April 28, 2023 – Zach Smith of Horvath & Tremblay has successfully completed the sale of an Aspen Dental & AFC Urgent Care in Knoxville, Tennessee. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $3,250,000.
Aspen Dental and AFC Urgent Care are located at 7650 Chapman Highway in Knoxville, Tennessee. The build to suit, two-tenant plaza is improved with Aspen Dental and AFC Urgent Care and contains 7,500 square feet on a 1.6-acre parcel. The Property was constructed in 2018, and both Aspen Dental and AFC Urgent Care have 6+ years remaining on the double net leases with three (3), 5-Year renewal options. Both tenants’ leases call for 10% rent increases every five years throughout the primary lease terms and at the start of each renewal option. The Property is well located at the junction of Chapman Highway (US Route 441) and John Sevier Highway (TN Route 168), the area’s primary commercial and commuter corridors. The Property is adjacent to Starbucks and across the street from a Lowe’s Home Improvement center with several pad sites leased to CVS, McDonald’s, Chick-fil-A, Wendy’s, and IHOP. The Property is just seconds from several other shopping centers all of which drive traffic to the immediate area. Additionally, the Property is just 7.5 miles from the University of Tennessee.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.