Rarely does a building of this size, quality, and location hit the market in Knoxville.
The asset is vacant at closing, allowing immediate occupancy for an owner-user without lease buyouts or downtime. Renovated in 2019
Located in one of the fastest growing areas on the riverfront, just south of downtown in the thriving Riverfront South district, this±10,000 freestanding property offers exceptional flexibility and upside in one of East Tennessee’s most dynamic growth corridors. Zoned C-3 (Light Industrial), the site allows for retail, office, creative space, light manufacturing, cold storage, showroom, event venue, microbrewery, or virtually any mixed-use concept. Convenient freeway access enhances both visibility and accessibility.
LOCATION DESCRIPTION
The City of Knoxville is investing $19 million in the Sevier Avenue streetscape, adding wider sidewalks, a riverfronttrail behind the building, pedestrian upgrades, a newroundabout, a pedestrian bridge from downtown (under construction), and an 80-space public parking lot.
The building offers two expansive patio areas, the front with roll-up garage doors, plus a rear deck extension opportunity overlooking the future walking trail — creating an ideal indoor/outdoor environment for a restaurant, taproom, or music venue.
With 25 climate-controlled rooms on the office side and a walk-in cooler on the industrial side, the property is also uniquely positioned for a mixed-use coworking and hospitality concept.
The office and retail suites require only minor cosmetic updates to be move-in ready, making the property well-suited for a law firm, HVAC or plumbing contractor, distribution, medical supply, design studio, or any professional service seeking a high visibility, strategically located headquarters or regional office.
Whether you’re an owner-user seeking the perfect headquarters, a developer hunting the ultimate adaptive-reuse opportunity, or an investor chasing strong, tax-advantaged cash flow in a supply-constrained submarket, this asset exceptionally difficult to replicate today at any price. For investors with capital gains seeking a true tax-free vehicle (not just deferral) via an Opportunity Zone strategy, this is your move.
Located in one of the fastest-growing riverfront corridors in Knoxville, just south of Downtown in the thriving South Waterfront /Old Sevier district, this ±10,000 SF freestanding property benefits from exceptional riverfront proximity, regional access, and significant public infrastructure investment.
Proximity Advantage
- Immediate access to Downtown Knoxville, the University of Tennessee, I-40, I-275, and the James White Parkway
- Near downtown Knoxville’s emerging tech and office hub
- Fast, regional access via all major Knoxville highways
- Proximity to expanding Oak Ridge Data-Center cluster (≈40 minutes)
Highlights That Can’t Be Replicated
- Situated in a federally designated Opportunity Zone, offering significant tax advantages for qualified investors
- True scarcity: Virtually zero competing
±10,000 SF buildings of this quality and condition are currently available south of the river
- Strong surrounding growth: New residential, retail, and hospitality projects transforming the entire South Riverfront district
Link to Propert
1004 Sevier Ave Knoxville, TN 37920
Questions Buyers Ask About 1004 Sevier Avenue
The questions owner-users, developers and investors ask most often about this South Waterfront building. Verify every figure during due diligence.
What is the property?
It is a ±10,000 SF freestanding building at 1004 Sevier Ave, Knoxville, TN 37920, renovated in 2019. It sits in the fast-growing South Waterfront / Old Sevier district, just south of downtown Knoxville.
Is the building occupied?
It will be vacant at closing, so an owner-user can move in right away with no lease buyouts or downtime. The office and retail suites need only minor cosmetic updates.
How is the price justified?
Almost no competing ±10,000 SF buildings of this quality are for sale south of the river. The building comes with 25 climate-controlled office rooms, a walk-in cooler on the industrial side, two patios with roll-up garage doors, and Opportunity Zone status. Contact Carson for pricing and comparable sales.
How is it zoned?
The listing describes the zoning as C-3 (Light Industrial), which allows retail, office, creative space, light manufacturing, cold storage, showroom, event venue and microbrewery uses. Knoxville adopted a new zoning code in 2020, so confirm the current designation and your specific use with Knoxville-Knox County Planning.
Is it in an Opportunity Zone?
Yes. It sits in a federally designated Opportunity Zone. Investors who put eligible capital gains in through a Qualified Opportunity Fund and meet the holding and improvement rules can exclude the appreciation from federal tax. The rules shift as new zone designations take effect in 2027, so confirm the timing with your CPA.
Does it qualify for a 1031 exchange?
Yes, if you hold it for investment or use it in your business. Section 1031 only requires that you hold the replacement property for investment or for use in your business, identify it within 45 days of selling, and close within 180 days through a qualified intermediary. Note that 1031 and Opportunity Zone benefits can't be applied to the same dollars, so pick the strategy that fits your gain.
What about parking and access?
The city's streetscape project is adding an 80-space public parking lot, and the site has convenient freeway access to I-40, I-275 and the James White Parkway.
What drives demand in this area?
Knoxville is investing $19 million in the Sevier Avenue streetscape, including wider sidewalks, a riverfront trail behind the building, a roundabout, and a pedestrian bridge from downtown. The site is near the University of Tennessee and downtown's tech and office hub, and about 40 minutes from the Oak Ridge data center cluster.
Who is the ideal buyer?
Good fits include a restaurant, taproom or music venue using the patios, a law firm, a design studio, an HVAC or plumbing contractor, a distributor or medical supply company wanting a headquarters, or an investor pursuing an Opportunity Zone strategy.
How do I tour the building or get more information?
Contact Carson Jones at 615-212-5524 or carson.jones@expcommercial.com. Tours are by appointment. Detailed documents are shared with serious buyers, usually after a short confidentiality agreement (NDA).
What exactly is being sold?
The ±10,000 SF freestanding building at 1004 Sevier Ave and its site, delivered vacant at closing. Ask Carson for the asking price, legal description and lot size.
Is there in-place income or NOI?
No. The building is vacant at closing, so there is no in-place NOI. That suits an owner-user who wants to move in right away; an investor would underwrite lease-up of the office, retail and industrial sides.
What should a buyer verify before redeveloping?
Confirm the current zoning and your intended use with Knoxville-Knox County Planning, and get city approval for the rear deck extension toward the future riverfront trail. Check how the city's $19 million Sevier Avenue streetscape work, including the new roundabout and public parking lot, affects access while it is under construction, and confirm Opportunity Zone eligibility with your CPA.
Selling or buying commercial property? Let's talk.
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Carson Jones
Carson Jones is the host of Carson's Corner: Commercial Real Estate, author of The Red Flag Playbook, a licensed commercial real estate advisor and business broker, and the founder of Passive Investments. With 18 years of experience as an entrepreneur and 12 years specializing in passive investing, Carson works with high-net-worth individuals, family offices, business owners, and sophisticated investors as a broker and principal.
Carson holds a BBA in Finance from Baylor University and his Tennessee commercial real estate license (#382989). He actively pursues acquisition and equity opportunities across the United States and abroad through a worldwide network of qualified buyers, family offices, institutional investors, and top-tier developers.