418 South Gay St Knoxville, TN 37902

7,136 SF

Individually Owned

Property ID

US80-0187665

Contact for pricing 2,700 SF available

418 South Gay St, Knoxville, TN 37902
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This exceptional investment opportunity presents the entire second floor of the Phoenix Building, a fully leased commercial property in the heart of downtown Knoxville, TN. Located on a bustling block of Gay Street, this 7,136 square foot space is currently configured as two commercial suites and a large common area, offering a compelling blend of old-world charm and modern amenities. The property boasts beautiful hardwood floors, high ceilings, abundant natural light from large vertical windows, and a versatile layout including private offices and open creative areas. Shared amenities include restrooms and a large conference room. Convenient monthly parking is available in a nearby lot, accessible via a rear building entrance. The DK-H zoning allows for future redevelopment possibilities, such as conversion to residential lofts. The building shares its address with several established businesses, creating a vibrant and thriving community. The asking price is $1,899,000, translating to $266.12 per square foot. The property's APN is 095IA035. Floors three through five are residential condominiums. This is a NNN lease with multiple tenants. This property offers a unique chance to acquire a well-situated, income-generating asset with significant upside potential.