2634 Magnolia AveKnoxville, TN 37914

  • Retail properties
  • 9,984 SF
For Lease
$12/SF/YR View listing

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
Retail properties
Property subtype
Strip malls
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

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
2634 Magnolia Ave, Knoxville, Tennessee

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$4,077
-
-
$109,920
-
$73,000
$201,800
$274,800

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