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5439 Washington PikeKnoxville, TN 37918

Thriving Retail Center, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 166,035 square foot shopping center in Knoxville, Tennessee, boasts a prime location at 5439 Washington Pike, zip code 37918. Built in 2007, the center currently enjoys 97% occupancy with a strong mix of national retailers including Dollar Tree, Marshalls, Ulta, Five Below, Ross Dress for Less, and Old Navy. Ten of the sixteen tenants have occupied the center for at least a decade, many with below-market rents, indicating significant upside potential. Recent lease signings with Ulta and Five Below underscore the continued demand for this location. The center benefits from a large trade area, with 52% of shoppers residing over five miles away, and serves as a primary retail hub for East Knoxville, as many tenants lack nearby alternatives. Knoxville's robust residential growth, particularly in Knox County (the second fastest-growing county in Tennessee), further strengthens the center's position. Its proximity to I-640 (63,776 vehicles per day) ensures excellent accessibility. The impending completion of a nearby Amazon distribution center promises additional job creation and increased foot traffic. Furthermore, the property includes two developable ground lease pads, offering substantial value-add opportunities and potential for increased income. This investment presents a compelling opportunity in a rapidly expanding market.

Highlights

  • 166,035 SF shopping center in Knoxville, TN (37918), 97% occupied, with strong national tenants including Dollar Tree, Marshalls, Ulta, Five Below, Ross Dress for Less, and Old Navy.
  • Recent lease signings with Ulta and Five Below demonstrate strong retailer demand.
  • Knoxville and Knox County (2nd fastest-growing in TN) show robust residential growth, boosting retail demand.
  • Center serves as a primary retail hub for East Knoxville, with 52% of shoppers residing over five miles away.
  • Excellent accessibility via proximity to I-640 (63,776 VPD).
  • Nearby Amazon distribution center will create 200+ jobs and increase foot traffic.

Property Details for 5439 Washington Pike

Property type
Lifestyle centers, Power centers
Square Feet
166,035 SF
Year Built
2007

Location Insight

City
Knoxville
County
Knox
State
Tennessee
Latitude
36.037149448314
Longitude
-83.886814644825
5439 Washington Pike, Knoxville, Tennessee

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5439 Washington Pike
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