September 21, 2023
Here we are at the end of the month already; time is flying by! Last week the office recorded 1,245 deeds. This included 256 Trust Deeds (loans) and 190 Warranty Deeds (property sales). The combined value of the property sales was $105.9 million.
The most expensive properties transferred last week were bought by Core Knoxville 18th LLC. The company acquired three lots on the 1800 block of Cumberland Ave, as well as two on White Ave. The owner made a huge decision when he signed the warranty deeds on the well-known location, and one of Knoxville’s oldest restaurants. The property of the Original Copper Cellar was purchased in 1980!
In 1986 he purchased the parking lot behind it with an address of 1826 White Avenue and acquired the adjacent house at 1800 White Avenue in 2010. Also included in the property transfers were the buildings at 1801 Cumberland Ave and 1815 Cumberland Ave. Core Knoxville 18th LLC purchased the properties for $19.5 million.
Another restaurant building has a new owner after being closed for a few years. The former Outback Restaurant building located at the Strawberry Plains exit sold last week for $1.25 million. LD Real Estate LLC purchased the property from National Retail Properties that owned it since 2012
The next notable transfer was the Iron Works property on Mynderse Avenue, off of Western. The property was owned by the Towe family since 1961. Last week the family sold the land and buildings to CMC Steel US LLC for $3.1 million.
Hillside Place Apartments, which is visible from the Broadway Exit on I-640, also transferred ownership last week. The complex at 2050 Edgeview Way was sold by Hillside Place Housing LLC to SC East TN LLC for $8.25 million. Hillside originally purchased this property in 2013.
In North Knoxville, Turner Homes sold 6 units in the new Snowmass subdivision in one fell swoop. Sugarland WAK LLC purchased the adjoining units in the neighborhood just off E Emory Road for $1.6 million.
Moving to West Knoxville, the Scooter’s Coffee property located at 8004 Kingston Pike, was sold by Acre Kingston Pike LLC. Capiello Trust purchased the property for $1.06 million.
A little further west, in Hardin Valley, 21 lots of the Hayden Farms subdivision were sold. One of the largest homebuilders in our area, Smithbilt LLC, purchased the lots from Clayton Properties Group for $1.62 million.
As for lending on the week, the 256 loans were recorded at a collective value of $125.8 million. Fifth Third Bank, National Association funded the largest loan of the week at $28.15 million. Prospect Bank backed the second largest mortgage at a value of $23.4 million. The other four loans over a million dollars were:
The three-year comparison chart has been updated as of last Friday.
Last week I had the pleasure of speaking at the Rotary Club luncheon. I enjoy getting out and interacting with our community through the various clubs and associations Knox County offers. If you have interest in me presenting at your meeting, please call me at the office to discuss availability: 865-215-2330.
Finally, don’t forget about the FREE Property Fraud Alert program that is in place for the citizens of Knox County. This was designed to help you protect your property and your peace of mind. The program sends an email alert when something is recorded in the name or address listed with the service. It is easy to sign up; follow this link or go to: https://alertme.knoxrod.org, then click on “Register Here” and follow the prompts.
Have a great weekend! – Nick
Nick McBride is register of deeds for Knox County.
September 21, 2023
September 14, 2023
September 7, 2023