keeping the property connected to broader commercial services.
The asset includes ample surface parking and is presented with strong curb appeal in a quiet, connected setting, supporting both investor ownership and owner-occupant control.
Key Highlights
- Well‑maintained multi‑tenant office building in West Knoxville’s Colony Village area
- Flexible layout suited for a variety of office and professional uses
- Ample surface parking
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
$134,073
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
6.70%
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%
$2,681,460
$2.7M
Cap Rate 7%
$1,915,329
$1.9M
Cap Rate 9%
$1,489,700
$1.5M
Market Conditions
NOI Build-Up for 10,134 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
$212.8K $21.00/SF
− Vacancy
−$34.1K −$3.36/SF
EGI
$178.8K $17.64/SF
− OpEx
−$44.7K −$4.41/SF
NOI
$134.1K $13.23/SF
Area
Knoxville, TN
Vacancy
16.00%
Lease Rate
$21.00 /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%
$2,681,460
Cap Rate 7%
$1,915,329
Cap Rate 9%
$1,489,700
Alternative Uses
Best Use
Office B
$1.92M
$1.68M – $2.23M
NOI $134,073 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,699 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Explore this area
Business Placement
Demographics for 37923, TN
29,705
Population
14,238
Households
2.1
Avg Household Size
37
Median Age
47%
College-Educated
93%
High-School Grad
11.1 sq mi
ZIP Area
2,676
Density / Sq Mi
$70,046
Median Household Income
$42,498
Median Earnings
$1,303
Median Rent
$292,500
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Well-maintained, flexible multi-tenant office building with ample surface parking in West Knoxville’s Colony Village area.
Where is this office building located?
The property is located at 9080 Barbee Ln Knoxville, TN.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: Well‑maintained multi‑tenant office building in West Knoxville’s Colony Village area; Flexible layout suited for a variety of office and professional uses; Ample surface parking
