7-Unit Apartment
For Sale
$999,950
311 Silver Place, Knoxville, TN 37917
Long-term rental property with individually metered utilities where applicable and owner-paid common utilities and water/sewer.
Property Size5,626 SF
Price / SF$177.74
Days on Market224
Property Features for 311 Silver Place
General Information
Standard status
Active
Size
5,626 SF
Property subtype
MULTI_FAMILY
Zoning
RN-4
Units
Multifamily Units
7
Individually Metered Utilities
unspecified utilities
Additional Details
Currently Operating
Yes
Building Details
Building Size
5,626 SF
Year Built
1899
Listing Agency:
Pace Probity Asset Management
Listed By:
Christy CJ Pace
(865) 388-7131
Source:
Knoxvillefinehomes
Added: Mar 19
Changed: Oct 26
Last Checked: Oct 26 at 3:22PM
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 Pace Probity Asset Management
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Investment Insights
Based on property information with market context.
This 7-unit apartment property contains 5,626 square feet and dates to 1899. The units are operated as long-term rentals, and ownership is working to fill vacancies. Utilities are individually metered where applicable; the owner pays common utilities and water/sewer. The property is zoned RN-4.
The address is in North Knoxville, minutes from Downtown Knoxville, the University of Tennessee, major employers, and local entertainment districts.
The address is in North Knoxville, minutes from Downtown Knoxville, the University of Tennessee, major employers, and local entertainment districts.
Key Highlights
- Seven‑unit apartment property totaling 5,626 square feet
- Built in 1899
- RN‑4 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,490
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,009,800
$1.0M
Cap Rate 7%
$721,286
$721.3K
Cap Rate 9%
$561,000
$561.0K
Market Conditions
NOI Build-Up for 5,626 SF
Gross rent
$99.2K $17.64/SF
− Vacancy
−$7.4K −$1.32/SF
EGI
$91.8K $16.32/SF
− OpEx
−$41.3K −$7.34/SF
NOI
$50.5K $8.97/SF
Area
Knoxville, 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%
$1,009,800
Cap Rate 7%
$721,286
Cap Rate 9%
$561,000
Alternative Uses
Best Use
Apartment 5plus
$721.3K
$631.1K – $841.5K
NOI $50,490 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.22M – $1.63M
NOI $97,541 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,038
Businesses Nearby
Explore this area
Business Placement
Demographics for 37917, TN
25,013
Population
14,216
Households
1.8
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
9.5 sq mi
ZIP Area
2,633
Density / Sq Mi
$51,232
Median Household Income
$37,853
Median Earnings
$1,063
Median Rent
$189,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Long-term rental property with individually metered utilities where applicable and owner-paid common utilities and water/sewer.
Where is this apartment building located?
The property is located at 311 Silver Place Knoxville, TN.
What is the asking price?
The asking price for this property is $999,950.
What are key features of this property?
This property features: Seven‑unit apartment property totaling 5,626 square feet; Built in 1899; RN‑4 zoning
