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Property profile & analytics
OFF-MARKET Estimated value $605,000
Strip malls

2634 Magnolia Ave Knoxville, TN 37914-5315

9,984 SF 0.42 ac lot Built 1950
Entity Owned 23-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US80-3563267
Property summary
AI-generated overview

This 2,250 square foot retail space is located at 2634 E Magnolia Ave, Knoxville, TN 37914, an end-cap unit on Magnolia Avenue near Cherry Street. The property boasts a rectangular layout, ideal for various retail uses. It includes one small bathroom and a small back office featuring a partially exposed steel ceiling. The space is zoned C-G-2, General Commercial, and is part of a larger 14,882 square foot building with the possibility of additional space becoming available. The property benefits from its proximity to the new baseball stadium and the associated ongoing development, contributing to a high level of foot traffic. The average annual daily traffic count (AADT) in 2022 was 11,626. Utilities are a mix of shared and tenant-responsible: water is split between three spaces, while electricity is in the tenant's name and serviced by KUB. The lease is a NNN lease with a current asking rent of $1.06 per square foot. All information provided is believed to be accurate but is not guaranteed

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1950
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 9,984 SF
Lot 0.42 ac (18,375 SF)
APN 082KB005
UPID US80-3563267
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$604k
Blend (final) Blend
$605k
Owner & transaction history
Lakeridge Rentals LLC · 23 yrs held
Lakeridge Rentals LLC
since 2003
7 recorded transactions
2022
Price N/A
2018
Price N/A
2010
Price N/A
2003
$152,500
1995
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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