1819 Ailor AveKnoxville, TN 37921

Property Details for 1819 Ailor Ave

Year built

1985

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.23 AC

Property size (Sq ft)

2,704 SF

Property type

Specialty properties

APN

094KV020

APU

094KV020

Description

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.

Location Insight

City

Knoxville

County

Knox

State

Tennessee

Latitude

35.9648

Longitude

-83.9395

CBSA code

28940

CBSA name

KNOXVILLE, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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