Turnkey Duplex Short-Term
For Sale
Contact for pricing
Pending
6628 Greer Rd, Knoxville, TN 37918
Duplex configured for flexible group stays, with separate utilities and HVAC plus abundant parking and outdoor living space.
Property Size2,376 SF
Days on Market110
Property Features for 6628 Greer Rd
General Information
Standard status
Pending
Size
2,376 SF
Class
C
Total Parking Spaces
7
Property subtype
Multifamily
Zoning
RA
Investment Type
Stabilized
Net Operating Income
$46,956
Building Details
Year Built
1956
Year Renovated
2016
Buildings
1
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Goldman Partners Realty
Listed By:
Solange Velas · License #TN 263596
(865) 444-3241
Source:
Crexi
Added: Jun 6
Changed: Sep 18
Last Checked: Sep 22 at 5:30PM
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 Goldman Partners Realty
Investment Insights
Based on property information with market context.
This property is a 5-bedroom, 4-bath duplex currently configured as two fully equipped units designed for short-term group stays. Inside, each unit includes its own full kitchen, and the layout supports large gatherings with dining areas seating 8 in the main space and 6 in the second unit plus an additional 3-seat breakfast bar. Additional operational conveniences include two hot water heaters and dual laundry connections (2 washer and 3 dryer connections). For flexibility and efficiency, utilities are separately metered for both water and electricity, and each unit has its own HVAC system.
Located just outside Knoxville city limits at 6628 Greer Rd, the property is described as about 15 minutes to Covenant Park, Neyland Stadium, and UTK, making it geared toward visiting groups. The asset operates as an established, booked Airbnb duplex and is noted as transferable for an operator seeking to take over the existing turnkey short-term rental setup.
Outside, the screened-in porch, multiple sitting areas, and BBQ patio are built for extended stays, with a massive private fenced backyard that includes a children’s playset. Parking is substantial for the size and use-case, with a gravel pull-through driveway accommodating 7+ vehicles and offering overflow space for trailers or boats. This combination of separate systems, two complete kitchens, and large outdoor space supports a range of short-term and furnished rental scenarios for tenants who want operational separation and group-friendly comfort.
Located just outside Knoxville city limits at 6628 Greer Rd, the property is described as about 15 minutes to Covenant Park, Neyland Stadium, and UTK, making it geared toward visiting groups. The asset operates as an established, booked Airbnb duplex and is noted as transferable for an operator seeking to take over the existing turnkey short-term rental setup.
Outside, the screened-in porch, multiple sitting areas, and BBQ patio are built for extended stays, with a massive private fenced backyard that includes a children’s playset. Parking is substantial for the size and use-case, with a gravel pull-through driveway accommodating 7+ vehicles and offering overflow space for trailers or boats. This combination of separate systems, two complete kitchens, and large outdoor space supports a range of short-term and furnished rental scenarios for tenants who want operational separation and group-friendly comfort.
Key Highlights
- Duplex configured for STR and group stays with a 4.72‑star rating across 54 reviews, currently booked and operating as an income‑producing property
- 5‑bedroom, 4‑bath footprint split into two fully equipped units with space for up to 17 guests across 9 beds
- Two full kitchens, two hot water heaters, and dual laundry hookups (2 washer and 3 dryer connections) across both 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
$23,172
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
4.88%
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%
$463,440
$463.4K
Cap Rate 7%
$331,029
$331.0K
Cap Rate 9%
$257,467
$257.5K
Market Conditions
NOI Build-Up for 2,376 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
$35.6K $15.00/SF
− Vacancy
−$2.5K −$1.07/SF
EGI
$33.1K $13.93/SF
− OpEx
−$9.9K −$4.18/SF
NOI
$23.2K $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%
$463,440
Cap Rate 7%
$331,029
Cap Rate 9%
$257,467
Alternative Uses
Best Use
Multifamily LT 5
$331.0K
$289.7K – $386.2K
NOI $23,172 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$304.6K
$266.5K – $355.4K
NOI $21,323 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$588.5K
$514.9K – $686.6K
NOI $41,194 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
171
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex configured for flexible group stays, with separate utilities and HVAC plus abundant parking and outdoor living space.
Where is this duplex located?
The property is located at 6628 Greer Rd Knoxville, TN.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Duplex configured for STR and group stays with a 4.72‑star rating across 54 reviews, currently booked and operating as an income‑producing property; 5‑bedroom, 4‑bath footprint split into two fully equipped units with space for up to 17 guests across 9 beds; Two full kitchens, two hot water heaters, and dual laundry hookups (2 washer and 3 dryer connections) across both units
