5312 Washington Pike Knoxville, TN 37918-7001

This exceptional investment opportunity presents a 86,584 square foot Kohl's department store located at 5312 Washington Pike, Knoxville, Tennessee, 37918. The property sits on a substantial 32.6-acre lot and boasts over 500 parking spaces. The absolute NNN lease with Kohl's, a creditworthy corporate tenant, provides significant security and minimal landlord responsibilities. With a remaining lease term of approximately 8.2 years (expiring January 31, 2033), and a current annual net operating income (NOI) of $606,300, this offering presents a compelling 6.65% cap rate. The lease features 5% rent bumps every five years, ensuring consistent income growth. The lease commenced March 16, 1998, and was recently extended, demonstrating the tenant's long-term commitment to this location. The property's strategic location is approximately 15 minutes from the University of Tennessee and downtown Knoxville, serving a population exceeding 114,000 within a 5-mile radius. Further enhancing the investment potential, a cell tower on the property generates an additional $31,300 annually, with 3% annual increases. The property also benefits from strong co-tenancy, including Target, Marshalls, Ross Dress for Less, an Amazon Fulfillment Center, and other major retailers. A Sephora store is slated to open within the property, further strengthening its appeal. This is a rare opportunity to acquire a high-performing, net-leased retail asset with a strong tenant and significant upside potential. The asking price is $9,117,000, representing a price per square foot of $105.30.