Building Details

Buildings 1

Building Size 26,340 SF

Listing Agency: Avison Young Show Phone

Listed By: Justin Cazana · License #00295115 Show Phone

Source: Moodyscre

Added: Aug 30 Changed: Oct 2 Last Checked: Oct 15 at 2:38AM

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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

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Investment Insights

Based on property information with market context.

This 26,340-square-foot commercial office building is described as well maintained and includes an 8,000-square-foot space scheduled to become available on January 1, 2027. The configuration supports both an owner-user seeking its own facility and an investor evaluating a commercial office asset.

The property is positioned off Pellissippi Parkway, with stated drive times of 16 minutes to Oak Ridge, 15 minutes to McGhee Tyson Airport, and 17 minutes to Downtown Knoxville. Recent capital work includes replacement of all HVAC units within the past three years, providing an updated building systems profile.

Key Highlights

• 26,340 SF commercial office building
• 8,000 SF space scheduled to become available January 1, 2027
• All HVAC units replaced within the past three years

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$348,478

Cap Rate

4.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,969,560 $7.0M

Cap Rate 7%

$4,978,257 $5.0M

Cap Rate 9%

$3,871,978 $3.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 26,340 SF

Gross rent

$553.1K $21.00/SF

− Vacancy

−$88.5K −$3.36/SF

EGI

$464.6K $17.64/SF

− OpEx

−$116.2K −$4.41/SF

NOI

$348.5K $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 Rate 5%

$6,969,560

Cap Rate 7%

$4,978,257

Cap Rate 9%

$3,871,978

Alternative Uses

Best Use

Office B

$4.98M

$4.36M – $5.81M (±1% cap)

NOI $348,478 @ 7.0% cap · market cap 4.98%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$6.52M

$5.71M – $7.61M (±1% cap)

NOI $456,672 @ 7.0% cap · market cap 6.52%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Patriot Investment Management Financial Advisor ELD Solutions (Bike/Boat/Book/etc) Store Priority OnDemand - Corporate ... Ambulance Service Miller Energy Resources Government CIC Services LLC Financial Advisor

Suggested Use

Top Pick Dental Office Electrical Service HVAC Service Garden Center Spa & Massage Center Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

476

Businesses Nearby

Explore this area Business Placement

Demographics for 37932, TN

21,726

Population

9,141

Households

2.4

Avg Household Size

38

Median Age

55%

College-Educated

94%

High-School Grad

29.0 sq mi

ZIP Area

749

Density / Sq Mi

$109,900

Median Household Income

$61,936

Median Earnings

$1,516

Median Rent

$431,200

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Well-maintained commercial office property with a future vacancy supporting flexible ownership and occupancy planning.

Where is this office building located?

The property is located at 9721 9721 Cogdill Rd Knoxville, TN.

What is the asking price?

The asking price for this property is $7,000,000.

What are key features of this property?

This property features: 26,340 SF commercial office building; 8,000 SF space scheduled to become available January 1, 2027; All HVAC units replaced within the past three years