Value-Add Multi-Tenant Industrial Listing Details & Market Data

The subject property is centrally located in Knoxville Tennessee near the intersection of I-640 and Broadway.NAI is pleased to present the opportunity to acquire a +/- 117,200 square foot multi-tenant industrial building for less than $37 per square foot. The building is located on 4.359 acres of land zoned Mixed-Use Industrial. The site has excellent visibility from I-640 with an average daily traffic count of 89,826. A large portion of the building is being used as self-storage. Other tenants include a furniture warehouse, sports training, and a gym. The blended occupied rental rate is only $2.87/SF. CoStar has the market rental rate per area at $8.33/SF. This gives an investor a great opportunity to significantly increase its rate of return. Note – This is an equitable interest sale offering. Also, a portion of the property lies in a flood zone per FEMA Flood Map (47093C0143G effective date August 05, 2013).