1616 Grand AveKnoxville, TN 37916

Property Details for 1616 Grand Ave

Year built

1977

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.34 AC

Property size (Sq ft)

20,020 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

094ND008

APU

094ND008

Description

This exceptional 20,372 square foot medical office building, located at 1616 Grand Avenue in Knoxville, Tennessee, presents a compelling investment opportunity. Situated in the desirable UT Campus area, this property boasts a strategic location with excellent visibility and accessibility. The asking price is $3,200,000, translating to a price per square foot of $157.08. The building's classification as a medical office ensures its suitability for a range of healthcare practices. Its substantial size offers ample space for expansion or multi-tenant occupancy. The property's address is 1616 Grand Ave, Knoxville, TN 37916. Its precise geographic coordinates are latitude 35.962366210313604 and longitude -83.93380183020481. This presents a rare chance to acquire a well-positioned medical office building in a thriving Knoxville neighborhood. The property's proximity to the University of Tennessee campus adds significant value, providing a large potential patient pool and a strong foundation for long-term growth and profitability. Serious inquiries are encouraged to explore this lucrative investment prospect further. Detailed financial information and property specifics are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $5,121,771

  6.5%

  $4,727,788

  7%

  $4,390,090

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,648,247

  Geo Method

  $1,648,247

• Alternative Use

  Use

  Valuation

  Residential

  $5,862,458

  Hospitality

  $5,369,980

  Educational

  $4,467,760

  Medical

  $4,621,414

  Retail

  $6,949,850

Location Insight

City

Knoxville

County

Knox

State

Tennessee

Latitude

35.9621

Longitude

-83.934

CBSA code

28940

CBSA name

KNOXVILLE, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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