Two-Unit Residential
For Sale
Contact for pricing
1000 Baker Ave, Knoxville, TN 37920
One residence is vacant, while both units include kitchen appliances and access to laundry connections.
Property Size1,787 SF
Price / SF$153.89
Days on Market205
Property Features for 1000 Baker Ave
General Information
Standard status
Active
Size
1,787 SF
Class
C
Property subtype
Multifamily
Zoning
RN-2
Occupancy
50%
Investment Type
Value Add
Net Operating Income
$20,541
Additional Details
Multifamily Units
2
Building Details
Year Built
1940
Buildings
1
Stories
2
Units
2
Listing Agency:
Goldman Partners Realty
(865) 444-3241
Listed By:
Solange Velas · License #TN 263596
Source:
Crexi
Added: Feb 7
Changed: Aug 29
Last Checked: Aug 29 at 7:16PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Goldman Partners Realty
Investment Insights
Based on property information with market context.
This 1,787-square-foot duplex was built in 1940 and is designated RN-2. The lower residence has two bedrooms and one bathroom, along with a stove, refrigerator, and washer/dryer connections; it is currently vacant. The upstairs unit includes a stove and refrigerator, while a separate utility closet provides additional exterior-access laundry connections.
The property is located in South Knoxville near the Urban Wilderness, with downtown Knoxville, the South Knoxville waterfront district, Ijams Nature Center, parks, and trail systems described as minutes away. The address is 1000 Baker Ave, Knoxville, TN 37920.
The property is located in South Knoxville near the Urban Wilderness, with downtown Knoxville, the South Knoxville waterfront district, Ijams Nature Center, parks, and trail systems described as minutes away. The address is 1000 Baker Ave, Knoxville, TN 37920.
Key Highlights
- 1,787‑square‑foot duplex built in 1940
- RN‑2 zoning
- Lower unit offers 2 bedrooms and 1 bathroom
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
$17,428
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
6.34%
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%
$348,560
$348.6K
Cap Rate 7%
$248,971
$249.0K
Cap Rate 9%
$193,644
$193.6K
Market Conditions
NOI Build-Up for 1,787 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
$26.8K $15.00/SF
− Vacancy
−$1.9K −$1.07/SF
EGI
$24.9K $13.93/SF
− OpEx
−$7.5K −$4.18/SF
NOI
$17.4K $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%
$348,560
Cap Rate 7%
$248,971
Cap Rate 9%
$193,644
Alternative Uses
Best Use
Multifamily LT 5
$249.0K
$217.9K – $290.5K
NOI $17,428 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$229.1K
$200.5K – $267.3K
NOI $16,037 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$442.6K
$387.3K – $516.4K
NOI $30,982 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 37920, TN
41,210
Population
20,180
Households
2
Avg Household Size
37
Median Age
34%
College-Educated
91%
High-School Grad
72.3 sq mi
ZIP Area
570
Density / Sq Mi
$61,348
Median Household Income
$35,591
Median Earnings
$1,092
Median Rent
$231,300
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?
Duplex - One residence is vacant, while both units include kitchen appliances and access to laundry connections.
Where is this duplex located?
The property is located at 1000 Baker Ave Knoxville, TN.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,787‑square‑foot duplex built in 1940; RN‑2 zoning; Lower unit offers 2 bedrooms and 1 bathroom
