675 Middle Crk Rd Sevierville, TN 37862-5014
- Medical offices
- 2,827 SF
Current Use by Public Records
- Middle Creek Family Practice / Medical Clinic / Family Practice Physician
- Tolley, Vincent / Family Practice Physician
- Jennifer Marsh / Nurse Practitioner
- Misischia Mary MD / Doctor
- Pamela Sturgill / Practitioner Service Location / Physician Assistant
Property Details for 675 Middle Crk Rd
- Year built
- 1987
- Property size
- 2,827 SF
- Zone code
- C-4
- Property type
- Medical offices
- Property subtype
- Medical centers
- APN
- 078062 01401 001
- APU
- 7806201401001
Description
This exceptional 14,135-square-foot medical office building in Sevierville, Tennessee presents a compelling investment opportunity. The property boasts 100% occupancy with two tenants: a regional and a national medical group. Both tenants are under long-term, triple-net (NNN) leases, ensuring minimal landlord responsibilities. The leases feature attractive 3% annual rent increases, providing predictable income growth. Summit Medical Group recently completed a $600,000 renovation to their space in 2023, and English Mountain Recovery is currently undergoing a $100,000 renovation. The building, constructed in 1985, benefits from a highly desirable location within a thriving medical corridor, situated across from LeConte Medical Center and adjacent to a VA Medical Center, the Sevier County Health Department, and the Burchfiel Medical Professional Building. The strong tenant base, coupled with the strategic location in a major tourist destination near the Great Smoky Mountains National Park and Dollywood, makes this a stable and potentially high-growth investment. The asking price is $3,375,000, representing a 7.25% cap rate. Summit Medical Group's lease is for 15 years, and English Mountain Recovery's lease is for 7 years. This property offers a rare combination of strong tenancy, predictable income, and significant upside potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $290,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $315,000
- 6.5%
- $340,000
- 7%
- $310,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $325,000
- Geo Method
- $385,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $380,000
- Retail
- $380,000
- Mixed-Use
- $310,000
- Hospitality
- $330,000
- Educational
- $335,000
- Residential Income
- $345,000
- Energy
- $335,000
- Income-Based Land
- $310,000
- Food Service
- $300,000
Location Insight
- Map
- Local Demand
- City
- Sevierville
- County
- Sevier
- State
- Tennessee
- Longitude
- -83.5409
- Latitude
- 35.8546
- CBSA code
- 42940
- CBSA name
- SEVIERVILLE, TN MICROPOLITAN STATISTICAL AREA
