1024 Alcoa Mkt St, Maryville, TN 37801

Property Details for 1024 Alcoa Mkt St

Year built

2023

Lot size

1.04 lot acres

Property type

Retail properties & Spaces

Property subtype

Retail space

Description

This exceptional investment opportunity presents a brand-new, 3,000 square foot Sleep Number storefront in Maryville, Tennessee. Located at 1024 Alcoa Market Street, this Class A retail property boasts a 10-year net lease (NN+) with a corporate guarantee from Sleep Number, commencing October 26, 2023, and expiring October 31, 2033. The lease includes two 5-year renewal options and features a 10% rent increase every five years, ensuring consistent income growth. The property sits on a 1.04-acre lot and is part of a larger development including new residential and retail spaces, enhancing its visibility and value. Situated at a signalized intersection on Alcoa Highway, the property benefits from high traffic volume exceeding 46,000 vehicles per day. Its prime location is adjacent to Hunters Crossing Shopping Center, anchored by major retailers like Walmart, Lowe's, and Target, ensuring high foot traffic and strong consumer demographics. Maryville, a thriving suburb of Knoxville, offers an affluent population with an average household income nearing $85,000. The property's current Net Operating Income (NOI) is $132,000, resulting in a 6.25% cap rate. The asking price is $2,112,000, translating to $704 per square foot. The landlord's responsibilities are limited to roof and structural maintenance, with the tenant responsible for all other expenses, including taxes, insurance, and common area maintenance (CAM). This is a rare opportunity to acquire a high-performing, low-maintenance investment property with significant long-term growth potential.

Location Insight

City

Maryville

County

Blount

State

Tennessee

Longitude

-83.9895

Latitude

35.7635