408 N Cedar Bluff Rd - Office FOR SALE


Knoxville, TN 37923- Westside
$11,000,000 USD
678-808-2804
408 N Cedar Bluff Rd, Knoxville, TN for Sale
$11,000,000 USD
Office - FOR SALE
1/5
null | 8.28% Cap Rate

408 N Cedar Bluff Rd
Knoxville, TN 37923
Westside


HIGHLIGHTS

  • Prime Investment Opportunity in Knoxville, TN | Fully Stabilized Office Asset
  • 100% Occupied with Diverse Tenancy in Premium Sectors: Tech, Legal, Logistics | Major Tenants Include EPA-GSA, Walden Security, TLD Logistics, & More
  • Staggered Lease Rollover WALT of +/- 1.8 Years | Gross/MG Leases, Majority with Annual Escalations | Value-Add Opportunity by Converting Leases to NNN
  • $650,000+ into Recent Interior/ Exterior CapEx Improvements | Firestone Roof Installed in 2016 | 6 Years Left on Warranty
  • Located Just Off I-40 in a Dense Retail Corridor | Less than 1 Mile from the Parkwest Medical Center (305+ Beds)
  • Proximity to Three Major Universities Including The University of Tennessee (38,500+ Students) | No Income Tax State

OVERVIEW

The AP Group of Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the Cedar Ridge office building located at 408 N Cedar Bluff Road, Knoxville, Tennessee. Situated on a total of 4.91 acres in the thriving Knoxville MSA, the fully stabilized office asset features a diverse tenant mix on gross/modified gross leases, majority with annual escalations. Currently 100% occupied with staggered lease rollover, Cedar Ridge offers prime value-add opportunity by converting leases to NNN and raising below market rents. The subject property is ideally situated in a dense commercial corridor off Interstate-40, a major thoroughfare in the Southeast, and is in close proximity to downtown Knoxville. The Knoxville market is centered in the eastern portion of Tennessee and is the state’s third-largest metro area, after Nashville and Memphis. Knoxville consists of nine counties: Anderson, Blount, Campbell, Grainger, Knox, Loudon, Morgan, Roane and Union. The local economy is supported by the University of Tennessee and year-round tourism from the Great Smoky Mountains. The city of Knoxville is the county seat of Knox County and is home to roughly 190,000 residents.

FOR SALE DETAILS

PRICE

$11,000,000 USD

PRICE/SF

$119 USD /SF

CAP RATE

8.28%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cedar Ridge

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

A

YEAR BUILT

1982

SPRINKLERS

-

PARKING SPACES

300

LAND DETAILS

LAND ACRES

4.91 AC

LAND SF

213,880 SF

ZONING

PC

APN/PARCEL ID

119-01902

ASK ABOUT THIS PROPERTY

Ani PaulsonMarcus & MillichapMore Info
678-808-2804

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Ani PaulsonMarcus & MillichapMore Info
678-808-2804

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