Freestanding
9214 PARK W BLVD, Knoxville, TN 37923
For Sale
Contact for pricing
The restaurant operates under an absolute NNN lease backed by a corporate guaranty and scheduled rent increases.
Property Size9,316 SF
Lot Size1.52 Acres
Price / SF$334.25
Days on Market35
Property Features for 9214 PARK W BLVD
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Traffic Count
Highway Access
Road Access
Additional Details
Tenant in Place
Building Details
Buildings
Tenancy
Listing Agency:
Orion Real Estate Group
Listed By:
Duane Comprosky · License #BK3279960
Source:
Crexi
Added: Oct 6
Changed: Nov 8
Last Checked: Nov 8 at 4:28PM
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 Orion Real Estate Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding Cracker Barrel restaurant in Knoxville encompasses 9,316 square feet on a 1.52-acre parcel. The lease is structured as absolute NNN, carries a corporate guaranty from Cracker Barrel Old Country Store, Inc., and provides for 1.5% annual rent increases. Its initial term is 20 years, with four 5-year renewal options.
The property fronts I-40, which carries approximately 170,970 vehicles per day. The Cedar Bluff interchange, where I-40 and I-75 meet, is nearby. Retail, hotel, and healthcare uses are also present in the surrounding area. The site is in West Knoxville, within a retail and medical corridor.
The property fronts I-40, which carries approximately 170,970 vehicles per day. The Cedar Bluff interchange, where I-40 and I-75 meet, is nearby. Retail, hotel, and healthcare uses are also present in the surrounding area. The site is in West Knoxville, within a retail and medical corridor.
Key Highlights
- 9,316‑square‑foot freestanding Cracker Barrel restaurant on 1.52 acres
- Absolute NNN lease with a 20‑year initial term
- Corporate guaranty from Cracker Barrel Old Country Store, Inc.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$156,138
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,122,760
$3.1M
Cap Rate 7%
$2,230,543
$2.2M
Cap Rate 9%
$1,734,867
$1.7M
Market Conditions
NOI Build-Up for 9,316 SF
Gross rent
$218.0K $23.40/SF
− Vacancy
−$9.8K −$1.05/SF
EGI
$208.2K $22.35/SF
− OpEx
−$52.0K −$5.59/SF
NOI
$156.1K $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 Rate 5%
$3,122,760
Cap Rate 7%
$2,230,543
Cap Rate 9%
$1,734,867
Alternative Uses
Best Use
Specialty Retail
$2.23M
$1.95M – $2.60M
NOI $156,138 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.31M
$2.02M – $2.69M
NOI $161,517 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
170,970 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in Knoxville, TN
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The restaurant operates under an absolute NNN lease backed by a corporate guaranty and scheduled rent increases.
Where is this conventional restaurant located?
The property is located at 9214 PARK W BLVD Knoxville, TN.
What is the asking price?
The asking price for this property is $3,113,900.
What are key features of this property?
This property features: 9,316‑square‑foot freestanding Cracker Barrel restaurant on 1.52 acres; Absolute NNN lease with a 20‑year initial term; Corporate guaranty from Cracker Barrel Old Country Store, Inc.
