Inn of Knoxville 1500 N Cherry St 185 Unit Apartment Building $11,079,280 CAD ($59,888 CAD/Unit) Knoxville, TN 37917

Offered Price: $8,000,000 As Is /$15,000,000 Completed
Rooms: 186
Exterior Corridor
Lot Size: 3.89 acres
3 Stories
Inn of Knoxville in Knoxville, Tennessee is strategically located right off Interstate I-40, providing excellent connectivity to major regional and interstate routes. The property is located approximately 3 miles from Downtown Knoxville, providing convenient access to the city’s business, cultural, and entertainment districts. Inn of Knoxville is located in the city center and near a metro station, just minutes from the University of Tennessee campus, which is approximately 3.5 miles away, and about 3 miles from the Knoxville Convention Center. Notable nearby attractions include The Muse Knoxville (0.9 miles), Caswell Park (1.0 mile), and Knoxville Botanical Garden (1.2 miles), all within walking distance. Mabry Hazen House (1.5 miles), Old City (2.0 miles), and Zoo Knoxville (4 miles) are also in close proximity, along with the Knoxville Museum of Art at 5 miles. Historic Southern Railway Station and Bijou Theater, both prominent landmarks, are easily accessible from the property. For healthcare services, the University of Tennessee Medical Center is situated about 6 miles away. The nearest airport is McGhee Tyson Airport, located approximately 16 miles south, providing convenient regional and national flight access. With its prime interstate location, central positioning, and proximity to key institutional, cultural, and recreational destinations, the property presents a strong investment opportunity supported by Knoxville’s continued growth and demand drivers.
Location Highlights:
1. Interstate Access – Conveniently located right off Interstate I-40, providing direct connectivity throughout Knoxville and to regional destinations.
2. Proximity to Downtown – Approximately 3 miles from Downtown Knoxville, offering access to the city’s central business, cultural, and entertainment districts.
3. University & Convention Center – Just minutes from the University of Tennessee campus and a 5-minute drive to the Knoxville Convention Center.
4. Nearby Landmarks – Within walking distance to The Muse Knoxville (0.9 mi), Caswell Park (1.0 mi), and Knoxville Botanical Garden (1.2 mi), with Mabry Hazen House (1.5 mi) and Old City (2.0 mi) close by.
5. Cultural & Recreational Attractions – About 4 miles to Zoo Knoxville, 5 miles to the Knoxville Museum of Art, and near historic sites such as the Southern Railway Station and Bijou Theater.
6. Healthcare Access – Approximately 6 miles from the University of Tennessee Medical Center.
7. Airport Access – McGhee Tyson Airport is located 16 miles south, providing regional and national connectivity.
Knoxville, Tennessee is experiencing a strong wave of developments that are well-positioned to drive sales for local businesses. The growth is concentrated in key areas: large-scale urban projects, new commercial and retail developments, and ongoing industrial growth. Here's a breakdown of some of the upcoming developments that could drive sales:
Publicly-Owned Sports and Entertainment Stadium: This is arguably the most significant development on the horizon for driving sales. The new multi-use stadium is designed to host a variety of events, including professional baseball, soccer, concerts, and community gatherings. The steady flow of attendees for these events will drive sales for nearby restaurants, bars, retail stores, and service businesses, especially in the downtown area.
Downtown Urban Renewal: The city has multiple initiatives to revitalize and improve its downtown area, which will make it a more attractive destination for residents and visitors. This includes projects like the "SMART2 Network," which is focused on improving pedestrian and bike connectivity, and the redevelopment of historic buildings into new residential and commercial spaces. A more walkable, vibrant downtown encourages people to stay longer and spend more money at local businesses.
Residential and Commercial Real Estate: The Knoxville area is seeing continued growth in both commercial and residential real estate. New construction homes and apartment complexes are being built in and around the city, bringing an influx of new residents. This population growth directly creates new customers for retail, services, and other businesses. The city is also working to attract new businesses to revitalize neighborhoods and other commercial districts.
Transportation and Infrastructure: The city is investing in major infrastructure improvements, such as sidewalk and road projects. While not directly a commercial development, these projects improve accessibility and traffic flow, making it easier for people to get to local businesses and encouraging more pedestrian activity.
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