Kohl's

5312 Washington Pike, Knoxville, TN 37918

$9,117,000

Cap Rate 6.65%

Views: 105 DOM: 97 Updated: 11.11.24 Posted: 08.09.24 Status: Active

Summary

Price $9,117,000	Built/Renov 1997	Tenant Kohl's
Cap Rate 6.65%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 86,584	Lease Start 03-16-1998	#Units 1,174
Price/SF $105.30	Expiration 01-31-2033	Tenant Type Big Box Retail
NOI $606,300	R. Term 8.2	Ownership Fee Simple
Rent/SF $7.00	Increases 5.0%/5/yrs	Pop 5Mi 110,650
Lot/AC 32.66	Options 4/5yrs/5%	AHHI 5Mi $62,500

Lease Highlights

Kohl’s has been operating in this location since 1998
The tenant has 8+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 5% rental increases throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Kohl's is strategically located on Washington Pike, with access to 72,948 vehicles passing by daily. The property sits on a 32.655-acre parcel, featuring over 500 parking spots and a cell tower that generates $29,504 annually with 3% annual increases. Additionally, a Sephora store will soon be opening on-site. The immediate area is surrounded by well-known national tenants, including Target,...

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Key Features

Oversized lot
In location for years
Near major nationals
Freeway close
Dense 100M+ pop 5 mi
Top 100 MSA
Income tax free state
Absolute NNN
Traded and rated company
Corporate Guarantee

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Links

Kohl's Wikipedia Kohl's Wikipedia Knoxville, Tennessee Zip Code 37918 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Kohl's
Guarantor:Corp T and Rated
Company:Kohl's Corporation
# Units:1,174
Tenant S&P: BB
Moody’s: Ba2
Stock: NYSE: KSS

About Tenant

Kohl's Corporation (Kohl’s) (NYSE: KSS) is an American department store retail chain that sells moderately-priced private and national brand apparel, footwear, accessories, beauty, and home...

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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	3,097	42,125	113,796
2024 Total Population :	3,041	41,210	110,048
2024 Employed Civilian Pop :	1,716	20,788	52,470
2024 Total Businesses :	175	1,349	3,608
2024 Average Household Income :	$ 69,524	$ 81,993	$ 75,905
2024 Total Consumer Spending :	$ 90 M	$ 1287 M	$ 3214 M
2024 Median Age :	39	41	40
2024 Total Households :	1,468	17,862	47,849
2024 Pop Age 25+: Bachelor's Degree :	435	6,740	15,483
2024 Average Home Value :	$ 284,965	$ 344,014	$ 336,371

*ESRI data is presented for informational purposes only

Listing Broker

Clifton McCrory

Sands Investment Group

Contact

37 Listings
2541 Views
4 Sold

Dan Hoogesteger

Sands Investment Group

Contact

24 Listings
1593 Views
3 Sold

Clifton McCrory

Sands Investment Group is a commercial real estate brokerage firm that specializes in the buying and selling of investment properties for private investors and institutions across the United States. Since its founding in 2010, SIG has closed over 4,100 plus transactions worth more than $8 Billion in 48 states. Advisors with the company currently have over $1.4 billion in active inventory. As a leader in the industry, SIG was first to offer true sub-product type specialization. The firm’s experi

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Dan Hoogesteger

Daniel S. Hoogesteger is the Managing Director of SIG’s West Coast headquarters in Santa Monica, CA. Prior to being a founding member of SIG, Daniel began his career in 2002 at Faris Lee Investments and has a tenured resume at firms including Marcus & Millichap & CB Richard Ellis. His resume includes representing many of the largest institutional, private capital & development companies in the acquisition & disposition of commercial real estate assets. Daniel leads SIG’s big

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Doug Roland

Sands Investment Group

Contact

16 Listings
1710 Views
2 Sold

Tom Gorman

Sands Investment Group

Contact

16 Listings
880 Views
1 Sold

Doug Roland

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Tom Gorman

I am a Managing Director with over 15 years of experience in real estate investing and advising. Excellent in leading high-performing brokerage teams, executing complex real estate transactions, and driving significant portfolio growth for clients. Skilled in strategic planning, market analysis, mentoring and coaching, and business development strategy. Knowledgeable in tax efficient commercial real estate investment strategies as well as effective acquisition and disposition of properties. Suc

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