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    102 Asbury Way Maryville, TN 37804

    View on Map
    Sponsored
    Picture of Apartment buildings at Asbury Way 102, Maryville, TN
    Pending
    $2,500,000

    MULTI_FAMILY - Maryville, TN

    Property size:
    12,804 SF
    Lot size:
    2.00 Acres
    Days on Market:
    260
    Last Refresh:
    Mar 23 at 10:06 pm

    Property Features for 102 Asbury Way

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    APN
    047L A 005.00
    Patio and Porch features
    Patio
    Interior features
    Pantry
    Appliances
    Dishwasher, Disposal, Microwave, Range, Refrigerator, Self Cleaning Oven
    Size
    12,804 SF
    Lot size
    2.00 Acres

    Utilities

    Heating system
    Central, Electric (Heating), Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1979
    Number of units
    12
    Flooring type
    Laminate, Carpet
    Building materials
    Brick
    Roof type
    Shingle

    We can help!

    Listing Contact
    Marla Marie Phillis

    Skyway Realty Land & Homes

    Listing agent Marla Marie Phillis

    Listing date Jul 7, 2025

    MLS# 1298964 Listing URL

    Copyright © 2026 East Tennessee Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Maryville Townhouse Units For Sale

    This property features twelve townhouse units located in Maryville, Tennessee. The units are situated in two all-brick 6-plexes within a quiet suburban area primarily consisting of single-family residences. Each townhome offers approximately 1,110 square feet of living space, with 2 bedrooms and 1.5 bathrooms. Each unit is separately metered, and tenants are responsible for their own utilities. On-site parking is available directly in front of each unit. The property is suitable for investors seeking a low-maintenance, quality asset in a prime location for long-term or short-term rentals. All units are currently rented, generating over $18,000.00 per month in income. Ten of the units have been fully remodeled, while two have been partially remodeled. All units feature new granite countertops, sinks, and kitchen faucets. The property has maintained zero vacancies in the past 3 years. Situated on a 2-acre tract, approximately 1 acre is currently used as green space, presenting potential for development into a value-add space for tenants. The property is located in the foothills of the Great Smoky Mountains. The property size is 12804 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Building Supply Gym & Fitness Center Auto Parts Store Kitchen & Bath Showroom Department Store Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Maryville
    County
    Blount
    State
    Tennessee
    Longitude
    -83.933214
    Latitude
    35.767224

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    FAQs

    What type of property is this?
    Apartment building - Twelve townhouse units in booming Maryville, Tennessee.
    Where is this apartment building located?
    The property is located at 102 Asbury Way Maryville, TN.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: - High Income: Property generates over $18,000/month from rentals.; - Prime Location: Located in booming Maryville, TN, near the Great Smoky Mountains.; - Low Vacancy: Zero vacancies in the past 3 years.
    (614) 332-2887
    Request Owner's contact information
    102 Asbury Way Maryville, TN 37804
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    Maryville, TN 37804
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    102 Asbury Way Maryville, TN 37804
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    Listing Contact
    Marla Marie Phillis
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