Mixed-Use Apartment and Retail
1412 Knob Crk Rd Johnson City, TN 37604
For Sale
Contact for pricing
Pending
Portfolio includes 8 renovated two-bedroom units plus an adjacent commercial building with a newly renovated exterior.
Property Size12,848 SF
Days on Market190
Property Features for 1412 Knob Crk Rd
General Information
Standard status
Pending
Size
12,848 SF
Property subtype
MULTIFAMILY
Listing Agency:
Re/Max Checkmate, REALTORS Commercial
(423) 612-3035
Listed By:
Jay R Goodson · License #329807
(423) 612-3035
Source:
Moodyscre
Added: Jan 20
Changed: Jul 28
Last Checked: Jul 28 at 4:00PM
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, REALTORS Commercial
Investment Insights
Based on property information with market context.
This for-sale portfolio packages multifamily and retail in one offering, consisting of 8 multifamily units and an adjacent commercial building. The apartments are two bed, one bath and have been newly renovated, with in-unit washer/dryer hookups. Renovations noted include updated exterior finishes such as siding, roofing, plumbing, repaired damaged walls, new kitchens, and new decking.
An adjacent commercial building is also included, with a new roof and renovated exterior. The offering is marketed as being sold together with the related multifamily structures, with the commercial space identified as 4,748 square feet.
The property includes active reconfiguration of the residential portion, with apartment subdividing underway to place the 8 units on approximately one acre of their own land, plus a large back yard area. The listing notes proforma results tied to current occupancy and commercial income, and indicates buyers should request the newest rent roll and verify all information.
An adjacent commercial building is also included, with a new roof and renovated exterior. The offering is marketed as being sold together with the related multifamily structures, with the commercial space identified as 4,748 square feet.
The property includes active reconfiguration of the residential portion, with apartment subdividing underway to place the 8 units on approximately one acre of their own land, plus a large back yard area. The listing notes proforma results tied to current occupancy and commercial income, and indicates buyers should request the newest rent roll and verify all information.
Key Highlights
- Portfolio includes 8 multifamily units plus an adjacent commercial building (sold together as Old Norris Bicycle building and adjacent quadplexes).
- 8 units are newly renovated 2 bed, 1 bath rentals, with washer/dryer hookups in each unit.
- Property renovations include exterior improvements such as siding, roof, plumbing, repaired/damaged walls, new kitchens, and brand new decking on the apartments.
Financial Insights For Apartment 5plus
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 | $141.8k | $11.04 |
| − Vacancy | −$9.8k | −$0.76 |
| EGI | $132.1k | $10.28 |
| − OpEx | −$59.4k | −$4.63 |
| NOI | $72.6k | $5.65 |
12,848 SF · lease $11.04/SF/yr · vacancy 6.90% · expense 45.00%
Alternative Uses
Best Use
Retail
$2.87M
$2.51M – $3.35M
NOI $200,996 @ 7.0% cap · market cap 12.97%
Second Best
Apartment 5plus
$1.04M
$907.9K – $1.21M
NOI $72,630 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$5.42M
$4.74M – $6.32M
NOI $379,273 @ 7.0% cap · market cap 24.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Portfolio includes 8 renovated two-bedroom units plus an adjacent commercial building with a newly renovated exterior.
Where is this apartment building located?
The property is located at 1412 Knob Crk Rd Johnson City, TN.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Portfolio includes 8 multifamily units plus an adjacent commercial building (sold together as Old Norris Bicycle building and adjacent quadplexes).; 8 units are newly renovated 2 bed, 1 bath rentals, with washer/dryer hookups in each unit.; Property renovations include exterior improvements such as siding, roof, plumbing, repaired/damaged walls, new kitchens, and brand new decking on the apartments.
