April was busy for the Register’s office, and the last week of the month was no exception. The total number of deeds recorded in the final week was 1,696, which included 451 new loans and 294 property sales. During the entire month of April, we recorded 7,382 documents.
Last week’s 451 new loans carried a value of more than $158 million, with the largest being $38.76 million funded by Morgan Stanley Bank NA. The next largest loans fall into the $3 million range. AmerisBank funded a loan for $3.43 million, and Eastman Credit Union funded one in the amount of $3 million. The other 10 loans over $1 million were funded by:
Among the 294 property transfers recorded last week, 12 were transfers over $1 million, and four of those were commercial properties. Additionally, 24 acres on West Emory at Blacks Ferry Road were sold by Miller Land and Cattle LLC to Springplace Apartments Limited Partnership and Primos Land Co. LLC for $1.51 million. Two properties were included in this transaction, 5913 W. Emory Rd and 7405 Blacks Ferry Road.
Nick McBride
There happened to be two commercial properties on Dutch Valley Road that were included in the million-dollar property sales. The Dollar General store at 616 Dutch Valley was sold by 648 North Harvard Blvd. LLC to DG Knoxville for $1.81 million.
The second was 1924 Dutch Valley Drive, home of the Tennessee Virtual Academy. The $1.1 million transfer was between Graveston LLC and Two Wrenches Holdings LLC, which also owns the adjacent land.
The highest value property to change hands is near the trendy Fourth & Gill neighborhood just north of downtown. If you didn’t know, Knoxville has a meadery and cidery, the Barrelhouse by Gypsy Circus. Located at 621 Lamar Street at 3rd Avenue, the property formerly owned by C. Kunz is now owned by 6600 KP Partnership, who purchased it for $2 million.
It’s great to see the sales trends still moving upward in the three-year comparison table. With interest rates on the rise, it will be interesting to see how that affects the trend in our area. Tennessee is a great option for those having lived in one of the more expensive states since we have a lower cost of living than many states.
Did you know that deeds and releases aren’t the only documents we record? We also record the plats for new neighborhoods and restrictions and by-laws for neighborhoods, so if you need a copy of yours, we can get one for you.
Have a great weekend!
Nick McBride is register of deeds for Knox County.