2634 Magnolia AveKnoxville, TN 37914

Property Details for 2634 Magnolia Ave

Year built

1950

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.42 AC

Property size (Sq ft)

9,984 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

082KB005

APU

082KB005

Description

This 2,250 square foot retail space is located at 2634 E Magnolia Ave, Knoxville, TN 37914, an end-cap unit on Magnolia Avenue near Cherry Street. The property boasts a rectangular layout, ideal for various retail uses. It includes one small bathroom and a small back office featuring a partially exposed steel ceiling. The space is zoned C-G-2, General Commercial, and is part of a larger 14,882 square foot building with the possibility of additional space becoming available. The property benefits from its proximity to the new baseball stadium and the associated ongoing development, contributing to a high level of foot traffic. The average annual daily traffic count (AADT) in 2022 was 11,626. Utilities are a mix of shared and tenant-responsible: water is split between three spaces, while electricity is in the tenant's name and serviced by KUB. The lease is a NNN lease with a current asking rent of $1.06 per square foot. All information provided is believed to be accurate but is not guaranteed

• CAP approach

  CAP return

  Valuation

  6%

  $3,754,724

  6.5%

  $3,465,899

  7%

  $3,218,335

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,071,396

  Geo Method

  $2,071,396

• Alternative Use

  Use

  Valuation

  Residential

  $2,923,616

  Hospitality

  $2,678,016

  Educational

  $2,228,078

  Medical

  $2,304,705

  Retail

  $3,465,899

Location Insight

City

Knoxville

County

Knox

State

Tennessee

Latitude

35.9876

Longitude

-83.8925

CBSA code

28940

CBSA name

KNOXVILLE, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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