9-Unit Apartment
For Sale
Contact for pricing
4725 Mint Road, Maryville, TN 37803
Mint Road Apartments is a 9-unit multifamily property converted from a 1925 schoolhouse on a 4.27-acre site.
Property Size12,445 SF
Lot Size4.27 Acres
Price / SF$112.49
Days on Market69
Property Features for 4725 Mint Road
General Information
Standard status
Active
Size
12,445 SF
Class
C
Total Parking Spaces
18
Lot size
4.27 Acres
Property subtype
Multifamily
Zoning
Blount County
Occupancy
89%
Investment Type
Value Add
Net Operating Income
$114,169
Additional Details
Multifamily Units
9
Building Details
Year Built
1925
Year Renovated
2021
Buildings
1
Stories
2
Units
9
Tenancy
Multi
Construction
adaptive-reuse
Listing Agency:
MMG
Listed By:
Austin Fragoletti · License #360207
Source:
Crexi
Added: Jul 1
Changed: Sep 5
Last Checked: Sep 3 at 7:20AM
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 MMG
Investment Insights
Based on property information with market context.
Mint Road Apartments is a 9-unit multifamily community on a 4.27-acre parcel. Originally built in 1925 and converted from a former schoolhouse, the property blends its historic adaptive-reuse character with in-place residential units. The major building systems have been modernized, with light cosmetic value-add remaining.
The property is located at 4725 Mint Road in Maryville, Tennessee, about 15 miles south of downtown Knoxville, within the broader Knoxville MSA (approximately 952,000 residents). The site is described as having long-range Great Smoky Mountain views. The remarks note a holding with 95.9% occupancy within a high-income, supply-constrained submarket.
As presented, Mint Road Apartments offers an owner immediate in-place income supported by modernized building systems and an opportunity for light cosmetic improvements.
The property is located at 4725 Mint Road in Maryville, Tennessee, about 15 miles south of downtown Knoxville, within the broader Knoxville MSA (approximately 952,000 residents). The site is described as having long-range Great Smoky Mountain views. The remarks note a holding with 95.9% occupancy within a high-income, supply-constrained submarket.
As presented, Mint Road Apartments offers an owner immediate in-place income supported by modernized building systems and an opportunity for light cosmetic improvements.
Key Highlights
- 9‑unit multifamily property at 4725 Mint Road, Maryville, TN on a 4.27‑acre parcel
- Originally built in 1925 and converted from a former schoolhouse
- Major building systems modernized
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
$112,531
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
8.04%
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%
$2,250,620
$2.3M
Cap Rate 7%
$1,607,586
$1.6M
Cap Rate 9%
$1,250,344
$1.3M
Market Conditions
NOI Build-Up for 12,445 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
$219.5K $17.64/SF
− Vacancy
−$14.9K −$1.20/SF
EGI
$204.6K $16.44/SF
− OpEx
−$92.1K −$7.40/SF
NOI
$112.5K $9.04/SF
Area
Blount County, TN
Vacancy
6.80%
Lease Rate
$17.64 /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%
$2,250,620
Cap Rate 7%
$1,607,586
Cap Rate 9%
$1,250,344
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,531 @ 7.0% cap · market cap 8.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.01M
$4.38M – $5.85M
NOI $350,722 @ 7.0% cap · market cap 25.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 37803, TN
33,463
Population
14,525
Households
2.3
Avg Household Size
46
Median Age
34%
College-Educated
93%
High-School Grad
87.7 sq mi
ZIP Area
382
Density / Sq Mi
$81,006
Median Household Income
$45,467
Median Earnings
$1,107
Median Rent
$312,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Mint Road Apartments is a 9-unit multifamily property converted from a 1925 schoolhouse on a 4.27-acre site.
Where is this apartment building located?
The property is located at 4725 Mint Road Maryville, TN.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 9‑unit multifamily property at 4725 Mint Road, Maryville, TN on a 4.27‑acre parcel; Originally built in 1925 and converted from a former schoolhouse; Major building systems modernized
