Current Use by Public Records
- Corinne Bell-Rummel, PHD / Physician / Medical Clinic
- DARKBAR Salon Suite / Hair Salon / Nail Salon
- Elysium Salon Suites / Hair Salon / Nail Salon
- Statewide Organizing for Community eMpowerment (SOCM) / Charitable Organization / Social Service Agency
- Appalachian Voices / Charitable Organization / Social Service Agency
Property Details for 2507 Mineral Springs Ave
- Lot size
- 0.95 lot acres
- Property type
- Office Spaces
- Property subtype
- Medical Office Space
Description
This 7,404 square foot Class B office building in Knoxville, Tennessee, presents a compelling investment opportunity. Located at 2507 Mineral Springs Ave, it boasts a 100% occupancy rate with three tenants, achieving a pro-forma NOI of $73,880 and a 7.66% cap rate. The asking price is $965,000, translating to $155.32 per square foot. The property features a modified lease structure with rent bumps included. Situated on a 0.95-acre lot zoned O-1, it offers ample parking (5.7 spaces per 1,000 sq ft). The building is a free-standing brick structure with recent updates and a good tenant mix. One suite, comprising 3700 square feet, has been occupied by the same tenant since 2010. The property enjoys convenient access to I-640, Broadway, and Fountain City. The occupancy date is May 1, 2024. The APN is 069EB042. This multi-tenant building is ideal for investors seeking a stable, high-performing asset in a desirable Knoxville location. The property is suitable for both creative and medical office uses.
Value Estimations
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AI approach
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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
- -83.9199
- Latitude
- 36.0159
