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Property profile & analytics
OFF-MARKET Estimated value $1,485,000
Turn key restaurants

5604 Merchants Ctr Blvd Knoxville, TN 37912-3479

5,025 SF 1.58 ac lot Built 1984
Entity Owned Free & Clear
Property ID
US80-0196259
Property summary
AI-generated overview

This exceptional restaurant opportunity is located at 5604 Merchants Center Blvd, Knoxville, TN 37912, directly off I-75. The property is a single-tenant, Class B storefront previously occupied by an IHOP restaurant. The space benefits from significant interstate signage, ensuring high visibility and accessibility for potential customers. The building offers a ready-made layout suitable for a variety of restaurant concepts, eliminating the need for extensive renovations. The property's location provides easy access for both local residents and travelers along I-75. The ground rent is $100,000 per year. While the previous tenant, IHOP, is vacating in 2025, this presents a unique chance to establish a thriving restaurant business in a high-traffic area with established brand recognition. The property's features and location make it an ideal investment for experienced restaurateurs seeking a turnkey operation or entrepreneurs looking to launch a new concept. The property's coordinates are 36.00961210895275 latitude and -83.97397788353014 longitude. This is a retail and restaurant space with excellent visibility and potential.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1984
Construction LIGHT FRAME
Total area 5,025 SF
Lot 1.58 ac (68,825 SF)
APN 068KC001
UPID US80-0196259
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
Current use
Occupant on record · Public records
  • IHOP Restaurant
  • Pardon My Cheesesteak Courier Service Postal Service
  • TenderFix by Noah Schnapp Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.72M
Blend (final) Blend
$1.49M
Owner & transaction history
Openspace LLC
Openspace LLC
since 2025
Last sale
$1.3M
3 recorded transactions
2025
$1.3M
2000
$1.4M
1998
$1.1M
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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