313 Broadway StKnoxville, TN 37917

Property Details for 313 Broadway St

Year built

1940

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.08 AC

Property size (Sq ft)

2,100 SF

Property type

Retail space

APN

094EL006

APU

094EL006

Description

This 1,800 sq ft convenience store, located at 313 N Broadway in Knoxville, TN, presents a unique investment opportunity. Situated on a prime corner lot in a rapidly developing area of downtown Knoxville, this property offers exceptional visibility and accessibility. Built in 1940, the single-story building features a new TPO roof, HVAC system, and a state-of-the-art security system with cameras. The existing convenience store layout includes a new hood and walk-in cooler, presenting potential for a commercial kitchen expansion. Ample parking is available on-site, with a fenced yard and adjacent paved lot. The property is zoned DK-E and includes APN numbers 094EL006 and 094EL007. Its proximity to the Tennessee Smokies stadium, Gay Street, and Market Square makes it an ideal location to capitalize on the thriving downtown Knoxville market. The asking price is $1,200,000, translating to $666.67 per square foot. This owner/user opportunity allows for immediate income generation and future development potential, contributing to the ongoing revitalization of the neighborhood. The property's strong features and strategic location make it a compelling investment for those seeking a foothold in the dynamic Knoxville market.

• CAP approach

  CAP return

  Valuation

  6%

  $789,756

  6.5%

  $729,005

  7%

  $676,933

• Comparable approach

  Method

  Valuation

  Relative Method

  $435,690

  Geo Method

  $435,690

• Alternative Use

  Use

  Valuation

  Residential

  $614,943

  Hospitality

  $563,285

  Educational

  $468,646

  Medical

  $484,764

  Retail

  $729,005

Location Insight

City

Knoxville

County

Knox

State

Tennessee

Latitude

35.9699

Longitude

-83.9243

CBSA code

28940

CBSA name

KNOXVILLE, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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