Property Details
Tire Discounters - Knoxville, Tennessee
Sales Price: $3,250,000
Cap Rate: 5.75%
Guarantor: Corporate
Term Remaining: 15 years
Rate Increases: 5% x 5 years
Almost a year-long assignment due to COVID-related delays, our clients ultimately satisfied their 1031 exchange from the sale of their Oakland apartment building with the acquisition of two (2) net lease assets. This allowed for geographic diversification across two (2) of the most popular industry profiles: food and auto. Furthermore, our clients avoided the fluctuation in their apartment rent roll brought on by COVID by securing a steady and reliable income stream that doesn’t require active hands-on management.
"It’s a testament to the professionalism on both of the Colliers teams we worked with that despite the craziness of 2020 and all the ups and downs, this has been a positive experience for us." - Chris
- Property TypeRetail
- Submarket
- Total Acres0.19
- Last updatedJul 11, 2023
- Property ID2181200