The Broadway Shopping Center 5 Retail Properties Offered at $16,326,681 CAD in Knoxville, TN

Marcus & Millichap is pleased to present the opportunity to acquire a fee simple interest in The Broadway Shopping Center, a well-established grocery-anchored shopping center in Knoxville, TN. The property consists of +/- 114,000 square feet of retail space situated on a 11.85 Acre site in the heart of Knoxville, one of the fastest growing markets in the country.
The Broadway Shopping Center was originally constructed in 1956, making it one of Knoxville’s first established and extremely well know shopping centers in the area. Kroger shadow-anchors the center and shares 3 points of ingress/egress to the property, including a highly visible signalized entrance to Broadway Ave (22,270 VPD).
With 78% occupancy, this value-add opportunity is priced with current income allowing investors to capitalize on leasing upside. The property is well positioned within the city of Knoxville, only being 2.2 miles from Downtown and 2.6 miles from the University of Tennessee (38,000 enrolled students).
The property benefits from many new developments in the area. One being Covenant Health Park, a $127 Million multi-use stadium is home to The Knoxville Smokies and One Knox Soccer Club. Covenant Health Park located only 1.3 miles from The Broadway Center, and serving as a catalyst for continued mixed-use development that connects East Knoxville with the Old City and Downtown.
With prime access to downtown and the surrounding neighborhoods, high-traffic location, long-standing tenant base, strong grocery anchor, Broadway Shopping Center presents a premier investment opportunity with significant upside potential in a dynamic Knoxville retail market.