18-Bed Student Housing Apartment
For Sale
$700,000
2215 S Roane St, Harriman, TN 37748
Shared recreation amenities and convenient access to Roane State Community College support student-oriented occupancy.
Property Size6,500 SF
Days on Market93
Property Features for 2215 S Roane St
General Information
Standard status
Active
Size
6,500 SF
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Amenities
pool table
ping-pong table
big-screen TV
sectional couch
Building Details
Building Size
6,500 SF
Year Built
1990
Listing Agency:
SVN I Wood Properties
Listed By:
Ford Collier · License #TN #373873
(865) 337-3438
Source:
Svn
Added: Jul 30
Changed: Oct 25
Last Checked: Oct 28 at 6:21AM
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 SVN I Wood Properties
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Investment Insights
Based on property information with market context.
This apartment building is configured for student housing with 11 bedrooms, 18 total beds, 8 full bathrooms, and 3 half bathrooms. The layout includes a large shared common area furnished with a pool table, ping-pong table, big-screen TV, and spacious sectional couch. Built in 1990, the property provides a high-capacity residential configuration with substantial shared amenity space.
Located at 2215 S Roane St in Harriman, Tennessee, the property is approximately 3 minutes from Roane State Community College and Interstate 40. The nearby campus connection and interstate access provide convenient routes for residents traveling to school and throughout the surrounding area.
Located at 2215 S Roane St in Harriman, Tennessee, the property is approximately 3 minutes from Roane State Community College and Interstate 40. The nearby campus connection and interstate access provide convenient routes for residents traveling to school and throughout the surrounding area.
Key Highlights
- 18‑bed student housing property with 11 bedrooms
- 8 full bathrooms and 3 half bathrooms
- Large shared common area with pool table, ping‑pong table, big‑screen TV, and sectional couch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,333
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,166,660
$1.2M
Cap Rate 7%
$833,329
$833.3K
Cap Rate 9%
$648,144
$648.1K
Market Conditions
NOI Build-Up for 6,500 SF
Gross rent
$114.7K $17.64/SF
− Vacancy
−$8.6K −$1.32/SF
EGI
$106.1K $16.32/SF
− OpEx
−$47.7K −$7.34/SF
NOI
$58.3K $8.97/SF
Area
Roane County, TN
Vacancy
7.50%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,166,660
Cap Rate 7%
$833,329
Cap Rate 9%
$648,144
Alternative Uses
Best Use
Apartment 5plus
$833.3K
$729.2K – $972.2K
NOI $58,333 @ 7.0% cap · market cap 8.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,694 @ 7.0% cap · market cap 16.10%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
105
Businesses Nearby
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Business Placement
Demographics for 37748, TN
17,227
Population
8,208
Households
2.1
Avg Household Size
45
Median Age
20%
College-Educated
87%
High-School Grad
106.6 sq mi
ZIP Area
162
Density / Sq Mi
$58,649
Median Household Income
$40,155
Median Earnings
$760
Median Rent
$173,600
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 - Shared recreation amenities and convenient access to Roane State Community College support student-oriented occupancy.
Where is this apartment building located?
The property is located at 2215 S Roane St Harriman, TN.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 18‑bed student housing property with 11 bedrooms; 8 full bathrooms and 3 half bathrooms; Large shared common area with pool table, ping‑pong table, big‑screen TV, and sectional couch
