Former Ruby Tuesday - Lenoir City, TN
Knoxville MSA | TN's Fastest Growing County | Signalized Intersection
Marketing description
This prime retail investment opportunity is located in the fastest-growing corridor in Lenoir City, Tennessee, positioned within the #2 fastest-growing county in Tennessee. The property benefits from exceptional population growth and proximity to Knoxville, with easy access to major economic and social drivers including the University of Tennessee, West Town Mall, Turkey Creek Shopping Center, and Downtown Knoxville. The area has experienced 22.8% population growth since 2014 with a 2.6% annual growth rate and median household income of approximately $84,185.
The property features an existing 4,255 SF building on an oversized 1.13-acre parcel along Highway 321, the most sought-after retail corridor in Lenoir City. This location offers tremendous opportunity for investors to increase value significantly through renovation and lease-up. The area is experiencing unprecedented consumer demand driving nearby retail and multifamily developments, with over 2,000 new multifamily units within a 5-mile radius and proximity to a $40M Lakeshore Mixed-Use project.
Investment highlights
- Prime Destination for Relocation within U.S. | #2 Fastest Growing County in TN
- Exponential Pop. Growth + Proximity to Knoxville – located minutes from Knoxville city limits with easy access to the primary social + economic drivers: University of Tennessee, West Town Mall (#1 visited mall in TN), Turkey Creek Shopping Center, Watts Bar Lake, Little Tennessee River, Downtown Knoxville, etc.
- Population Growth: 22.8% (since 2014)
- Annual Growth Rate: 2.6%
- Median Household Income: $84,185 (approx.)
- Bite-Sized $1.3M | Attractive Land Basis – Investors have ability to increase value significantly through renovation and lease up.
- Highly-Desired Corridor | Consumer Demand Driving Nearby Developments – located within the most sought-after retail corridor (Hwy 321) in Lenoir City, where interest from national retailers remains unbelievably consistent & vacancy rates are at a minimum.
- Nearby Retail Projects – minutes from one of East TN's largest proposed retail developments with grocery-anchored shopping centers + outparcels to be delivered over the next few years.
- Nearby Multifamily + Residential Projects – over 2,000 units of new multifamily within a 5-mile radius – close in proximity to $40M Lakeshore Mixed-Use project with 210 multifamily units & 60 new houses.
- Oversized Parcel (±1.13 AC) | Various Redevelopment + Backfill Options
- Existing ±4,255 SF building on ±1.13 acres
- Residual Value of the Land - the residual value of land along Hwy 321 is astronomically higher versus nearby Knoxville submarkets due to the uncharted growth & the consumer demand that follows.
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