F A R R A G U T ( K N O X V I L L E ) , T N
Farragut Pointe
CPD Kingston Pike : 27,119 Concord Road : 14,420 Demographics Traffic Counts
1 mile 3 mile 5 mile
2011 Est. Population: 4,910 32,257 76,691
2016 Proj. Population: 5,103 34,378 82,499
2011 Est. Avg HH Income: $90,927 $99,552 $95,255 2016 Proj. Avg HH Income: $91,968 $101,022 $97,019
P R O P E R T Y O V E R V I E W
Property Location 11132 Kingston Pike Knoxville, Tennessee GLA +/- 71,311 SF Site Size + 10.4 Acres
Zoning Commercial
Year Built 1991
Parking +/- 378 (5.3 per 1,000 SF)
Access 901 feet on Kingston Pike(with 2 curb cuts) 598 feet on Concrod Rd(with 1 curb cut) Flood Zone
PROPERTY HIGHLIGHTS
Excellent Location
Farragut Pointe is strategically located along Kingston Pike, which parallels I-40 and is the primary commercial artery extending from downtown Knoxville to the City of Farragut. The Property is also near Pellissippi Parkway, a limited access highway connecting the adjacent communities of Oak Ridge, Alcoa, and Maryville. As a result, Farragut Pointe is convenient to the majority of residents within the greater Knoxville metro area.
Submarket Advantage
Farragut Pointe is located within the City of Farragut, a rapidly growing suburban area within the greater Knoxville metro area. Farragut boasts a population of 32,257 people with average household incomes of $99,552, creating significant demand for retail goods and services. Farragut has experienced tremendous growth over the past 10 years. From 2000-2011 the population within a 3 mile radius grew 19.35%, to a total of 12,433 households, translating to almost $1.2 billion in spending power within the immediate area.
University Town
Knoxville, Tennessee is home to the University of Tennessee. The school boasts over 27,000 graduate and undergraduate students and acts as a cultural and economic touchstone for the region. The University is an incubator for highly trained workers, new business initiatives, research and development, and large scale capital projects which support the school’s mission. As a result, the University of Tennessee’s presence adds a recession-proof segment to Knoxville’s economic base.
Knoxville Economy
Knoxville maintains diversity in leading industry sectors including technology, education, healthcare, and tourism. Its “Innovation Valley” economic development partnership has successfully brought world class science, technology and business resources to the region. More than 1,000 wholesale distribution centers call Knoxville home, as well as the customer service call centers for several corporations.
98 Available 57,278 SF 1 2 3 4 5 6 10 Kiddie Cottage United Communi ty Bank Wendy’s BB & T University Medical Plaza T OW N E RO A D C O NC O R D RO A D KINGST ON PIKE Suite Tenant SF 1 Available 1,665 2 Available 1,420
3 Mario’s Pizza & Grill 1,036 4 Fabulous Fido 937 5 Available 1,070 6 Available 2,829 10 Available 5,076 98 Available 57,278
SITE PLAN
E A S T A E R I A L V I E W O F T H E S U B M A R K E T
Concord R
oad
14,420 CPD
Kingston Pike
27,119 CPD
Mercy Medical
Center West
Farragut
Pointe
Turkey Creek
Wal-Mart Supercenter
Pinnacle at
Turkey Creek
S O U T H A E R I A L V I E W O F T H E S U B M A R K E T
Concord R
oad
14,420 CPD
Kingston Pike
27,119 CPD
Farragut
Pointe
N O R T H A E R I A L V I E W O F T H E S U B M A R K E T
Farragut High
School and
Middle School
Kingston Pike
27,119 CPD
Farragut
Pointe
Concord R
oad
14,420 CPD
W E S T A E R I A L V I E W O F T H E S U B M A R K E T
Farragut
Pointe
Brooklawn
Village
Kingston Pike
27,119 CPD
Concord Road
14,420 CPD
Knoxville
is located in the eastern portion of Tennessee and lies in the shadows of the Great Smoky Mountains and the Cumberland Mountains. The Knoxville Metropolitan Statistical Area (MSA) has a population of 712,366 and covers 2,518 square miles through Anderson, Blount, Loudon, Knox, Sevier and Union counties. The third largest metropolitan area in Tennessee, Knoxville is perhaps one of the most scenic cities in the country and provides endless opportunities for recreation and lifestyle.Recently, Knoxville was ranked as one of the 50 hottest cities for business relocation and expansion by Expansion Management Magazine . Additionally, the Knoxville MSA was ranked by “Places Rated Almanac” as the “best place to live in the United States and Canada” among cities with a population of fewer than one million.
At nearly ten percent below the national average, the cost of living in Knoxville is just one of the many factors adding to the great quality of life residents enjoy. Housing prices are among the lowest in the state and are a full 18 percent below the national average. A low tax burden also makes Knoxville one of the nation’s more affordable locations for both businesses and individuals.
