Updated 4-Unit
For Sale
$580,000
7003 Old Clinton Pike, Knoxville, TN 37921
Four private-entry residences offer one-bedroom layouts, assigned parking, and a mix of completed and recent interior improvements.
Property Size2,688 SF
Price / SF$215.77
Days on Market271
Property Features for 7003 Old Clinton Pike
General Information
Standard status
Active
Size
2,688 SF
Property subtype
Multi-Family
Net Operating Income
$42,000
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$48,000
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,375
Amenities
Central Cooling
Yes
Laminate, Carpet, Tile
True
Heat Pump, Central, Electric
Dryer, Microwave, Range, Refrigerator, Self Cleaning Oven, Washer
Windows - Vinyl
Cedar, Block, Frame, Other
Building Details
Year Built
1981
Buildings
1
Listing Agency:
Realty Executives Associates
(847) 385-8328
Listed By:
Andreea Toader
Source:
Compass
Added: Dec 3, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:57PM
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 Realty Executives Associates
Investment Insights
Based on property information with market context.
This 2,688-square-foot quadplex contains four separate one-bedroom, one-bath residences, each measuring approximately 672 square feet. Every unit has a private entrance and designated parking. Two apartments feature granite countertops, updated appliances, newer flooring, and fresh paint, while the other two have received flooring and paint updates. HVAC equipment and windows have also been updated.
Located at 7003 Old Clinton Pike in Knoxville, the property sits near I-75 and surrounding shopping, dining, healthcare, parks, and schools. Tenants are responsible for their own utilities and trash service. Interior features include central cooling, heat pump and electric heating, laminate, carpet and tile flooring, and appliances including washers, dryers, microwaves, ranges, refrigerators, and self-cleaning ovens.
Located at 7003 Old Clinton Pike in Knoxville, the property sits near I-75 and surrounding shopping, dining, healthcare, parks, and schools. Tenants are responsible for their own utilities and trash service. Interior features include central cooling, heat pump and electric heating, laminate, carpet and tile flooring, and appliances including washers, dryers, microwaves, ranges, refrigerators, and self-cleaning ovens.
Key Highlights
- 2,688‑square‑foot quadplex with four separate units
- Four approximately 672‑square‑foot residences, each with 1 bedroom and 1 bath
- Private entrances and designated parking for each unit
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
$26,214
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
4.52%
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%
$524,280
$524.3K
Cap Rate 7%
$374,486
$374.5K
Cap Rate 9%
$291,267
$291.3K
Market Conditions
NOI Build-Up for 2,688 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
$40.3K $15.00/SF
− Vacancy
−$2.9K −$1.07/SF
EGI
$37.4K $13.93/SF
− OpEx
−$11.2K −$4.18/SF
NOI
$26.2K $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%
$524,280
Cap Rate 7%
$374,486
Cap Rate 9%
$291,267
Alternative Uses
Best Use
Multifamily LT 5
$374.5K
$327.7K – $436.9K
NOI $26,214 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$344.6K
$301.5K – $402.1K
NOI $24,123 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$665.8K
$582.5K – $776.7K
NOI $46,603 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
Business Placement
Demographics for 37921, TN
28,903
Population
12,969
Households
2.2
Avg Household Size
35
Median Age
27%
College-Educated
87%
High-School Grad
15.9 sq mi
ZIP Area
1,818
Density / Sq Mi
$57,813
Median Household Income
$37,518
Median Earnings
$1,147
Median Rent
$204,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four private-entry residences offer one-bedroom layouts, assigned parking, and a mix of completed and recent interior improvements.
Where is this quadplex located?
The property is located at 7003 Old Clinton Pike Knoxville, TN.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: 2,688‑square‑foot quadplex with four separate units; Four approximately 672‑square‑foot residences, each with 1 bedroom and 1 bath; Private entrances and designated parking for each unit
