This week started off with a holiday to honor Dr. Martin Luther King Jr., so many people (including the employees of the register’s office) are happy that this is a short work week! Hope you were able to enjoy the long weekend.
We recorded 1,810 documents last week, including 267 warranty deeds that carried a total value of $151+ million. Most of the 12 property transfers over $1 million were commercial properties in East Knoxville, including the highest value property, 811 East, the brightly colored apartments overlooking the river and across from the Knoxville Police Department, which was the largest sale of the week. Knoxville Housing SM LLC sold the complex to Triangle 811 LLC for $33 million.
Nick McBride
Close to the Knoxville Center exit on I-640, two prominent properties also have new owners. The Lowe’s Home Improvement, located at 3100 South Mall Road, was sold by SREC 3100 South Mall NL LLC to Knoxville Commercial Investment LLC for $25.26 million. The other is the former Don Pablo’s restaurant building located across from the new Amazon Campus. SEDD Realty Co. sold this property to HKM Inc for $1.15 million. It will be interesting to see what the new owners have planned for this piece of property.
Another East Knoxville property also changed hands. This one, off Rutledge Pike, is the home of Clarke Power Services on the corner of Ault Road and Shangri-la. Wrennovation LLC sold it to BRI 1429 Ault Road LLC for $4.25 million.
In South Knoxville, nine properties on the same block, but addressed on Boggs, Davenport and Yarnell Avenues, are now under new ownership. These were purchased by The Steps House Inc for $2.02 million. The Steps House Inc. provides housing for homeless veterans.
In West Knoxville, NSP Kingston Pike LLC sold their property in the Marketplace Shopping Center on Kingston Pike to two private parties for $7.4 million dollars. The building, located at 9305 Kingston Pike, is now occupied by an Auto Zone Auto Parts store (former Kroger).
As for loans, we recorded 484 loans with a total value of $261+ million. Of those, 12 were loans over $1 million. The highest value loan was $6 million and was funded by Corevest American Finance. There were two loans in the $4 million range, one was $4.3 million, loaned by Keybank N.A, and the other was for $4 million and loaned by Pinnacle Bank. Pinnacle Bank was busy this week, funding four of the million-dollar loans. The banks providing the other million-dollar loans were:
2022 is off to a good start, though I’ve been told that the inventory of existing homes on the market is low right now. I do know more homes are being built and are planned for building according to the properties that were sold in the last quarter of 2021. Interest rates are still very low, so I hope everyone looking for their dream home can find one now, or in the near future.
Here are our year-to-date comparisons for the last three years.
I’m now on Instagram as well as Facebook. On Instagram, look me up @nickmcbrideregisterofdeeds. Please follow the pages the next time you are scrolling through. And, if there’s a need for a speaker at a luncheon, homeowner’s meeting or any other gathering, please give me a call to schedule. The office number is 865-215-2330. I have great information pertaining to the sales and trends in Knox County that I’d love to share with you. Have a great week!
Nick McBride is register of deeds for Knox County.