2709 Roberts Road, Kodak, TN 37764

Building Details

Building Size 13,500 SF More

Year Built 1995 More

Buildings 2 More

Listing Agency: Skye Realty Show Phone

Listed By: Noreen McConnell · License TN #276187 Show Phone

Source: Concordrealty

Added: Jul 13 Changed: Nov 10 Last Checked: Nov 9 at 7:14PM

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Investment Insights

Based on property information with market context.

Built in 1995, this 13,500-square-foot apartment property contains 12 two-bedroom, two-bath units across two buildings. The eight-unit building is single-level; the second building contains four apartments, including one with an oversized two-car garage below it. Each residence has a private patio or deck, and the grounds include a level yard. The property has received updates and is zoned R1.

Located on Roberts Road in Kodak, the property is near Buc-ee’s and Walmart, with access to I-40. The complex has maintained consistently high occupancy, according to the provided property details.

Key Highlights

• 12 apartments, each with 2 bedrooms and 2 bathrooms
• 13,500 square feet across two buildings
• Eight‑unit building has single‑level apartments

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$100,238

Cap Rate

4.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,004,760 $2.0M

Cap Rate 7%

$1,431,971 $1.4M

Cap Rate 9%

$1,113,756 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,500 SF

Gross rent

$202.5K $15.00/SF

− Vacancy

−$20.3K −$1.50/SF

EGI

$182.3K $13.50/SF

− OpEx

−$82.0K −$6.08/SF

NOI

$100.2K $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 Rate 5%

$2,004,760

Cap Rate 7%

$1,431,971

Cap Rate 9%

$1,113,756

Alternative Uses

Best Use

Apartment 5plus

$1.43M

$1.25M – $1.67M (±1% cap)

NOI $100,238 @ 7.0% cap · market cap 4.36%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$5.69M

$4.98M – $6.64M (±1% cap)

NOI $398,520 @ 7.0% cap · market cap 17.33%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

12

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

15

Businesses Nearby

Explore this area Business Placement

Demographics for 37764, TN

10,583

Population

4,673

Households

2.3

Avg Household Size

42

Median Age

19%

College-Educated

88%

High-School Grad

34.1 sq mi

ZIP Area

310

Density / Sq Mi

$69,028

Median Household Income

$31,986

Median Earnings

$1,095

Median Rent

$226,200

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Apartment building - Residents have private patios or decks, with an oversized two-car garage beneath one of the apartments.

Where is this apartment building located?

The property is located at 2709 Roberts Road Kodak, TN.

What is the asking price?

The asking price for this property is $2,300,000.

What are key features of this property?

This property features: 12 apartments, each with 2 bedrooms and 2 bathrooms; 13,500 square feet across two buildings; Eight‑unit building has single‑level apartments