Updated Fourplex with On-Site
For Sale
$675,000
Pending
9125 NW Cedarpark Lane, Knoxville, TN 37923
Multi-Family, Knoxville, TN
Property Size4,744 SF
Days on Market36
Property Features for 9125 NW Cedarpark Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Patio and Porch features
Patio
Interior features
Walk-In Closet(s), Pantry
Appliances
Dishwasher, Range
Subdivision
Creekwood Sub Unit 2
Directions
N Cedar Bluff to Right on Cross Park (at McDonalds),turn left at 4 way stop, turn right on Cedarpark, property on left
Standard status
Pending
APN
119GB010
Size
4,744 SF
Taxes and HOA fees
Tax Annual Amount
2416
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Building Details
Year built
1979
Number of units
4
Flooring type
Carpet, Vinyl
Building materials
Vinyl Siding, Brick, Frame
Roof type
Shingle
Listing Agency:
Realty Executives Associates · Realty Executives International
(865) 983-0011
Listed By:
Hannah Hicks
(865) 335-8437
Added: Jul 31
Changed: Aug 27
Last Checked: Sep 4 at 10:06AM
MLS# 1350263
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.
Investment Insights
Based on property information with market context.
This fourplex contains 4 units within 4,744 square feet. Units A and C each provide 2 bedrooms and 1.5 bathrooms, while Units B and D each offer 3 bedrooms and 2.5 bathrooms. Three units are currently leased. Interior improvements include LVP and carpet flooring, refreshed cabinetry and countertops, and replacement windows. New siding contributes to the property's updated exterior, while central air and electric heating serve the building. Additional features include walk-in closets, pantries, dishwashers, ranges, patios, shingle roofing, and off-street parking.
The property is located near the Cedar Bluff area in West Knoxville at 9125 NW Cedarpark Lane, Knoxville, TN 37923. Constructed in 1979, the building uses brick, vinyl siding, and frame construction.
The property is located near the Cedar Bluff area in West Knoxville at 9125 NW Cedarpark Lane, Knoxville, TN 37923. Constructed in 1979, the building uses brick, vinyl siding, and frame construction.
Key Highlights
- Fourplex with 4 units and 4,744 square feet
- Unit mix includes two 2‑bedroom, 1.5‑bath units and two 3‑bedroom, 2.5‑bath units
- Three units currently leased
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
$46,265
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
6.85%
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%
$925,300
$925.3K
Cap Rate 7%
$660,929
$660.9K
Cap Rate 9%
$514,056
$514.1K
Market Conditions
NOI Build-Up for 4,744 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
$71.2K $15.00/SF
− Vacancy
−$5.1K −$1.07/SF
EGI
$66.1K $13.93/SF
− OpEx
−$19.8K −$4.18/SF
NOI
$46.3K $9.75/SF
Area
Knoxville, TN
Vacancy
7.12%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$925,300
Cap Rate 7%
$660,929
Cap Rate 9%
$514,056
Alternative Uses
Best Use
Multifamily LT 5
$660.9K
$578.3K – $771.1K
NOI $46,265 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$608.2K
$532.2K – $709.6K
NOI $42,574 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,250 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,717
Businesses Nearby
Explore this area
Business Placement
Demographics for 37923, TN
29,705
Population
14,238
Households
2.1
Avg Household Size
37
Median Age
47%
College-Educated
93%
High-School Grad
11.1 sq mi
ZIP Area
2,676
Density / Sq Mi
$70,046
Median Household Income
$42,498
Median Earnings
$1,303
Median Rent
$292,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units combine varied layouts with dedicated off-street tenant parking.
Where is this quadplex located?
The property is located at 9125 NW Cedarpark Lane Knoxville, TN.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Fourplex with 4 units and 4,744 square feet; Unit mix includes two 2‑bedroom, 1.5‑bath units and two 3‑bedroom, 2.5‑bath units; Three units currently leased
