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    Turnkey Multifamily Investment Opportunity Title is generated by Realmo AI

    2810&2812 Daybreak Way, Strawberry Plains, TN 37871

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    Claim this Listing
    For Sale
    $1,599,000

    MULTI_FAMILY - Strawberry Plains, TN

    Property size:
    8,993 SF
    Lot size:
    3.11 Acres
    Price / SF:
    $177/SF
    Added:
    Jul 14, 2025
    Days on Market:
    325
    Last Refresh:
    Jun 3 at 5:06 am

    Property Features for 2810&2812 Daybreak Way

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    21
    Rooms
    Bathroom 1, Bedroom 16, Bedroom 5, Bedroom 10, Bedroom 13, Bedroom 14, Bedroom 6, Bedroom 1, Bedroom 17, Bathroom 5, Bedroom 19, Bathroom 13, Bedroom 15, Bedroom 21, Bathroom 6, Bedroom 4, Bedroom 12, Bedroom 2, Bedroom 20, Bathroom 8, Bathroom 9, Bathroom 3, Bedroom 7, Bedroom 3, Bathroom 11, Bedroom 8, Bathroom 10, Bedroom 11, Bathroom 2, Bathroom 4, Bathroom 12, Bathroom 7, Bedroom 9, Bedroom 18
    Patio and Porch features
    Porch
    Exterior features
    Windows - Vinyl, Balcony
    Appliances
    Dishwasher, Range, Refrigerator
    Standard status
    Active
    APN
    053M A 013.00
    Size
    8,993 SF
    Lot size
    3.11 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4474

    Utilities

    Utilities
    Cable Available
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1981
    Number of units
    13
    Flooring type
    Laminate
    Building materials
    Brick
    Roof type
    Asphalt, Shingle

    We can help!

    Listing Contact
    Linda Meese
    Linda Meese

    Listing agent Linda Meese

    Listing office Realty Executives Associates 10255 Kingston Pike, knoxville, TN

    Listing date Jul 14, 2025

    MLS# 1308338 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.

    HighLights

    • Turnkey, income‑producing 13‑unit apartment complex with leases in place for instant cash flow
    • Numerous recent updates including new vinyl windows and new HVAC systems in most units
    • Well‑maintained all‑brick construction
    • Over 3 acres of land with potential for expansion
    • Conveniently located near Knoxville and Sevierville in Jefferson County, Tennessee
    • Most units feature new appliances and refinished kitchen cabinets & hardware

    Overview

    This well-maintained, all-brick, 13-unit apartment property is located near Knoxville and Sevierville in Jefferson County. Situated on over 3 acres, the property offers potential for expansion. Numerous updates have been completed, including new vinyl windows and parking lot lighting in 2022. Recent updates within the last 5 years feature modern light fixtures, plank flooring, and updated outlets and switches. Most units include new appliances, refinished kitchen cabinets, and hardware. New porch lights were installed in 2024, and new HVAC systems have been installed in most units. The septic system is scheduled to be pumped in 2025. All units are currently leased, providing instant cash flow. The property consists of 8993 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Strawberry Plains
    County
    Jefferson
    State
    Tennessee
    Longitude
    -83.644089
    Latitude
    36.042093

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    • $699,000
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    FAQs

    What type of property is this?
    Apartment building - Well-maintained 13-unit apartment complex near Knoxville and Sevierville.
    Where is this apartment building located?
    The property is located at 2810&2812 Daybreak Way Strawberry Plains, TN.
    What is the asking price?
    The asking price for this property is $1,599,000.
    What are key features of this property?
    This property features: Turnkey, income‑producing 13‑unit apartment complex with leases in place for instant cash flow; Numerous recent updates including new vinyl windows and new HVAC systems in most units; Well‑maintained all‑brick construction
    (865) 693-3232
    We can help!
    Listing Contact
    Linda Meese
    Linda Meese
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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
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