This is a rare opportunity to acquire one of the last large-scale development sites in the heart of downtown Knoxville. Spanning 5.13 acres across eight contiguous parcels, the Depot & Magnolia assemblage is ideally positioned for a transformative urban project. Located just 0.3 miles from the newly opened Covenant Health Park—a $114 million multi-use stadium hosting over 200 events annually—the site benefits from unmatched visibility and momentum in Knoxville’s fastest-growing corridor.
Zoned DK-W, I-MU, and I-G, the property offers flexible entitlements, including unlimited height and density in key zones. The I-G parcels are strong candidates for rezoning, further enhancing development potential. The site’s level terrain is a rare advantage in Knoxville’s hilly landscape, simplifying construction logistics.
Surrounded by vibrant districts like the Old City, Market Square, and Gay Street, the property sits within walking distance of over 90 restaurants and bars, major employers like TVA and Regal, and the University of Tennessee, which enrolls nearly 39,000 students. Knoxville’s metro population exceeds 950,000, and the city ranks among the top housing markets and retirement destinations in the U.S.
This assemblage is a prime candidate for mixed-use, multifamily, hospitality, or commercial development, offering scale, location, and zoning flexibility in a market with strong public-private investment and sustained growth.
Sam Harrell
Realty Executives Associates, Inc
