Five-Unit Apartment
For Sale
$775,000
Pending
5216 Tillery Rd, Knoxville, TN 37912
Two-story townhome-style units offer private patios, dedicated laundry rooms, and separately metered utilities.
Property Size5,000 SF
Days on Market75
Property Features for 5216 Tillery Rd
General Information
Standard status
Pending
Size
5,000 SF
Property subtype
Multi-Family
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
would benefit from further updating
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
5 x 2BR/1.5BA
Multifamily Units
5
Amenities
laundry room
paved parking lot
backyard space
Building Details
Year Built
1972
Tenancy
Multi
Listed By:
Southern Charm Homes
(865) 518-4324
Source:
Southerncharm
Added: Aug 3
Changed: Oct 6
Last Checked: Oct 14 at 10:47PM
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 Southern Charm Homes
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Investment Insights
Based on property information with market context.
This five-unit apartment building consists of two-story townhome-style residences, each with two bedrooms, one-and-a-half bathrooms, a defined living area, closet storage, and a dedicated laundry room. Every unit also includes a private rear patio. The property has a paved parking lot, backyard space, and a low-maintenance exterior. Built in 1972, the asset would benefit from additional updating, while all five tenants are currently on month-to-month agreements.
Utilities are separately metered by unit, with tenants responsible for their own utility costs. The property sits along the city bus line near Victor Ashe Park, downtown Knoxville, and the University of Tennessee. Schools, a library, medical facilities, shopping, and dining are within walking distance.
Utilities are separately metered by unit, with tenants responsible for their own utility costs. The property sits along the city bus line near Victor Ashe Park, downtown Knoxville, and the University of Tennessee. Schools, a library, medical facilities, shopping, and dining are within walking distance.
Key Highlights
- Five‑unit apartment building with two‑story townhome‑style residences
- Each unit includes 2 bedrooms, 1.5 bathrooms, and a dedicated laundry room
- Private rear patios, paved parking lot, and backyard space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,872
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$897,440
$897.4K
Cap Rate 7%
$641,029
$641.0K
Cap Rate 9%
$498,578
$498.6K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$88.2K $17.64/SF
− Vacancy
−$6.6K −$1.32/SF
EGI
$81.6K $16.32/SF
− OpEx
−$36.7K −$7.34/SF
NOI
$44.9K $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%
$897,440
Cap Rate 7%
$641,029
Cap Rate 9%
$498,578
Alternative Uses
Best Use
Apartment 5plus
$641.0K
$560.9K – $747.9K
NOI $44,872 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,688 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
548
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story townhome-style units offer private patios, dedicated laundry rooms, and separately metered utilities.
Where is this apartment building located?
The property is located at 5216 Tillery Rd Knoxville, TN.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Five‑unit apartment building with two‑story townhome‑style residences; Each unit includes 2 bedrooms, 1.5 bathrooms, and a dedicated laundry room; Private rear patios, paved parking lot, and backyard space
