Duplex with Separate
For Sale
$509,900
123/125 S Chestnut St, Knoxville, TN 37914
Multi-Family, Knoxville, TN
Property Size2,428 SF
Lot Size0.18 Acres
Price / SF$210.01
Days on Market139
Property Features for 123/125 S Chestnut St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 4, Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 6, Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 4
Parking features
Off Street
Interior features
Walk-In Closet(s)
Exterior features
Windows - Vinyl
Appliances
Dishwasher, Disposal, Microwave, Range, Refrigerator, Self Cleaning Oven
Subdivision
STRONG & THOMPSON E END
Elementary school
Sarah M Greene/Magnet
Middle school
Vine/Magnet
High school
Austin East/Magnet
Directions
From Downtown Knoxville / I-40 E, head east on I-40 E toward Asheville. Take Exit 390 for N Cherry St. Turn right onto E Magnolia and then left on the N Chestnut St. The property will be on the right after 3 blocks. Can enter off of S Chestnut St or Louise Ave
Standard status
Active
APN
082NA007
Size
2,428 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
5695
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Building Details
Year built
2023
Number of units
2
Flooring type
Carpet
Building materials
Vinyl Siding, Block, Frame
Roof type
Asphalt
Listing Agency:
Real Broker
(844) 591-7325
Listed By:
Quinn Epperly
(865) 963-8462
Added: Jun 4
Changed: Oct 13
Last Checked: Oct 20 at 11:06AM
MLS# 1343427
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.
Built in 2023, this duplex contains 2,428 square feet across two residential units. Each unit offers 3 bedrooms and 2 bathrooms, with a primary bedroom on the main level. Interior finishes include luxury vinyl plank flooring, white shaker cabinetry, granite countertops, walk-in closets, central heating and cooling, and a full appliance package. Vinyl siding, asphalt roofing, and off-street parking complete the improvements.
The property occupies 0.18 acres at 123/125 S Chestnut St in Knoxville. Each unit has its own driveway, positioned on opposite sides of the property for separate parking access. The land is commercially zoned, and the property is located near Downtown Knoxville with convenient interstate access. Unit 123 is leased on a one-year term expiring in September, while Unit 125 is vacant.
The property occupies 0.18 acres at 123/125 S Chestnut St in Knoxville. Each unit has its own driveway, positioned on opposite sides of the property for separate parking access. The land is commercially zoned, and the property is located near Downtown Knoxville with convenient interstate access. Unit 123 is leased on a one-year term expiring in September, while Unit 125 is vacant.
Key Highlights
- 2023‑built duplex with 2,428 square feet
- Each unit includes 3 bedrooms and 2 bathrooms
- Separate driveways serve the two units from opposite sides of the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,679
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,580
$473.6K
Cap Rate 7%
$338,271
$338.3K
Cap Rate 9%
$263,100
$263.1K
Market Conditions
NOI Build-Up for 2,428 SF
Gross rent
$36.4K $15.00/SF
− Vacancy
−$2.6K −$1.07/SF
EGI
$33.8K $13.93/SF
− OpEx
−$10.1K −$4.18/SF
NOI
$23.7K $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 Rate 5%
$473,580
Cap Rate 7%
$338,271
Cap Rate 9%
$263,100
Alternative Uses
Best Use
Multifamily LT 5
$338.3K
$296.0K – $394.7K
NOI $23,679 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$311.3K
$272.4K – $363.2K
NOI $21,790 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$601.4K
$526.2K – $701.6K
NOI $42,096 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
Explore this area
Business Placement
Demographics for 37914, TN
20,587
Population
9,861
Households
2.1
Avg Household Size
43
Median Age
24%
College-Educated
89%
High-School Grad
39.7 sq mi
ZIP Area
519
Density / Sq Mi
$55,933
Median Household Income
$36,321
Median Earnings
$988
Median Rent
$204,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Separate driveways provide independent access for each residential unit.
Where is this duplex located?
The property is located at 123/125 S Chestnut St Knoxville, TN.
What is the asking price?
The asking price for this property is $509,900.
What are key features of this property?
This property features: 2023‑built duplex with 2,428 square feet; Each unit includes 3 bedrooms and 2 bathrooms; Separate driveways serve the two units from opposite sides of the property
