ParkingOn Premise Parking, Off-Street Parking, Other
Year BuiltNew Const., 2023
HeatingCentral, Electric
CoolingCentral Air, Ceiling Fan(s)
MLS #1283461
StatusActive
About 535 Old Knoxville Hwy
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
Exterior: Windows - Insulated, Windows - Vinyl, Doors - Energy Star, Deck, Window - Energy Star
Parking Information:
Attached Garage: No
Parking: On Premise Parking, Off-Street Parking, Other
Utilities
Utilities Information:
Heating: Central, Electric
Cooling: Central Air, Ceiling Fan(s)
Other
Directions Information:
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
Price Information
Listing Price Info
Price Summary:
List Price: $4,200,000
Price Per SqFt: $226/SqFt
Tax Information:
Annual Amount: $921
Tax Year: 2020
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Newport, TN.
This property is $3.9M more than the Median Sold Price and $53/SqFt more than other homes in Newport, TN.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: East Tennessee REALTORS® MLS
MLS Number: #1283461
Listing Office:
Office Name: Realty Executives Associates
Office Phone: (865) 588-3232
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.
The Knoxville Area Association of REALTORS® Multiple Listing Service does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.
Information deemed reliable but not guaranteed. This information is updated daily, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
6
/10
Dandridge Elementary School
780 Highway 92 S
Distance between this listing and this school12.92 miles
Public District Grades PK-5
6
/10
Witt Elementary School
4650 S Davy Crockett Pkwy
Distance between this listing and this school13.56 miles
Public District Grades PK-5
4
/10
McDonald Elementary School
8120 McDonald Rd
Distance between this listing and this school14.22 miles
Public District Grades PK-5
Nearby Schools
8
/10
Newport Grammar School
301 College St
Distance between this listing and this school1.33 miles
Public District Grades PK-8
3
/10
Northwest Elementary School
344 Woodson Rd
Distance between this listing and this school2.23 miles
Public District Grades PK-8
5
/10
Edgemont Elementary School
375 Carson Springs Rd
Distance between this listing and this school2.65 miles
Public District Grades PK-8
Nearby Schools
4
/10
Cocke County High School
216 Hedrick Dr
Distance between this listing and this school0.86 miles
Public District Grades 9-12
4
/10
Cosby High School
3318 Cosby Hwy
Distance between this listing and this school8.97 miles
Public District Grades 9-12
7
/10
Jefferson County High School
115 W Dumplin Valley Rd
Distance between this listing and this school15.47 miles
The neighbors living near this home have an average income of $14,458. Typical income of Newport, TN residents is less than $35k annually. Typical family type is single, no kids. The majority of residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 535 Old Knoxville Hwy
What is the listing price of this property?
The listing price of 535 Old Knoxville Hwy property is $4,200,000.
What type of property is this?
The property 535 Old Knoxville Hwy is a house located in Newport, Tennessee, 37821.
Is this property for sale now?
Active Listing: 535 Old Knoxville Hwy is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2020 is $921 (source: MLS/based on county public records data).
What is the square footage of this property?
The property 535 Old Knoxville Hwy is 18,582 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 535 Old Knoxville Hwy is 2023.
Interested in 535 Old Knoxville Hwy? Let's connect.
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This home is located at 535 Old Knoxville Hwy in Newport, TN and zip code 37821. This 18,582 square foot home was built in 2023. It has been listed on Rocket Homes since November 24, 2024 and is currently priced at $4,200,000.
Newport, TN housing market in December 2024 saw over 2 listings sold above listed price, more than 0 sold at listed price and over 5 sold below. In December 2024 in Newport, TN there were 9.5% more homes for sale than in November 2024. While the average time on the market in December 2024 was 28 days, the median list price was $239,200.
From Rocket Homes Real Estate and based on county public records data.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms. 
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