For Sale
$2,112,000

1024 Alcoa Mkt StMaryville, TN 37801

Prime Maryville location, strong tenant, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a brand-new, 3,000 square foot Sleep Number storefront in Maryville, Tennessee. Located at 1024 Alcoa Market Street, this Class A retail property boasts a 10-year net lease (NN+) with a corporate guarantee from Sleep Number, commencing October 26, 2023, and expiring October 31, 2033. The lease includes two 5-year renewal options and features a 10% rent increase every five years, ensuring consistent income growth. The property sits on a 1.04-acre lot and is part of a larger development including new residential and retail spaces, enhancing its visibility and value. Situated at a signalized intersection on Alcoa Highway, the property benefits from high traffic volume exceeding 46,000 vehicles per day. Its prime location is adjacent to Hunters Crossing Shopping Center, anchored by major retailers like Walmart, Lowe's, and Target, ensuring high foot traffic and strong consumer demographics. Maryville, a thriving suburb of Knoxville, offers an affluent population with an average household income nearing $85,000. The property's current Net Operating Income (NOI) is $132,000, resulting in a 6.25% cap rate. The asking price is $2,112,000, translating to $704 per square foot. The landlord's responsibilities are limited to roof and structural maintenance, with the tenant responsible for all other expenses, including taxes, insurance, and common area maintenance (CAM). This is a rare opportunity to acquire a high-performing, low-maintenance investment property with significant long-term growth potential.

Highlights

  • Brand-new, 3,000 square foot Sleep Number store with a 10-year net lease (NN+) commencing October 26, 2023.
  • Located in a developing area of Maryville, TN, near new residential and retail construction including a 192-unit apartment building and new retail space.
  • High-traffic location at a signalized intersection on Alcoa Highway (47,000+ VPD), adjacent to Hunters Crossing Shopping Center (Walmart, Lowe's, Target).
  • Corporate guarantee from Sleep Number, a company with over $1.89 billion in 2023 revenue.
  • Located in an affluent Maryville, TN, a Knoxville suburb with an average household income near $85,000, and experiencing 2.25% annual population growth.
  • Lease includes 10% rent increases every five years, with two 5-year renewal options.

Property Details for 1024 Alcoa Mkt St

Property type
Retail properties, Retail space
Square Feet
3,000 SF
Class
A
Year Built
2023
Buildings
1
Lot Size (sq. ft)
45,302 SF
Units
1

Location Insight

City
Maryville
County
Blount
State
Tennessee
Latitude
35.763539248523
Longitude
-83.989501621727
1024 Alcoa Mkt St, Maryville, Tennessee

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1024 Alcoa Mkt St
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