Two-Unit Duplex with
For Sale
$299,000
4806 Central Avenue Pike, Knoxville, TN 37912
Two matching residential units include private garage areas that provide additional storage space.
Property Size1,325 SF
Price / SF$225.66
Days on Market8
Property Features for 4806 Central Avenue Pike
General Information
Standard status
Active
Size
1,325 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1940
Listed By:
TNLiving.homes
(865) 250-4094
Source:
Tnliving
Added: Sep 20
Last Checked: Sep 26 at 7:08AM
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 TNLiving.homes
Investment Insights
Based on property information with market context.
This duplex contains two residential units, with each side offering two bedrooms and one bathroom. The property measures 1,325 square feet and includes garage areas that can be used for storage. Built in 1940, the building presents a straightforward two-unit configuration for residential occupancy.
Located at 4806 Central Avenue Pike in Knoxville, the property is described as being near the freeway and downtown. The layout also supports an owner-occupant arrangement, with one unit available for personal use and the other suited for a tenant.
Located at 4806 Central Avenue Pike in Knoxville, the property is described as being near the freeway and downtown. The layout also supports an owner-occupant arrangement, with one unit available for personal use and the other suited for a tenant.
Key Highlights
- Two‑unit duplex with 2 bed/1 bath layout on each side
- 1,325 square feet of property size
- Garage areas provide additional storage space
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
$12,922
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
4.32%
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%
$258,440
$258.4K
Cap Rate 7%
$184,600
$184.6K
Cap Rate 9%
$143,578
$143.6K
Market Conditions
NOI Build-Up for 1,325 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
$19.9K $15.00/SF
− Vacancy
−$1.4K −$1.07/SF
EGI
$18.5K $13.93/SF
− OpEx
−$5.5K −$4.18/SF
NOI
$12.9K $9.75/SF
Area
Knoxville, TN
Vacancy
7.12%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$258,440
Cap Rate 7%
$184,600
Cap Rate 9%
$143,578
Alternative Uses
Best Use
Multifamily LT 5
$184.6K
$161.5K – $215.4K
NOI $12,922 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$169.9K
$148.6K – $198.2K
NOI $11,891 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$328.2K
$287.2K – $382.9K
NOI $22,972 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
Explore this area
Business Placement
Demographics for 37912, TN
22,313
Population
10,916
Households
2
Avg Household Size
36
Median Age
23%
College-Educated
88%
High-School Grad
10.6 sq mi
ZIP Area
2,105
Density / Sq Mi
$44,754
Median Household Income
$30,859
Median Earnings
$1,050
Median Rent
$185,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching residential units include private garage areas that provide additional storage space.
Where is this duplex located?
The property is located at 4806 Central Avenue Pike Knoxville, TN.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bed/1 bath layout on each side; 1,325 square feet of property size; Garage areas provide additional storage space
