675 Middle Creek RdSevierville, TN 37862

Property Details for 675 Middle Creek Rd

Year built

1987

Property size (Sq ft)

2,827 SF

Zone code

C-4

Property type

Medical offices

Property subtype

Medical centers

APN

078062 01401 001

APU

7806201401001

Description

This exceptional 14,135-square-foot medical office building in Sevierville, Tennessee presents a compelling investment opportunity. The property boasts 100% occupancy with two tenants: a regional and a national medical group. Both tenants are under long-term, triple-net (NNN) leases, ensuring minimal landlord responsibilities. The leases feature attractive 3% annual rent increases, providing predictable income growth. Summit Medical Group recently completed a $600,000 renovation to their space in 2023, and English Mountain Recovery is currently undergoing a $100,000 renovation. The building, constructed in 1985, benefits from a highly desirable location within a thriving medical corridor, situated across from LeConte Medical Center and adjacent to a VA Medical Center, the Sevier County Health Department, and the Burchfiel Medical Professional Building. The strong tenant base, coupled with the strategic location in a major tourist destination near the Great Smoky Mountains National Park and Dollywood, makes this a stable and potentially high-growth investment. The asking price is $3,375,000, representing a 7.25% cap rate. Summit Medical Group's lease is for 15 years, and English Mountain Recovery's lease is for 7 years. This property offers a rare combination of strong tenancy, predictable income, and significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $723,239

  6.5%

  $667,605

  7%

  $619,919

• Comparable approach

  Method

  Valuation

  Relative Method

  $232,747

  Geo Method

  $232,747

• Alternative Use

  Use

  Valuation

  Residential

  $827,831

  Hospitality

  $758,288

  Educational

  $630,887

  Medical

  $652,584

  Retail

  $981,380

Location Insight

City

Sevierville

County

Sevier

State

Tennessee

Latitude

35.8546

Longitude

-83.5409

CBSA code

42940

CBSA name

SEVIERVILLE, TN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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