Four-Unit Multifamily
For Sale
$700,000
Pending
2312 Boyds Creek Highway, Sevierville, TN 37876
COMMERCIAL - Sevierville, TN
Property Size3,200 SF
Lot Size0.76 Acres
Days on Market38
Property Features for 2312 Boyds Creek Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Parking
8
Directions
Take Chapman Hwy to Boyds Creek Hwy, approx. 4.5 miles to the property on the left.
Subdivision
Sevierville
Standard status
Pending
APN
025 009.02
Size
3,200 SF
Lot size
0.76 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1764
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1999
Floors in Building
1
Flooring type
Laminate
Listing Agency:
PWA Properties
(865) 233-6441
Listed By:
Kevin Tipton · License #275491
(865) 210-0228
Added: Jul 29
Changed: Aug 6
Last Checked: Sep 4 at 8:06PM
MLS# 313012
Copyright © 2026 Great Smoky Mountains Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
2312 Boyds Creek Highway is a well-maintained four-unit multifamily property consisting of two duplexes. The building features four two-bedroom, one-bathroom units and is currently 100% occupied.
Constructed in 1999, the property has central heating and central air conditioning, with laminate flooring. Public water and public sewer services are in place.
Set on a 0.76-acre lot and totaling approximately 3,200 square feet, this income property is zoned C2 in Sevierville, Tennessee. It is described as conveniently located just 15 minutes from downtown Sevierville and 20 minutes from downtown Knoxville, providing access to major employment centers, retail, dining, and entertainment.
Constructed in 1999, the property has central heating and central air conditioning, with laminate flooring. Public water and public sewer services are in place.
Set on a 0.76-acre lot and totaling approximately 3,200 square feet, this income property is zoned C2 in Sevierville, Tennessee. It is described as conveniently located just 15 minutes from downtown Sevierville and 20 minutes from downtown Knoxville, providing access to major employment centers, retail, dining, and entertainment.
Key Highlights
- Four two‑bedroom, one‑bath units with 100% occupancy
- Two duplex configuration within a four‑unit multifamily building
- Central heating and central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,760
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$475,200
$475.2K
Cap Rate 7%
$339,429
$339.4K
Cap Rate 9%
$264,000
$264.0K
Market Conditions
NOI Build-Up for 3,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.0K $15.00/SF
− Vacancy
−$4.8K −$1.50/SF
EGI
$43.2K $13.50/SF
− OpEx
−$19.4K −$6.08/SF
NOI
$23.8K $7.43/SF
Area
Sevier County, TN
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$475,200
Cap Rate 7%
$339,429
Cap Rate 9%
$264,000
Alternative Uses
Best Use
Apartment 5plus
$339.4K
$297.0K – $396.0K
NOI $23,760 @ 7.0% cap · market cap 3.39%
Second Best
Multifamily LT 5
$249.4K
$218.3K – $291.0K
NOI $17,461 @ 7.0% cap · market cap 2.49%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,464 @ 7.0% cap · market cap 13.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 37876, TN
32,866
Population
18,206
Households
1.8
Avg Household Size
45
Median Age
22%
College-Educated
89%
High-School Grad
186.8 sq mi
ZIP Area
176
Density / Sq Mi
$58,513
Median Household Income
$33,603
Median Earnings
$997
Median Rent
$257,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-unit multifamily property with four two-bedroom, one-bath units, 100% occupied.
Where is this quadplex located?
The property is located at 2312 Boyds Creek Highway Sevierville, TN.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Four two‑bedroom, one‑bath units with 100% occupancy; Two duplex configuration within a four‑unit multifamily building; Central heating and central air conditioning