The Knoxville area is the hub for three major interstate systems including Interstate 40, Interstate 75 and Interstate 81, and is within one day’s drive of half of the nation’s population. Interstate 640 circles the city to the north and Interstate 140 connects the airport to surrounding cities such as Alcoa and Oak Ridge. The McGhee Tyson Airport, a regional passenger and freight airport, handles over 100 commercial flights dailey for the region. McGhee Tyson is located approximately 12 miles from downtown Knoxville and offers service through 12 commercial airlines.
Knoxville is rich with cultural attractions: a symphony orchestra, an opera company, a city ballet, a professional theater company and multiple museums boasting national exhibits, as well as excellent parks and a thriving downtown. The main campus of the University of Tennessee adds to the allure of this area, with nationally ranked sporting events, and the energy of 27,000 students to the community. The University of Tennessee is a 417–acre campus and offers over 415 degree programs including agriculture, business administration, communications, education, engineering, law, veterinary medicine, social work and liberal arts.
University of Tennessee Campus
Source: Chamber of Commerce December 2011
KNOXVILLE ECONOMY
The City of Knoxville is characterized by a strong business climate and stable, secure employee base provided by The University of Tennessee, Tennessee Valley Authority and the Oak Ridge National Laboratory. Once noted for its manufacturing and distribution operations, Knoxville has seen recent growth in the technology, government and healthcare employment base. More than a thousand wholesale distribution centers call Knoxville home, as well as several customer service call centers for various corporations.
low unemployment, consistent job growth and a Knoxville’s diverse economy greatly benefits from
well–trained growing labor force. The job market in Knoxville is one of the most improved in the country, according to a ranking released by Forbes Magazine. As of December 2010, the Knoxville Area labor force consisted of over 369,480 employees. According to the Tennessee Department of Labor & Workforce Development, the unemployment rate in Knox County
under neighboring county and state averages. With of 7.30 percent as of December 2010 is significantly
a median age of 33.4 the City of Knoxville continues to provide East Tennessee with a strong, sizeable workforce.
MAJOR EMPLOYERS
U.S. Department of Energy 12,620
Covenant Health 8,834
University of Tennessee—Knoxville 8,429
Knox County Schools 8,150
Walmart Stores, Inc. 5,300
St. Mary’s Health System 3,404
Baptist Health System of East Tennessee 2,500
City of Knoxville 2,858
University of Tennessee Medical Center 3,579
Knox County Government 2,623
* Please note: All employment totals include full–time, part–time and seasonal employees.
KNOXVILLE RANKINGS
• Knoxville ranked 10th for “Best Places for
Business and Careers”, Forbes
• Third Best Metro for Business & Expansion,
Expansion Management Magazine
• Eighth among Best Places to Raise a Family,
Forbes
• Fourth Best City for Real Estate Investments, Local
Market Monitor
• Top 5 Metro for Economic Growth Potential,
Business Facilities
• #1 Best Place to Live for cities under one million
population. (354 metros ranked) Places Rated Almanac Millennium Edition
• Knoxville ranked 14th in “Top Logistic Cities in the
Southeast”, Expansion Management Magazine,
11132 Kingston Pike
1 mile radius
11132 Kingston Pike
3 mile radius
11132 Kingston Pike
5 mile radius
POPULA TION 2011 Estimated Population4,910
32,257
76,691
2016 Projected Population5,103
34,378
82,499
2000 Census Population4,492
27,027
61,565
1990 Census Population3,953
20,448
44,522
Growth 2000-20119.32%
19.35%
24.57%
Growth 2011-20163.92%
6.58%
7.57%
2011 Estimated Median Age
40.67
41.35
38.97
2011 Estimated Average Age
39.56
39.29
38.03
HOUSEHOLDS 2011 Estimated Households
1,883
12,433
29,902
2016 Projected Households1,965
12,237
32,042
2000 Census Households1,654
10,137
23,536
1990 Census Households1,292
7,105
16,449
Growth 2000-201113.85%
22.65%
27.05%
Growth 2011-20164.34%
6.47%
7.16%
2011 Estimated Average Household Size
2.55
2.56
2.55
INCOME
2011 Estimated Median Household Income
$73,787
$78,255
$73,272
2016 Projected Median Household Income
$74,466
$79,244
$74,558
2000 Census Median Household Income
$67,258
$69,044
$63,004
1990 Census Median Household Income
$52,248
$48,325
$45,019
2011 Estimated Average Household Income
$90,927
$99,552
$95,255
2011 Estimated Per Capita Income
$35,300
$38,899
$37,340
HOUSING
2011 Estimated Housing Units
1,987
13,120
31,580
2011 Estimated Occupied Units
1,883
12,433
29,902
2011 Estimated Vacant Units
103
687
1,678
2011 Estimated Owner Occupied Units
1,584
10,686
24,381
2011 Estimated Renter Occupied Units
299
1,746
5,521
2011 Estimated Median Housing Value
$195,159
$222,641
$215,274
2011 Estimated Average Housing Value