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11671 Parkside Drive, Knoxville, TN 37922

Commercial property for sale

  • Description
  • AT&T corporate credit. Initial ten year lease commenced 10/31/2008 and has a 10% rent increase beginning in year 6. Tenant has option to extend for two additional 5 year terms. The 4760 sq. ft. free standing building, built in 2008, is located at a signalized intersection in the Turkey Creek Retail Development. Underlying ground lease includes seven 5 year options. If all are exercised, current ground lease extends through January 31, 2053. Cash on Cash return of 8.4% using existing debt. Turkey Creek is the largest single commercial development ever built in the metropolitan area of Knoxville, TN. Designed for mixed use and beautifully landscaped, Turkey Creek boasts more than 300 acres of space zoned for retail shopping outlets, medical facilities, theaters, office space, banks, restaurants and hotels. The developers of Turkey Creek also created a 58 acre nature preserve and designed greenways throughout the site. Only 3 miles from the junction of Interstate 75 and 40 to the west and 14 miles from downtown Knoxville makes the site a quick drive from the urban center, suburban Knoxville, and rural counties. Building price details: $1,400,000.
  • Property Details
  • Building Name: AT&T Building
    Property Type: Retail
    Use Types: Free-Standing Building
    Status: Available
    Price: $ 294 +/SF
    Number of Stories: 1
    Year Built: 2008
    MSA: Knoxville
    Zoning: Commercial
    Buildings: 1
    Tenancy: Single Tenant
    Terms: Cash to Seller
    Added: 01/06/2012
    Last Update: 04/05/2012
  • Exterior Features
  • Parking Type: Surface
  • Contact info
  • 865-342-8729 [Office]
  • Note

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