535 Old Knoxville Highway

Newport, TN 37821

$4,200,000
Price
—
Beds
18,582 Sq. Ft.
$226 / Sq. Ft.
18,582
Sq. Ft.
$226
per Sq. Ft.
535 OLD KNOXVILLE HWY
20241120_132656
20241120_132705
2382 SQFT HOME
LEFT ELEVATION
dji_fly_20241123_113102_0013_17324064442
dji_fly_20241123_113406_0018_17324064434
LAUNDRY CLOSET
KITCHEN
LIVING AREA STAGED
FULL KITCHEN
UPSTAIRS CORRIDOR
HALLWAY STORAGE718_090924
BEDROOM 1 STAGED
FULL BATH
BEDROOM 2 STAGED
AMPLE STORAGE
FULL BATH
CONTRACTED BILLBOARDS
AERIAL TAX MAP
535 OLD KNOXVILLE HIGHWAY LOCATION HIGHL

Description

Prime Investment Opportunity: Modern 19 Unit Complex with High Growth Potential
Prime Investment Opportunity | Available Now
Solid NOI and Cap Rate 7.2%
New Construction- 19 Units (6 Triplexes, 1 home, 2 billboards) Triplexes Built 2023
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...Prime Investment Opportunity: Modern 19 Unit Complex with High Growth Potential
Prime Investment Opportunity | Available Now
Solid NOI and Cap Rate 7.2%
New Construction- 19 Units (6 Triplexes, 1 home, 2 billboards) Triplexes Built 2023
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
  1. Listed by Abé Baah • Realty Executives Associates

Amenities

  • Air Conditioning
  • Deck
  • Granite Kitchen Counter
  • Laundry
  • Parking Included
  • Private Outdoor Space
  • Stainless Steel Appliances
  • Washer / Dryer in Unit
LISTING UPDATED: 12/11/2024 09:58 AM

Property Details for 535 Old Knoxville Highway

StatusActive
MLS #1283461
Days on Market23
Taxes$2,429 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family
Year Built2023
Lot Size0.00 AC / 0 SF
CountyCocke County

Building Information for 535 Old Knoxville Highway

Stories-Residences19Year Built2023Building Size-Lot Size0.00 AC / 0 SF

Property Information for 535 Old Knoxville Highway

Summary
Location and General Information
  • City: Newport
  • County Or Parish: Cocke County - 39
  • 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
  • Latitude: 35.970527
  • Longitude: -83.208948
  • MLS Area Major: Cocke County - 39
  • MLS Area Minor: Cocke County - 39
  • Postal Code: 37821
  • State Or Province: TN
  • Location Tax Legal Info Area: Cocke County - 39
  • Remarks Misc 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
Parking
  • Attached Garage: No
  • Parking Features: On Premise Parking, Off-Street Parking, Other
  • General Property Description Driveway: Tenant Parking
  • Garage Parking Off-Street Parking: True
  • Garage Parking On Premise Parking: True
  • Garage Parking Other: True
Taxes and HOA Information
  • Association Fee: 0.0
  • Parcel Number: 046 147.00
  • Owner Expenses Taxes: True
  • Location Tax Legal Info Total Tax: 2428.83
Virtual Tour
  • Virtual Tours Count: 0
Property
Lot Information
  • Lot Size Area: 0.0
  • Lot Size Square Feet: 0.0
  • Year Built: 2023
  • Building Area Total: 18582.0
  • Living Area Source: Owner
  • Lot Size Acres: 0.0
  • Lot Size Dimensions: 159X135/150
  • General Property Description SqFt - Source: Owner
  • General Property Description Lot Dimensions: 159X135/150
  • General Property Description New Construction: Never Occupied
Property and Assessments
  • Possession: At Closing
  • Property Type Label: Multi-Family
  • Floor Plans Count: 0
  • Property Type: Multi-Family
  • Possession At Closing: True
Utilities
  • General Property Description UtilitiesMo Avg: 190.0
  • Fuel Electric: True
  • Misc Features Internet Available: True
  • Miscellaneous WasherDryer Cnctns: True
Interior and Exterior Features
Exterior Features
  • Exterior Features: Windows - Insulated, Windows - Vinyl, Doors - Energy Star, Deck, Window - Energy Star
  • Construction Materials: Vinyl, Block, Frame
  • Siding Vinyl: True
  • Exterior Features Deck: True
  • Exterior Features Doors - Energy Star: True
  • Exterior Features Window - Energy Star: True
  • Exterior Features Windows - Insulated: True
  • Exterior Features Windows - Vinyl: True
  • Misc Features Other: True
  • Miscellaneous Porch: True
Interior Features
  • Bathrooms Total Integer: 0
  • Cooling Details: Yes
  • Kitchen Appliances: Dishwasher, Microwave, Range, Refrigerator, Self Cleaning Oven, Smoke Detector
  • Flooring: Vinyl, Sustainable, Other
  • Heating: Yes
  • Cooling Ceiling Fan(s): True
  • Cooling Central Cooling: True
  • Floors Sustainable: True
  • Floors Vinyl: True
  • Heat Central: True
  • Appliances Dishwasher: True
  • Appliances Microwave: True
  • Appliances Range: True
  • Appliances Refrigerator: True
  • Appliances Self Cleaning Oven: True
  • Appliances Smoke Detector: True
  • Other Rooms Family Room: True
  • Roof Shingle: True
  • Misc Features WasherDryer Connect: True
Multi Family
Multi-Family Information
  • Number Of Units Total: 19
  • Type of Units 3 or more Bdrm Units: True
  • Type of Units Townhouse: True
  • Type of Units Unfurnished: True
Rental
Rent Information
  • General Property Description Number of Units Leased: 18.0
  • General Property Description Restrictions: No
  • Tenant Expenses Cooling: True
  • Tenant Expenses Electricity: True
  • Tenant Expenses Heating: True
  • Tenant Expenses Tenant Pays All Utilities: True

Property History for 535 Old Knoxville Highway

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 535 Old Knoxville Highway

Taxable ValueLand$12,625Additions-Total$12,625
Tax Record2023$628 ($52 / month)
Home Facts
Beds0Total Finished SqFt972 SqFtAbove Grade Finished SqFt972 SqFtStories1Lot Size129,809 SqFtStyleResidentialYear Built1945CountyCOCKEAPN015046 14700

Schools near 535 Old Knoxville Highway

This home is within Newport City School District.
Rating
School
Type
Grades
Distance
Newport Grammar School
Public - PK to 8
Calvary Baptist Tabernacle School
Private - 3 to 9
Rating
School
Distance
Newport Grammar School
PublicPK to 8

Calvary Baptist Tabernacle School
Private3 to 9

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 535 Old Knoxville Highway, Newport, TN 37821

535 Old Knoxville Highway is a multi-family home for sale in Newport, TN 37821. This property was listed for sale on November 24, 2024 by Realty Executives Associates, it's currently listed at $4,200,000. This listing's school district is Newport City School District. Nearby schools include Newport Grammar School and Calvary Baptist Tabernacle School. 535 Old Knoxville Highway is a 0-bed, 0-bath, 18,582 sqft multi-family home built in 2023.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Realty Executives Associates, Abé Baah

The information is being provided by MTRMLS, Inc. Properties marked with the MTRMLS logo are provided courtesy of the RealTracs Internet Data Exchange Program. Information is believed to be accurate but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2024 MTRMLS, Inc. All Rights Reserved. Last updated: 12/11/2024 09:58 AM