Duluth Trading Co - Leasehold State - Knoxville, TN

Other Retail / Posted 3 months ago by Deborah Vannelli, Upland Real Estate Group, Inc. / 88 views

  • Price : $2,709,500
  • Cap Rate : 9.00%
  • Net Operating Income : $243,855
  • Tenant : Duluth Trading Co
  • Lease Type : NN
  • Lease Term Remaining (Years) : 14 Years
  • Land Area (SF) : 0
  • Land Area (Acres) : 1.73
  • Year Built : 2019

This Duluth Trading Company is located in a well-developed trade area with easy access from Interstate-75 where traffic counts average over 201,738 vehicles per day. There are excellent demographics in the surrounding area with a population of over 132,000 in 5-mile radius and an average household income over $101,000. Parkwest Medical Center, west Knoxville’s largest comprehensive medical center, is located just over 2 miles from the property. In 2019, Parkwest finished completion of the new Dogwood Tower, adding two patient floors and surgical suites and support space. Today, the center is 326,000 square feet and has 462 beds.

• This Duluth Trading opened in November 2019 and has a 15 year initial lease with three 5-year and one 10-year renewal options.
• Leasehold ownership which allows for 100% depreciation.
• This is a corporate lease with Duluth Holdings, Inc. which operates 65 stores across the United States. Year end 2019 revenues of $415 million and net worth of $176 million.
• Easy accessibility from Interstate-75 with over 201,738 vehicles per day.
• Excellent demographics in the surrounding area with a population over 132,000+ in a 5-mile radius and an average household income over $101,000.
• Located just over 2 miles from the Parkwest Medical Center which provides the community with 462 beds and employees 1,400+ people.
• In 2019, U.S. News ranked Knoxville, TN 46th on the list of Best Places to Live.

116 N Cedar Bluff RdKnoxville,Tennessee,37923

Deborah Vannelli
Upland Real Estate Group, Inc.

612-332-6600

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