2604 E Magnolia Ave - Freestanding FOR SALE


Knoxville, TN 37914- Park City
$1,065,000 USD
423-682-8241
2604 E Magnolia Ave, Knoxville, TN for Sale
$1,065,000 USD
Freestanding - FOR SALE
1/11
null | 7.11% Cap Rate

2604 E Magnolia Ave
Knoxville, TN 37914
Park City


HIGHLIGHTS

  • Family Dollar renewed their final option on 7/1/2025 for 5 years with a 10% rent increase
  • Significant tenant improvements made to the building in 2024. Strong indication for future renewal options.
  • Brand new exterior lighting and solar panel parking lot lighting
  • Located on a hard corner along the highly trafficked East Magnolia Avenue corridor.
  • The building features ample frontage, flexible interior layout potential, and convenient on-site parking.
  • Brand new camera security system added in 2026. 8 cameras total with live feed capabilities. Ideal for owners to monitor property off site!

OVERVIEW

20-Year Tenant | Recent Renewal | Near Downtown Knoxville Tenant has been operating at this location since 2005 Dollar Tree corporate guaranteed lease Tenant renewed their first of three 5 year options on 7/1/2025 for with a 10% rent increase Tenant invested significantly into an interior revamp in 2024 which is a strong indication for future renewal options Roof and HVAC in great shape Brand new security cameras installed in 2026 (8 cameras with live feed). Ideal for remote LL to monitor the property. Brand new exterior lighting and solar panel parking lot lighting Located on a hard corner along the highly trafficked East Magnolia Avenue corridor. Situated just minutes from downtown Knoxville and easily accessible from I-40, this property benefits from strong visibility, steady vehicular traffic, and close proximity to a revitalizing commercial district. The building features ample frontage, flexible interior layout potential, and convenient on-site parking. Whether you're an investor seeking a stabilized asset with future value-add upside or an owner-user looking for a strategic location, this property delivers exceptional upside in one of Knoxville’s emerging submarkets.

FOR SALE DETAILS

PRICE

$1,065,000 USD

PRICE/SF

$107 USD /SF

CAP RATE

7.11%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1945

SPRINKLERS

-

PARKING SPACES

47

LAND DETAILS

LAND ACRES

0.91 AC

LAND SF

39,640 SF

ZONING

C-3

APN/PARCEL ID

082KB-002

ASK ABOUT THIS PROPERTY

John MarkleySVN | Second Story Real Estate ManagementMore Info
423-682-8241

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John MarkleySVN | Second Story Real Estate ManagementMore Info
423-682-8241

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.