5439 Washington Pike Knoxville, TN 37918
- Lifestyle centers
- 166,035 SF
Current Use by Public Records
- Ross Dress for Less / Clothing Store / Department Store
Property Details for 5439 Washington Pike
- Year built
- 2007
- Property size
- 166,035 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 166,035 square foot shopping center in Knoxville, Tennessee, boasts a prime location at 5439 Washington Pike, zip code 37918. Built in 2007, the center currently enjoys 97% occupancy with a strong mix of national retailers including Dollar Tree, Marshalls, Ulta, Five Below, Ross Dress for Less, and Old Navy. Ten of the sixteen tenants have occupied the center for at least a decade, many with below-market rents, indicating significant upside potential. Recent lease signings with Ulta and Five Below underscore the continued demand for this location. The center benefits from a large trade area, with 52% of shoppers residing over five miles away, and serves as a primary retail hub for East Knoxville, as many tenants lack nearby alternatives. Knoxville's robust residential growth, particularly in Knox County (the second fastest-growing county in Tennessee), further strengthens the center's position. Its proximity to I-640 (63,776 vehicles per day) ensures excellent accessibility. The impending completion of a nearby Amazon distribution center promises additional job creation and increased foot traffic. Furthermore, the property includes two developable ground lease pads, offering substantial value-add opportunities and potential for increased income. This investment presents a compelling opportunity in a rapidly expanding market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Knoxville
- County
- Knox
- State
- Tennessee
- Longitude
- -83.8868
- Latitude
- 36.0372
