21-Unit Multifamily
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 Market101
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
Central, Electric (Heating)
Cooling system
Central Air
Amenities
assigned parking spaces
private decks
in-unit washer and dryer connections
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: Sep 4
Last Checked: Sep 5 at 12:06AM
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 21-unit multifamily portfolio contains 12,600 square feet of residential improvements built in 1982. Each unit follows the same two-bedroom, one-bathroom layout and includes washer and dryer connections, a private deck, assigned parking, and no shared walls with neighboring units. Improvements include full interior remodels, replacement of numerous HVAC systems, metal roofing, and added parking spaces. Frame construction, central heating, electric heat, and central air conditioning serve the properties.
The units are located at 5211 Pocahontas Drive in Knoxville, where the street terminates in a cul-de-sac and the surrounding residential area includes predominantly owner-occupied single-family homes. The setting is bordered by woods and has limited through traffic. Downtown Knoxville is approximately 10 min away, while Sevierville is approximately 15 min away.
Water, trash, pest control, and lawn care are included in tenant charges, while residents pay for electric and internet service. The portfolio is managed under lease terms requiring the first month's rent and a security deposit.
The units are located at 5211 Pocahontas Drive in Knoxville, where the street terminates in a cul-de-sac and the surrounding residential area includes predominantly owner-occupied single-family homes. The setting is bordered by woods and has limited through traffic. Downtown Knoxville is approximately 10 min away, while Sevierville is approximately 15 min away.
Water, trash, pest control, and lawn care are included in tenant charges, while residents pay for electric and internet service. The portfolio is managed under lease terms requiring the first month's rent and a security deposit.
Key Highlights
- 21‑unit portfolio with 12,600 square feet of residential improvements
- Each unit includes 2 bedrooms, 1 bathroom, a private deck, assigned parking, and washer and dryer connections
- Full interior remodels completed across the units
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?
Multifamily property - Remodeled residential units offer private decks, assigned parking, and washer and dryer connections.
Where is this multifamily property 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 portfolio with 12,600 square feet of residential improvements; Each unit includes 2 bedrooms, 1 bathroom, a private deck, assigned parking, and washer and dryer connections; Full interior remodels completed across the units
