0 Outlet DrKnoxville, TN 37932

Property Details for 0 Outlet Dr

Property size (Sq ft)

46,678 SF

Property type

Sports & entertainment properties

Property subtype

Other specialty properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a Topgolf facility in Knoxville, Tennessee. Built in 2022, this 46,678 square foot, single-tenant property boasts a strong 6.03% cap rate and a substantial net operating income (NOI) of $2,142,000. The property is situated on Outlet Dr, conveniently located off I-40 at the intersection of Highway 140, within a thriving retail and hospitality development. The absolute NNN lease, featuring a corporate guarantee from Callaway Golf, provides exceptional security and stability. With 18 years remaining on the lease term, commencing June 1, 2022, and rent bumps of 10% every five years, this asset offers significant long-term growth potential. The property features zero loading docks. Two lease options are available. The asking price is $35,700,000. This prime investment asset offers a compelling combination of strong cash flow, secure tenancy, and significant upside potential. The motivated seller invites inquiries for further details.

Location Insight

City

Knoxville

County

Knox

State

Tennessee

Latitude

35.9041

Longitude

-84.158

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