Multifamily and Commercial Investment
1412 Knob Creek Rd, Johnson City, TN 37604
Multifamily and commercial property with income potential in prime location.
Type:Multifamily, Retail
Property size:
7,800 SFLot size:
1.00 AcrePrice / SF:
$205/SF- Added:
- Jan 28, 2026
- Days on Market:
- 150
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 1412 Knob Creek Rd
General Information
- Standard status
- Active
- Size
- 7,800 SF
- Lot size
- 1.00 Acre
- Property subtype
- Multifamily, Retail
Building Details
- Year Built
- 1955
Listing office RE/MAX Checkmate Inc REALTORS
Listing date Jan 28, 2026
Source Crexi
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 RE/MAX Checkmate Inc REALTORS
HighLights
- Portfolio includes both residential (8 renovated apartments) and commercial (4748 sq ft building) properties, offering diverse investment opportunities.
- Significant renovations completed on both apartment units and commercial building, including new roofs, siding, plumbing, kitchens, and decking.
- High income potential with a proforma gross income of $114,000 per year.
- Apartments are being subdivided into condos, potentially increasing property value.
- Prime, central location near shopping and schools.
- Each apartment unit includes washer and dryer hookups.
Overview
This portfolio presents an opportunity for passive income or owner-operation, featuring 8 multifamily units rented at $1250 per month. Each unit includes two bedrooms and one bathroom within newly renovated spaces. Adjacent to the residential units is a commercial building with a new roof and renovated exterior, formerly known as the Old Norris Bicycle building. The properties, including the commercial building and quadplexes, are being sold together. The 4748 square foot commercial space offers an opportunity to house a business while retaining the apartments as rentals. Subdividing of the apartments into new condos is underway, positioning the 8 units on approximately one acre with a large backyard. Extensive renovations have been completed, and apartments are being re-filled. The units feature washer and dryer hookups. Apartment renovations include siding, roof, plumbing, walls, new kitchens, and decking. The location is central, near shopping and schools. The property's total size is 7800 square feet. The apartments are being subdivided from new condos and will sit on approximately one acre. The proforma gross income will be $114,000 per year.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $179.7k | $23.04 |
| − Vacancy | −$5.4k | −$0.69 |
| EGI | $174.3k | $22.35 |
| − OpEx | −$52.3k | −$6.70 |
| NOI | $122.0k | $15.64 |
7,800 SF · lease $23.04/SF/yr · vacancy 3.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.74M
$1.53M – $2.03M
NOI $122,024 @ 7.0% cap · market cap 7.63%
Second Best
Apartment 5plus
$629.9K
$551.2K – $734.9K
NOI $44,094 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,256 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Norris Bicycles
(Bike/Boat/Book/etc) Store
Location Insight
- Map
- Local Demand
- City
- Johnson City
- County
- Washington
- State
- Tennessee
- Longitude
- -82.3812083
- Latitude
- 36.3232157
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Multifamily and commercial property with income potential in prime location.
Where is this apartment building located?
The property is located at 1412 Knob Creek Rd Johnson City, TN.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Portfolio includes both residential (8 renovated apartments) and commercial (4748 sq ft building) properties, offering diverse investment opportunities.; Significant renovations completed on both apartment units and commercial building, including new roofs, siding, plumbing, kitchens, and decking.; High income potential with a proforma gross income of $114,000 per year.
