Office Building With Available
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9721 9721 Cogdill Rd, Knoxville, TN 37932
Well-maintained commercial office property with a future vacancy supporting flexible ownership and occupancy planning.
Property Size26,340 SF
Price / SF$265.76
Days on Market2
Property Features for 9721 9721 Cogdill Rd
General Information
Standard status
Active
Size
26,340 SF
Property subtype
OFFICE
Building Details
Buildings
1
Building Size
26,340 SF
Listing Agency:
Avison Young
(865) 617-2989
Listed By:
Justin Cazana · License #00295115
(865) 617-2989
Source:
Moodyscre
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 9:46AM
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.
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.
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 = 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
$348,478
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
4.98%
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%
$6,969,560
$7.0M
Cap Rate 7%
$4,978,257
$5.0M
Cap Rate 9%
$3,871,978
$3.9M
Market Conditions
NOI Build-Up for 26,340 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
$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 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%
$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
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
NOI $456,672 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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
