Listed by Matthews
$2,288,847
The Shops at Sevierville II (Leasehold Interest)
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 13,790
Cap Rate 8.5%
NOI $194,552
Occupancy 100%
Tenancy Multi
Lease Type NNN
Remaining Term 4
Price per SqFt $166
Year Built 2005
Buildings 2
Investment Type Net Lease
Ground Lease No
Fully Leased NNN Strip Center – Prime Outparcel to Food City in Sevierville
Marketing description
Fully leased 13,790 SF strip center located on Dolly Parton Parkway in Sevierville, TN. This offering represents a leasehold interest and features NNN leases.
The property includes a diverse five-tenant mix, highlighted by a standalone AutoZone with a new 10-year lease extension. Additionally, the asset benefits from approximately 30 years remaining on the ground lease.
Strategically positioned as an outparcel to a top performing Food City, the center offers excellent visibility and strong traffic exposure along one of the area’s primary retail corridors. The property is also located just minutes from Dollywood, one of the region’s top tourist destinations, driving consistent traffic to the surrounding area.
Investment highlights
- 100% Leased | NNN Structure – Fully leased asset featuring NNN leases with minimal landlord responsibilities; all operating expenses (taxes, insurance & CAM) are reimbursed by the tenant.
- Prime Outparcel to Food City – Strategically positioned as an outparcel to a top-performing grocery anchor, driving consistent foot traffic and long-term location viability.
- High Traffic Exposure – Located along Dolly Parton Parkway with over 40,000 vehicles per day, offering excellent visibility and accessibility.
- Top-Tier Retail Synergy – The adjacent Food City ranks in the 100th percentile statewide and nationally, while nearby AutoZone ranks in the 95th percentile in Tennessee and 96th percentile nationally (per Alpha Maps), highlighting the strength of the immediate retail corridor.
- Dominant Retail Corridor in Sevierville – Positioned within a prime commercial corridor serving the surrounding trade area, benefiting from strong local and tourist-driven traffic.
- Inflation-Resistant Investment – The NNN structure helps hedge against rising costs, preserving NOI and investor returns over time.
- Generational Hold Opportunity – Nearly three decades of remaining ground lease term offer a rare opportunity for long-term, passive income with minimal near-term risk.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$194,552.00
$16,212.67/mo
Valuation Metrics
0
DSCR
8.5%
Cap Rate
8.5%
ROI
Map
Zoning
AC CommercialSpecial CommercialArterial Commercial
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View all 97 uses Last updated May 20, 2026 For deeper zoning details, reports are available at Zoneomics
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