Office
Cedar Ridge Office Building | 100% Occupied
408 N Cedar Bluff Rd, Knoxville, TN 37923
Listing Price: $11,000,000
Investment Overview
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.
Cedar Ridge Office Building | 100% Occupied
Investment Highlights
- Prime Investment Opportunity in Knoxville, TN | Fully Stabilized Office Asset | 100% Occupied with Diverse Tenancy in Premium Sectors: Tech, Legal, Logistics
- Staggered Lease Rollover WALT of +/- 1.8 Years | Gross/MG Leases, Majority with Annual Escalations | Value-Add Opportunity by Converting Leases to NNN & Raising Below Market Rents
- Major Tenants Include EPA-GSA, Walden Security, TLD Logistics, & More | $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)
- Knoxville is #3 in the Nation for Low Cost of Doing Business | No Income Tax State | State of Tennessee Rated AAA by Moody's | Numerous Corporate Relocations & Expansions Underway
Exclusively Listed By
Broker of Record
Listing Price: $11,000,000
Investment Highlights
- Prime Investment Opportunity in Knoxville, TN | Fully Stabilized Office Asset | 100% Occupied with Diverse Tenancy in Premium Sectors: Tech, Legal, Logistics
- Staggered Lease Rollover WALT of +/- 1.8 Years | Gross/MG Leases, Majority with Annual Escalations | Value-Add Opportunity by Converting Leases to NNN & Raising Below Market Rents
- Major Tenants Include EPA-GSA, Walden Security, TLD Logistics, & More | $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)
- Knoxville is #3 in the Nation for Low Cost of Doing Business | No Income Tax State | State of Tennessee Rated AAA by Moody's | Numerous Corporate Relocations & Expansions Underway
Investment Overview
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.
Exclusively Listed By
Broker of Record
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