Two-Bedroom Apartment
For Sale
$2,950,000
5211 Pocahontas Drive, Knoxville, TN 37914
MULTI_FAMILY - Knoxville, TN
Property Size12,600 SF
Price / SF$234.13
Days on Market97
Property Features for 5211 Pocahontas Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
Chilhowee Hills Pt Lots 1-10
Elementary school
Sunnyview
Middle school
Holston
High school
Austin East/Magnet
Directions
GPS Friendly. From Downtown Knoxville: Take I-40E to Exit 394. Make a right. Then another right at Iroquois Rd. Lastly turn right on Pocahontas Dr.
Standard status
Active
APN
071GC005
Size
12,600 SF
Taxes and HOA fees
Tax Annual Amount
15410
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Building Details
Year built
1982
Number of units
21
Building materials
Frame
Roof type
Metal
Listing Agency:
Sexton Real Estate Services, Inc.
(865) 300-4300
Listed By:
Ivann Garcia
(865) 274-6632
Added: May 28
Changed: Jul 9
Last Checked: Sep 1 at 5:06PM
MLS# 1342605
Copyright © 2026 East Tennessee Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale investment portfolio includes 21 individual units with identical layouts. Each unit offers two bedrooms and one bathroom, with washer and dryer connections. Improvements across the properties include full interior remodels, replacement of numerous HVAC systems, installation of metal roofs, and additional new parking spaces. Tenants also benefit from assigned parking spaces, private decks, and the absence of shared walls with neighbors.
The units are located next to each other on Pocahontas Drive, which leads to a cul-de-sac and is described as producing minimal through traffic. The setting is within a residential neighborhood of predominantly owner-occupied, single-family homes, surrounded by woods. The property is approximately 10 minutes from downtown Knoxville and about 15 minutes to Sevierville, with access to employment, dining, educational institutions, and public transportation described as convenient.
From a tenant-management standpoint, the lease terms require tenants to pay the first month's rent and a security deposit. Water, trash, pest control, and lawn care services are included in the rent, while tenants pay for electric and internet. The current average rent per unit is stated as $1,410, and tenants are not eligible for assistance programs; however, the units are described as able to pass inspections for available programs if the new owner chooses to participate. Financials are available upon request for qualified buyers or investors.
The units are located next to each other on Pocahontas Drive, which leads to a cul-de-sac and is described as producing minimal through traffic. The setting is within a residential neighborhood of predominantly owner-occupied, single-family homes, surrounded by woods. The property is approximately 10 minutes from downtown Knoxville and about 15 minutes to Sevierville, with access to employment, dining, educational institutions, and public transportation described as convenient.
From a tenant-management standpoint, the lease terms require tenants to pay the first month's rent and a security deposit. Water, trash, pest control, and lawn care services are included in the rent, while tenants pay for electric and internet. The current average rent per unit is stated as $1,410, and tenants are not eligible for assistance programs; however, the units are described as able to pass inspections for available programs if the new owner chooses to participate. Financials are available upon request for qualified buyers or investors.
Key Highlights
- 21‑unit individual unit investment portfolio for sale; units are next to each other with identical 2 bed / 1 bath layouts
- All units have washer and dryer connections, plus private decks and assigned parking spaces; no shared walls with neighbors
- Updates across the portfolio include full interior remodels, replacement of numerous HVAC systems, and installation of metal roofs
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
$113,077
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
3.83%
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%
$2,261,540
$2.3M
Cap Rate 7%
$1,615,386
$1.6M
Cap Rate 9%
$1,256,411
$1.3M
Market Conditions
NOI Build-Up for 12,600 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
$222.3K $17.64/SF
− Vacancy
−$16.7K −$1.32/SF
EGI
$205.6K $16.32/SF
− OpEx
−$92.5K −$7.34/SF
NOI
$113.1K $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 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%
$2,261,540
Cap Rate 7%
$1,615,386
Cap Rate 9%
$1,256,411
Alternative Uses
Best Use
Apartment 5plus
$1.62M
$1.41M – $1.88M
NOI $113,077 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.12M
$2.73M – $3.64M
NOI $218,454 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21
Residential units
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
Explore this area
Business Placement
Demographics for 37914, TN
20,587
Population
9,861
Households
2.1
Avg Household Size
43
Median Age
24%
College-Educated
89%
High-School Grad
39.7 sq mi
ZIP Area
519
Density / Sq Mi
$55,933
Median Household Income
$36,321
Median Earnings
$988
Median Rent
$204,300
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?
Apartment building - 21-unit multifamily portfolio with remodeled interiors, updated HVACs, and in-unit washer/dryer connections for consistent tenant livability.
Where is this apartment building located?
The property is located at 5211 Pocahontas Drive Knoxville, TN.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 21‑unit individual unit investment portfolio for sale; units are next to each other with identical 2 bed / 1 bath layouts; All units have washer and dryer connections, plus private decks and assigned parking spaces; no shared walls with neighbors; Updates across the portfolio include full interior remodels, replacement of numerous HVAC systems, and installation of metal roofs
