Knoxville, Tennessee is a prime location for investing in Shopping Centers, with 2 available listings offering a range of opportunities for entrepreneurs and investors. As a hub for Appalachian culture and a gateway to the Great Smoky Mountains National Park, Knoxville attracts tourists and locals alike, making it an ideal spot for shopping centers. With its rich history, dating back to 1786, Knoxville has experienced economic growth and revitalization, hosting the 1982 World's Fair, which brought significant infrastructure development and investment to the area. Today, the city boasts a diverse economy, with major sectors including real estate, finance, manufacturing, retail, and technology/research, making it an attractive location for shopping centers. Knoxville's amenities, such as the University of Tennessee's Neyland Stadium and Thompson–Boling Arena, as well as its scenic beauty, with the Tennessee River running through the city, create a unique and appealing environment for businesses and residents. With its strong infrastructure, including the Knoxville Utilities Board (KUB) and Knoxville Area Transit (KAT), Knoxville provides an ideal setting for shopping centers to thrive.
Knoxville's shopping centers offer a range of opportunities for investors, from small strip centers to large retail complexes. With an average price per square foot of $318 USD and an average size of 17,347 square feet, these properties present a compelling investment opportunity. The city's largest shopping center, with 17,930 square feet, offers a significant presence in the market. In addition to shopping centers, Knoxville also offers a range of other property types, including Restaurants, with their unique blend of Southern cuisine and Appalachian charm; Specialty Properties, such as the historic Tennessee Theatre; Land, with its rolling hills and scenic vistas; and Office Properties, with their modern amenities and convenient locations. With its diverse economy, rich history, and natural beauty, Knoxville is an attractive location for investors seeking to diversify their portfolios. The city's shopping centers, in particular, offer a unique opportunity to tap into the local market, with its strong demand for retail space and amenities.
What is the average cap rate for shopping centers in Knoxville?
Currently, there are 2 shopping centers for sale in Knoxville, with an average cap rate of 7%, making them an attractive investment opportunity for those looking to capitalize on the city's strong retail sector.
