17-Unit Brick Apartment
New
For Sale
$1,850,000
5525 Jacksboro Pike, Knoxville, TN 37918
Multi-Family, Knoxville, TN
Property Size13,728 SF
Lot Size0.62 Acres
Price / SF$134.76
Days on Market2
Property Features for 5525 Jacksboro Pike
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 3
Exterior features
Windows - Vinyl
Appliances
Dishwasher, Range, Refrigerator
Directions
Take I-640 to the Broadway Exit and turn North. Almost immediately bear right onto Tazewell Pike. Stay straight at the light to continue onto Jacksboro Pike. Travel approximately 1.3 miles and turn left onto Watauga Dr. Take the first driveway on the right into the parking lot.
Subdivision
Knox County - 1
Standard status
Active
APN
048MJ006
Size
13,728 SF
Lot size
0.62 Acres
Taxes and HOA fees
Tax Annual Amount
17656
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Building Details
Year built
1976
Number of units
17
Flooring type
Tile, Carpet, Vinyl
Building materials
Brick
Roof type
Composition
Listing Agency:
Goldman Partners Realty, LLC
(865) 444-3240
Listed By:
Solange Velas · License #263596
(865) 444-3241
Added: Sep 7
Changed: Sep 8
Last Checked: Sep 8 at 4:06PM
MLS# 1354678
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 17-unit apartment property at 5525 Jacksboro Pike includes 13,728 square feet on 0.62 acres. The unit mix consists of 16 two-bedroom apartments and one one-bedroom apartment, with one vacancy reported. Built in 1976, the all-brick complex features vinyl windows, composition roofing, central heating and cooling, and interiors with carpet, vinyl, and tile flooring. Appliances include ranges, refrigerators, and dishwashers.
Recent property work includes fresh paint, window upgrades, and HVAC replacements as needed. Professional management is in place. The property is located in Knoxville’s Fountain City area, with access to bus lines, I-40, I-75, downtown Knoxville, Covenant Baseball Stadium, and the University of Tennessee. Nearby context includes local restaurants, grocery stores, parks, and the Fountain City duck pond.
Recent property work includes fresh paint, window upgrades, and HVAC replacements as needed. Professional management is in place. The property is located in Knoxville’s Fountain City area, with access to bus lines, I-40, I-75, downtown Knoxville, Covenant Baseball Stadium, and the University of Tennessee. Nearby context includes local restaurants, grocery stores, parks, and the Fountain City duck pond.
Key Highlights
- 17‑unit apartment complex on 0.62 acres
- Unit mix includes 16 two‑bedroom units and 1 one‑bedroom unit
- 13,728 square feet of property area
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
$123,200
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
6.66%
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%
$2,464,000
$2.5M
Cap Rate 7%
$1,760,000
$1.8M
Cap Rate 9%
$1,368,889
$1.4M
Market Conditions
NOI Build-Up for 13,728 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
$242.2K $17.64/SF
− Vacancy
−$18.2K −$1.32/SF
EGI
$224.0K $16.32/SF
− OpEx
−$100.8K −$7.34/SF
NOI
$123.2K $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%
$2,464,000
Cap Rate 7%
$1,760,000
Cap Rate 9%
$1,368,889
Alternative Uses
Best Use
Apartment 5plus
$1.76M
$1.54M – $2.05M
NOI $123,200 @ 7.0% cap · market cap 6.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.40M
$2.98M – $3.97M
NOI $238,011 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 37918, TN
46,245
Population
20,228
Households
2.3
Avg Household Size
40
Median Age
31%
College-Educated
93%
High-School Grad
34.6 sq mi
ZIP Area
1,337
Density / Sq Mi
$69,311
Median Household Income
$41,882
Median Earnings
$1,102
Median Rent
$237,500
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 - Brick apartment property with one- and two-bedroom units, central HVAC, and updated windows.
Where is this apartment building located?
The property is located at 5525 Jacksboro Pike Knoxville, TN.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 17‑unit apartment complex on 0.62 acres; Unit mix includes 16 two‑bedroom units and 1 one‑bedroom unit; 13,728 square feet of property area
