3100 Mall RdKnoxville, TN 37917
- Retail properties
- 142,092 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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].