12-Unit Brick Apartment
For Sale
$2,500,000
Pending
102 Asbury Way, Maryville, TN 37804
Two brick buildings contain townhome-style residences with separate utility meters and parking at each unit.
Property Size12,804 SF
Lot Size2.00 Acres
Days on Market13
Property Features for 102 Asbury Way
General Information
Standard status
Pending
Size
12,804 SF
Lot size
2.00 Acres
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
12 x 2BR/1.5BA
Multifamily Units
12
Individually Metered Utilities
unspecified utilities
Additional Details
Utilities to Site
Yes
Tenant in Place
Yes
Amenities
Laminate,Carpet
true
Windows - Bay
Pantry
155Mx590M
On Premise Parking
12804
Building Details
Building Size
12,804 SF
Year Built
1979
Buildings
2
Construction
brick
Listing Agency:
(423) 973-8634
Listed By:
Audra Osborne
Source:
Greaterimpactrealty
Added: Oct 19
Changed: Oct 28
Last Checked: Oct 31 at 2:46AM
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 Audra Osborne
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Investment Insights
Based on property information with market context.
The property comprises 12 townhome-style apartments arranged in two brick six-unit buildings. Each residence has 2 bedrooms and 1.5 bathrooms, with approximately 1,110 square feet of living area. Units are separately metered, and parking is located at the front of each residence. Ten units have been fully remodeled and two have received partial remodels; all have granite countertops, new sinks, and kitchen faucets.
The buildings occupy a 2-acre tract in Maryville, Tennessee, with approximately 1 acre maintained as green space. All 12 units are currently rented, and the property has had no vacancies during the past 3 years.
The buildings occupy a 2-acre tract in Maryville, Tennessee, with approximately 1 acre maintained as green space. All 12 units are currently rented, and the property has had no vacancies during the past 3 years.
Key Highlights
- 12 townhome‑style units in two brick six‑unit buildings
- Each residence has 2 bedrooms, 1.5 bathrooms, and approximately 1,110 square feet
- 10 units fully remodeled; 2 units partially remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$115,777
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,315,540
$2.3M
Cap Rate 7%
$1,653,957
$1.7M
Cap Rate 9%
$1,286,411
$1.3M
Market Conditions
NOI Build-Up for 12,804 SF
Gross rent
$225.9K $17.64/SF
− Vacancy
−$15.4K −$1.20/SF
EGI
$210.5K $16.44/SF
− OpEx
−$94.7K −$7.40/SF
NOI
$115.8K $9.04/SF
Area
Blount County, TN
Vacancy
6.80%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,315,540
Cap Rate 7%
$1,653,957
Cap Rate 9%
$1,286,411
Alternative Uses
Best Use
Apartment 5plus
$1.65M
$1.45M – $1.93M
NOI $115,777 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.15M
$4.51M – $6.01M
NOI $360,839 @ 7.0% cap · market cap 14.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
12
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Explore this area
Business Placement
Demographics for 37804, TN
27,075
Population
10,569
Households
2.6
Avg Household Size
40
Median Age
22%
College-Educated
89%
High-School Grad
34.9 sq mi
ZIP Area
776
Density / Sq Mi
$75,794
Median Household Income
$37,879
Median Earnings
$1,155
Median Rent
$224,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two brick buildings contain townhome-style residences with separate utility meters and parking at each unit.
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: 12 townhome‑style units in two brick six‑unit buildings; Each residence has 2 bedrooms, 1.5 bathrooms, and approximately 1,110 square feet; 10 units fully remodeled; 2 units partially remodeled
