3100 Mall RdKnoxville, TN 37917

  • Retail properties
  • 142,092 SF
For Sale
$24,533,000 View listing

Property Details for 3100 Mall Rd

Year built
2002
Construction
LIGHT FRAME
Lot size
13.90 AC
Property size (Sq ft)
142,092 SF
Property type
Retail properties
Property subtype
Outlet malls
APN
059LG009
APU
059LG009

Description

This exceptional investment opportunity presents a 142,092 square foot, single-tenant shopping center in Knoxville, Tennessee, fully occupied by Lowe's. The property, located at 3100 S Mall Rd, Knoxville, TN 37917, boasts a strong 12.7-year remaining lease term with eight 5-year options, ensuring long-term stability. Built in 2002, this fee-simple asset sits on a 13.9-acre lot and is zoned C-Commercial/Big Box Store. The property benefits from high visibility and traffic counts (69,368 AADT) due to its location near I-640, Mall Road South, and Millertown Pike. The triple-net (NNN) lease structure shifts most operating expenses to the tenant, minimizing landlord responsibilities. With a current NOI of $1,349,266 and an asking price of $24,533,000, this presents a compelling 5.50% cap rate. The surrounding area demonstrates strong demographics, with over 41,018 residents within a 3-mile radius and an average household income exceeding $79,809. This Lowe's location is part of a larger retail development, further enhancing its appeal and drawing significant customer traffic. The property's financial performance, coupled with the long-term lease and prime location, makes it an attractive investment for discerning buyers. The property's APN is 059LG-009.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $53,437,120
    6.5%
    $49,326,572
    7%
    $45,803,248
  • Comparable approach

    Method
    Valuation
    Relative Method
    $29,480,054
    Geo Method
    $29,480,054
  • Alternative Use

    Use
    Valuation
    Residential
    $41,608,808
    Hospitality
    $38,113,448
    Educational
    $31,709,940
    Medical
    $32,800,494
    Retail
    $49,326,572
3100 Mall Rd, Knoxville, Tennessee

Location Insight

City
Knoxville
County
Knox
State
Tennessee
Latitude
36.0278
Longitude
-83.8761
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
$165,923
-
-
$4,472,800
-
$3,363,800
$7,818,200
$11,182,000

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].