November 30, 2023
Happy November! I hope everyone had a safe and fun Halloween.
During the last week of October 2023, 1,363 documents were put on record: 329 Trust Deeds (loans) and 271 Warranty Deeds (sales) were included in the total. Property sales with a total value of $113.24 million were topped out by 11 with sales prices over $1 million, five of those being commercial properties.
The Trust Deeds had a combined total of $134.25 million with 12 loans over a million dollars. Eastman Credit Union funded the loan for the highest amount of $23 million and another loan for $5 million. Ameris Bank had the second highest loan of $11.7 million, and Vanderbilt Mortgage funded a $6.94 million loan.
Have you seen the baseball stadium’s progress lately? It’s coming right along and improvements in the surrounding areas continue. In fact, 1801 E. Magnolia, which occupies the whole block, was just sold by Master OZ Swan LLC to Swan Bakery Building LLC for $3.5 million.
Another of the commercial properties is downtown on the corner of King Street and E. Fifth Avenue. Three condos in the Lucerne Condo building on E. Fifth, and six condos in the adjoining condo building at 605 King Street were sold by The Sterchi LLC to Patterson Lucerne LLC for $2.25 million.
In South Knoxville, MSD Pool 2 LLC sold the property of the former Williamsburg Villas Assisted Living on W. Gov. John Sevier Highway to Market Scott LLC for $2.83 million.
Just off Rutledge Pike, between Harris and Babelay roads, S & E Properties LLC sold 76.7 acres of undeveloped property to Heritage Land Development Partners LLC for $1.45 million.
The last property to report on is in the new Grassy Creek development at Schaad Road and Oak Ridge Hwy. CGP Knoxville (Malone Creek) TB LLC sold the Taco Bell restaurant at 6790 Malone Creek Dr. to TACALA Tennessee CORP for $2.5 million.
The three-year comparison chart has been updated as of 10/27/2023.
If your HOA or civic club would like a speaker, give my office a call, at 865-215-2330. Also, visit our new website to learn more about the free Property Fraud Alert program, real estate transfers, our new fee calculator, and other useful resources: https://rod.knoxcounty.org/
Have a great weekend and GO VOLS! – Nick
Nick McBride is register of deeds for Knox County.