For Sale
$500,000

1819 Ailor Ave Knoxville, TN 37921

$500K, 3,300 SF, 6% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
136
This fee-simple medical office building in Knoxville, TN, offers a compelling investment opportunity. The property, built in 1985, encompasses 3,300 square feet on a 0.24-acre lot and is currently 100% occupied by Veterinary Innovative Partners under an absolute NNN lease with a corporate guarantee. The lease, commenced February 2, 2022, has a remaining term of 7.3 years, extending to February 27, 2032, with a single 5-year option featuring 2% annual rent bumps. The property generates a $30,000 annual net operating income (NOI), representing a 6.00% capitalization rate and a price per square foot of $151.52. Located at 1819 Ailor Ave, Knoxville, TN 37921, this asset benefits from its location near the University of Tennessee and the inherent resilience of the veterinary services market, projected for continued growth. The property's strong tenant, a leading player in pet healthcare, ensures stable income and potential appreciation. The absolute NNN lease structure minimizes landlord responsibilities, making this a low-maintenance investment. This offering presents a bite-sized price point with below-market rent, situated in a tax-free state.

Highlights

  • Attractive price point.
  • Below-market rent.
  • Triple-net lease; no landlord responsibilities.
  • Strong tenant financials.
  • Located in a tax-free state.
  • Near the University of Tennessee.

Property Details for 1819 Ailor Ave

Property type
Office properties, Medical offices
Square Feet
3,300 SF
Year Built
1985
Buildings
1
Lot Size (sq. ft)
10,454 SF

Location Insight

City
Knoxville
County
Knox
State
Tennessee
Latitude
35.96458704
Longitude
-83.93946842

FAQs

What type of property is this?
Office property - $500K, 3,300 SF, 6% Cap Rate
Where is the office property located?
The property is located at 1819 Ailor Ave Knoxville, TN.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Attractive price point.; Below-market rent.; Triple-net lease; no landlord responsibilities.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1819 Ailor Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message