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.