804 Us-321 Lenoir City, TN 37771
- Lifestyle centers
- 7,058 SF
- 0.78 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 804 Us-321
- Year built
- 1983
- Lot size
- 0.78 lot acres
- Property size
- 7,058 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents the Tellico Retail Center, a 7,058 square-foot multi-tenant shopping center in Lenoir City, Tennessee. Located at 804 US-321, this property boasts a prime location in a high-traffic area, with nearly 30,000 vehicles passing daily on US-321 and easy access to I-75 (50,000+ VPD). The center features four units, currently 100% occupied with NNN leases, minimizing landlord responsibilities and maximizing passive income. The asking price is $1,853,000, representing an attractive 8.40% cap rate and a net operating income (NOI) of $155,599. Built in 1983 and renovated in 2020 (including roof and parking lot improvements), the 0.78-acre property benefits from its proximity to major retailers such as Tractor Supply, Home Depot, Walmart, and more, as well as a new multi-family development adding to the area's growth. The center's tenants include a TitleMax location with a recently exercised option, showcasing the strong tenant demand. This property offers a unique opportunity to acquire a well-maintained, high-performing retail center in a rapidly growing area of the Knoxville MSA, known for its strong average household income ($94,215 within a 5-mile radius) and low vacancy rates (approximately 3%). Rent bumps are included in the lease agreements.
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
- Lenoir City
- County
- Loudon
- State
- Tennessee
- Longitude
- -84.265
- Latitude
- 35.8157
