4-Unit Duplex
For Sale
Contact for pricing
Pending
2312 Boyds Creek Highway, Sevierville, TN 37876
Two duplex buildings provide four residential units with consistent occupancy in Sevierville, Tennessee.
Property Size3,200 SF
Days on Market13
Property Features for 2312 Boyds Creek Highway
General Information
Standard status
Pending
Size
3,200 SF
Property subtype
Multifamily
Zoning
C2
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1999
Buildings
2
Units
4
Tenancy
Multi
Listing Agency:
PWA Properties
(865) 936-9999
Listed By:
Kevin Tipton · License #275491
Source:
Crexi
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 6 at 12:01PM
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 PWA Properties
Investment Insights
Based on property information with market context.
This multifamily property includes two duplex buildings with four total units. Each residence offers two bedrooms and one bathroom, creating a consistent unit mix across the 3,200-square-foot property. Built in 1999, the asset is currently 100% occupied and is zoned C2.
Located at 2312 Boyds Creek Highway in Sevierville, the property is approximately 15 minutes from downtown Sevierville and 20 minutes from downtown Knoxville. The surrounding regional economy includes employment centers, retail, dining, entertainment, and attractions associated with the Great Smoky Mountains area, including Dollywood, The Island in Pigeon Forge, outlet shopping, and outdoor recreation.
Located at 2312 Boyds Creek Highway in Sevierville, the property is approximately 15 minutes from downtown Sevierville and 20 minutes from downtown Knoxville. The surrounding regional economy includes employment centers, retail, dining, entertainment, and attractions associated with the Great Smoky Mountains area, including Dollywood, The Island in Pigeon Forge, outlet shopping, and outdoor recreation.
Key Highlights
- Four units in two duplex buildings
- Four 2‑bedroom, 1‑bathroom units
- 3,200 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,760
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$475,200
$475.2K
Cap Rate 7%
$339,429
$339.4K
Cap Rate 9%
$264,000
$264.0K
Market Conditions
NOI Build-Up for 3,200 SF
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.
Gross rent
$48.0K $15.00/SF
− Vacancy
−$4.8K −$1.50/SF
EGI
$43.2K $13.50/SF
− OpEx
−$19.4K −$6.08/SF
NOI
$23.8K $7.43/SF
Area
Sevier County, TN
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$475,200
Cap Rate 7%
$339,429
Cap Rate 9%
$264,000
Alternative Uses
Best Use
Apartment 5plus
$339.4K
$297.0K – $396.0K
NOI $23,760 @ 7.0% cap · market cap 3.39%
Second Best
Multifamily LT 5
$249.4K
$218.3K – $291.0K
NOI $17,461 @ 7.0% cap · market cap 2.49%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,464 @ 7.0% cap · market cap 13.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 37876, TN
32,866
Population
18,206
Households
1.8
Avg Household Size
45
Median Age
22%
College-Educated
89%
High-School Grad
186.8 sq mi
ZIP Area
176
Density / Sq Mi
$58,513
Median Household Income
$33,603
Median Earnings
$997
Median Rent
$257,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two duplex buildings provide four residential units with consistent occupancy in Sevierville, Tennessee.
Where is this duplex located?
The property is located at 2312 Boyds Creek Highway Sevierville, 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: Four units in two duplex buildings; Four 2‑bedroom, 1‑bathroom units; 3,200 square feet
