7209 Chapman HwyKnoxville, TN 37920

Property Details for 7209 Chapman Hwy

Year built

1970

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Property size (Sq ft)

27,000 SF

Property type

Casinos

APN

137 176

APU

137176

Description

This exceptional two-story, 26,760 square foot executive office building in Knoxville, Tennessee, presents a compelling investment opportunity. Located at 7209 Chapman Hwy, this Class B property boasts a main level of 13,380 square feet and sits on a 0.91-acre lot (APN 137 176). Currently, a portion of the building (5,480 square feet) is leased to Abundant Life Family Practice until December 31, 2024, generating $6,000 per month in net-net-net (NNN) rent. The remaining space, approximately 21,280 square feet, will be vacant on May 1, 2024, offering significant potential for owner-occupancy or further leasing. The building features a rubber roof, three-phase wiring, and ample parking. This property is priced below appraised value, providing a strong return on investment. The asking price is $2,850,000, translating to $110.24 per square foot. The building comprises eight units across two stories, constructed in 1970. A new owner can collect $29,500 NNN per month from closing until May 1st, in addition to the existing $6,000 monthly NNN lease until the end of the year. This is a gross lease, multi-tenant property.

• Alternative Use

  Use

  Valuation

  Residential

  $7,906,412

  Hospitality

  $7,242,230

  Educational

  $6,025,451

  Medical

  $6,232,676

  Retail

  $9,372,924

Location Insight

City

Knoxville

County

Knox

State

Tennessee

Latitude

35.9094

Longitude

-83.8513

CBSA code

28940

CBSA name

KNOXVILLE, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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