2815 Broadway StKnoxville, TN 37917

Property Details for 2815 Broadway St

Year built

1976

Construction

CONCRETE

Lot size

0.32 AC

Property size (Sq ft)

2,652 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

081DB018

APU

081DB018

Description

This exceptional investment opportunity presents a single-tenant, absolute NNN leased Quick Service Restaurant (QSR) located at 2815 N Broadway, Knoxville, Tennessee 37917. The property, featuring The Krystal Company as the tenant, boasts a 2,652 square foot building on a 1.12-acre lot, situated in a high-traffic area with approximately 30,000 cars daily. The building, constructed in 1976 and renovated in 2019, includes a drive-thru and is zoned C-G-2. The current lease, commenced March 1, 2019, has a remaining term of 9.3 years, expiring March 14, 2034, with 6 x 5-year lease options. The lease is an absolute NNN (Triple Net) lease with a franchisee tenant and includes 1% annual rent bumps. The property offers a 5.80% cap rate and a strong Net Operating Income (NOI) of $92,727. This represents a compelling investment opportunity in a thriving Knoxville market, offering long-term stability and attractive returns for investors seeking established assets. The property's location on a signalized corner further enhances its visibility and accessibility. The property's parcel numbers are 081DB018 and 081DB017.

• CAP approach

  CAP return

  Valuation

  6%

  $997,348

  6.5%

  $920,629

  7%

  $854,870

• Comparable approach

  Method

  Valuation

  Relative Method

  $550,215

  Geo Method

  $550,215

• Alternative Use

  Use

  Valuation

  Residential

  $776,585

  Hospitality

  $711,348

  Educational

  $591,833

  Medical

  $612,187

  Retail

  $920,629

Location Insight

City

Knoxville

County

Knox

State

Tennessee

Latitude

35.9973

Longitude

-83.9245

CBSA code

28940

CBSA name

KNOXVILLE, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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