12-Unit Brick Townhouse
102 Asbury Way, Maryville, TN 37804
For Sale
$2,500,000
Pending
Multi-Family, Maryville, TN
Property Size12,804 SF
Lot Size2.00 Acres
Days on Market565
Property Features for 102 Asbury Way
General Information
Property type
Property subtype
Patio and Porch features
Interior features
Appliances
Middle school
High school
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Individually Metered Utilities
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
Skyway Realty Land & Homes
(423) 253-7100
Listed By:
Marla Marie Phillis
(614) 332-2887
Added: Apr 27, 2025
Changed: Oct 27
Last Checked: Nov 12 at 7:06AM
MLS# 1298964
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.
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Investment Insights
Based on property information with market context.
This multifamily property contains 12 townhouse units across two all-brick 6-plex buildings. Each residence measures approximately 1,110 square feet and includes two bedrooms, 1.5 bathrooms, a pantry, patio, and parking at the unit entrance. Construction dates to 1979, with shingle roofing, central heating and cooling, and a mix of carpet and laminate flooring.
Ten units have undergone remodeling, while two are partially remodeled. Improvements include granite countertops, new sinks, kitchen faucets, and other updates. Every unit is separately metered, with residents responsible for their own utilities. The property occupies a 2-acre tract, including approximately 1 acre of green space. It is situated in a suburban setting characterized primarily by single-family residences.
Ten units have undergone remodeling, while two are partially remodeled. Improvements include granite countertops, new sinks, kitchen faucets, and other updates. Every unit is separately metered, with residents responsible for their own utilities. The property occupies a 2-acre tract, including approximately 1 acre of green space. It is situated in a suburban setting characterized primarily by single-family residences.
Key Highlights
- 12 townhouse units in two all‑brick 6‑plex buildings
- Approximately 1,110 SF per unit; each has 2 bedrooms and 1.5 bathrooms
- 10 units remodeled and 2 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.
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Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
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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 residential buildings offer remodeled interiors, private patios, front-door parking, and separately metered utilities.
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 townhouse units in two all‑brick 6‑plex buildings; Approximately 1,110 SF per unit; each has 2 bedrooms and 1.5 bathrooms; 10 units remodeled and 2 partially remodeled
