804 Us-321Lenoir City, TN 37771

Property Details for 804 Us-321

Year built

1983

Lot size

0.78 AC

Property size (Sq ft)

7,058 SF

Property type

Retail properties

Property subtype

Lifestyle 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.

Location Insight

City

Lenoir City

County

Loudon

State

Tennessee

Latitude

35.8157

Longitude

-84.265

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