535 Old Knoxville Hwy
Newport, TN 37821
- – beds
- – baths
- 18,582 sqft
- $226 per sqft
- 2024 build
- – on site
Prime Investment Opportunity: Modern 19 Unit Complex with High Growth Potential Prime Investment Opportunity | Available Now Solid NOI and Cap Rate 7% New Construction- 19 Units (6 Triplexes, 1 home, 2 billboards) Triplexes Completed in 2024 Built with efficiency and maintenance in mind- LVP flooring throughout, granite countertops, knockdown walls, laundry closets in each unit, foam insulation, Roof(s) 30 year shingle, tenants pay utilities, stainless steel appliances, keyless entry, and decks, open tenant parking. Great location- 5 minutes to Interstate 40 - Leases for each Triplex Unit average $1400 per month - There is also a single family home on the property currently bringing $2500 per month - 95% Occupancy Rate - There is also double Billboard on the property contracted with Lamar Advertising for additional income - Total property includes- 4.23 acres- Room to develop and add more Structures/Triplexes Owner Operator pays for trash removal, property management, and a county water fee ANNUAL OPERATING EXPENSES PROPERTY TAXES- $2428.83 COUNTY WATER FEE - $360 LANDSCAPING- $4800 TRASH REMOVAL- $1920 NOI AT 100%- $301,911 East Tennessee- Newport Offering Memorandum and Rent Roll Available- Request via agent link
Listing courtesy of KAARMLS / Realty Executives Associates
Last checked:
Checking…
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Last updated Jan 18, 2025
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MLS# 1283461 —
The Building
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Year Built:2024
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New Construction:No
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Construction Materials:Vinyl Siding, Block, Frame
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Architectural Style:None
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Direction Faces:None
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Roof:None
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Stories:None
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Stories Total:None
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Basement:None
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Exterior Features:Windows - Insulated, Windows - Vinyl, Doors - Energy Star, Deck, Window - Energy Star
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Patio & Porch Features:None
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Security Features:None
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Accessibility Features:None
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Building Area Total:18582.0
Interior
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Rooms Total:None
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Flooring:Vinyl, Sustainable, Other
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Fireplace:No
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Fireplaces Total:None
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Fireplace Features:None
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Laundry Features:None
Room Dimensions
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Living Area:None
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Living Area Units:None
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Living Area Source:None
Location
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Directions:Take exit 432 for US-25W/US-70/US-411 S toward Newport/Sevierville 0.1 mi Take the ramp to US-25W S/US-411 N/US-70 E/Hwy 411 N 253 ft Turn left onto US-25W S/US-411 N/US-70 E/Hwy 411 N Continue to follow US-70 E Destination will be on the right
The Property
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Parcel Number:046 147.00
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Property Type:Multi-Family
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Property Subtype:None
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Lot Features:None
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Lot Size Dimensions:159X135/150
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Lot Size Source:None
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Zoning:None
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Zoning Description:None
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Current Use:None
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Possible Use:None
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Topography:None
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View:None
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Fencing:None
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Waterfront:No
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Water Body Name:None
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Frontage Type:None
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Road Frontage Type:None
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Property Attached:No
Listing Agent
- Contact info:
- Office phone:
- (865) 588-3232
Beds
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Bedrooms Total:None
Baths
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Full Baths:None
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Three Quarter Baths:None
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Half Baths:None
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Partial Baths:None
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Quarter Baths:None
The Listing
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Virtual Tour URL Branded:None
Heating & Cooling
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Heating:Central, Electric
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Heating:true
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Cooling:Central Cooling, Ceiling Fan(s)
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Cooling:true
Utilities
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Utilities:None
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Electric:None
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Sewer:None
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Water Source:None
Appliances
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Appliances:Dishwasher, Microwave, Range, Refrigerator, Self Cleaning Oven, Smoke Detector
Schools
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Elementary School District:None
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Middle Or Jr High School District:None
The Community
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Senior Community:No
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Community Features:None
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Pool Private:No
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Pool Features:None
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Spa Features:None
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Association:No
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Association Fee:None
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Association Fee Includes:None
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Association Fee Frequency:None
Parking
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Attached Garage:false
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Carport Spaces:None
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Parking Features:On Premise Parking, Off-Street Parking, Other
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
11/24/24
Nov 24, 2024
|
Listed / Active | KAARMLS | $4,200,000 |