621 Dale Avenue/411 Dale Avenue/207 N 17th Street
Knoxville, TN 37921
Submarket: Downtown Knoxville
+/-105,548 square foot building
Land Area (SF): 231,739 SF
Land Area (AC): 5.32 AC
Frontage: 1,148′ (seen from I-40)
Traffic Count: 20,384 (2013) – 17th Street; 143,662 (2013) – Interstate 40
Parking spots: +/- 200
Sale Price: $5,000,000
Sale Type: Investment
Price/Land SF: $21.58/SF
Price/Land AC: $939,850/AC
Sale Date: December 31, 2014
Recorded Buyer: Obsidian Development, LLC
Recorded Seller: VS, LLC and Volunteer Studios Plus Partners
Buyer Broker: Jeff Cutler – CBRE | Michigan
Seller Broker: Rick Gentry – Cushman & Wakefield | Cornerstone
Occupancy at time of sale: Unknown
Economy Inn demolished; Volunteer Studios sold
“Last month, Obsidian also purchased a site near the corner of Dale Avenue and 17th Street — including the Volunteer Studios extended stay building — for $5 million.”
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