2651 Magnolia Ave Knoxville, TN 37914-5340
Property profile & analytics
2651 Magnolia Ave Knoxville, TN 37914-5340
- Casinos
- 7,954 SF
- 1.21 lot acres
Property ID
US80-0176958
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- …… / Construction Company / General Contractor
Property Details for 2651 Magnolia Ave
- Year built
- 1952
- Construction
- WOOD FRAME
- Lot size
- 1.21 lot acres
- Property size
- 7,954 SF
- Property type
- Casinos
- APN
- 082KA016
- APU
- 082KA016
Description
This stunning, National Register-eligible property, located at 2651 E Magnolia Ave in Knoxville, TN, presents a unique investment opportunity. Boasting 13,200 total square feet, including 9,500 square feet of net rentable space, this Class B office building offers a compelling 6.5% cap rate at an asking price of $1,350,000 ($173.68/sq ft). Built in 1930 and extensively renovated in 2018, the property features two buildings situated on a 0.73-acre lot with ample parking for 65 vehicles. The property is zoned C-G-2 and benefits from its prime location, offering high visibility and traffic volume at the corner of Cherry and Magnolia. Recent improvements include a completely replaced roof on the main building, a thorough interior cleaning, and the replacement of all windows (expected completion May 1st). Its proximity to the new Smokies Baseball Stadium (projected completion Spring 2025) further enhances its appeal. The property's eligibility for the National Register of Historic Places and its location within an Opportunity Zone present significant potential for accessing federal and local grants. This versatile property is ideally suited for a variety of uses, including a restaurant or catering company. Buyer to verify all square footage information.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,080,000
-
Alternative Use
- Use
- Estimation
- CASINO
- $1,180,000 Current use
- MEDICAL BUILDING
- $1,610,000 Change: +37% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $1,530,000 Change: +30% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $1,270,000 Change: +8% Conversion: Difficult
- RETAIL STORES
- $1,060,000 Change: -10% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Knoxville
- County
- Knox
- State
- Tennessee
- Longitude
- -83.8934
- Latitude
- 35.9879
- CBSA code
- 28940
- CBSA name
- KNOXVILLE, TN METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$9,535
$0.00
$0.00
$257,040
-
$216,600
$426,000
$642,600
