For Sale
$500,000

1819 Ailor AveKnoxville, TN 37921

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

Overview

Added:
Dec 11, 2024
Days on market:
114
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
1819 Ailor Ave, Knoxville, Tennessee

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1819 Ailor Ave
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