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Classic Auction - Retail

Tellico Plaza

785 Highway 321 North, Lenoir City, TN 37771

  • Asset Type
  • Real Estate
  • Property Type
  • Retail
  • Land Area
  • 16.48 Acres
  • Year Built
  • 1989
  • Number of Floors
  • 1
  • Number of Buildings
  • 1
  • Parking Count
  • 584
  • Occupancy
  • 93.31%
  • Occupancy as of
  • Mar 18, 2020
  • Retail Type
  • Grocery Anchored Center
  • Anchor
  • Yes
  • Anchor Tenant(s)
  • Dollar General Marketplace, Tractor Supply, AutoZone, Goodwill
  • Property Size
  • 121,195 Sq Ft

Tellico Plaza | Lenoir City, TN | 121,000 SF | Grocery Anchored Community Center

Investment Highlights

  • The Dollar General Marketplace Grocery Store Provides Stability To The Center And Encourages Multiple Weekly Trips From Local Customers
  • Tellico Plaza’s Four Junior Box Anchor Tenants Offer Diversity And Strength To The Income Stream.  Each Of The Tenants Are Unique And Provide Quality Cross-Shopping Opportunities
  • The Property’s Vacant Space Provides A Value-Add Leased Opportunity And The Two Outparcels Can Be Developed With Future Retailers Or Be Sold
  • Lenoir City Is A Surban Market Within The High-Growth MSA of Knoxville, TN–The Combined Statistical Population For The Knoxville–Morristown–Sevierville Region Now Boasts A Population Of Over 1.1 Million Residents
  • The Property Faces US Hwy 321 And Has The Benefit Of Over 25,000 Average Daily Vehicles And Clear Signage Which Can Be Seen Well By Both North and South-Bound Drivers
  • Tellico Plaza Is Expected To Sell At A Price Per Foot That Is Well Below Replacement Cost, Providing The Future Owner Leasing Advantages Toward Tenant Retention

 

Offering Details

Colliers International Nashville, in conjunction with RealINSIGHT Marketplace, is pleased to present for sale Tellico Plaza, located in Lenoir City, TN. This 121,000 SF community center is anchored by a Dollar General Marketplace grocery store, Tractor Supply Co, Goodwill, and Auto Zone. The Property is situated along US Hwy 321 in the area’s regional retail corridor and densest population of the city. The value-add investment opportunity has vacant space available as well as two undeveloped outparcels. Located within the high-growth Knoxville MSA, the property is prime for redevelopment and will continue to take advantage of the market’s high occupancy percentage and lack of comparable retail properties.

Property tours are available by request.  Please contact the Colliers team to schedule a tour.

 

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Sold Subject To

Platform Fee

Platform fee for this transaction is 5.00% or a minimum of $25,000.

Need Help?

Have questions about Marketplace? You can reach us at 800.915.7015 or info@rimarketplace.com.

Auctioneer

  • John Roebuck

    c/o Fisher Auction Company Inc.

    License: 1702 TN Broker No. 00022430