Multifamily Conversion

For Sale

1500 N Cherry St, Knoxville, TN 37917

This Knoxville property for sale is located at 1500 N Cherry St. The current listed sale price for Multifamily Conversion is $8,500,000. Multifamily Conversion is situated on a lot that is 3.9 acre in size.

Contacts

broker

Guzel Lubinski

Golden Group Real Estate

Property Details

  • Property Type Multi-Family
  • Property Size 88,378 SF
  • Units 186
  • Lot Size 3.9 Acre
  • Additional Rent Contact for pricing
  • Year Built 1976
  • Date Updated Sep 11, 2024
Located in the heart of East Tennessee, Knoxville sits at the crossroads of I-75, I-40 and I-81. It is the third largest city in the state, with the nine-county metro area comprising close to 900,000 residents. The subject property is just 3.4 miles or 6 minutes’ drive from everything downtown has to offer. Located off Interstate 40, this hotel is a 5-minute drive from the Tennessee River Boat Company, less than a 10-minute drive from the Discovery Center and Knoxville Zoological Gardens, and 5 miles from the University of Tennessee.

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Highlights

  • 23,631 SF hotel property offered as multifamily conversation opportunity
  • 186 studio apartment (209 SF each)
  • Zoned C-G-1 (General Commercial Zoning District) with multi-family dwelling permitted use already approved
  • Full package of required permits, plans, survey, clean Phase 1 report along with the city’s multifamily zoning– a great deal of money and time that the buyer does not have to spend!
  • Partially operational hotel with cash flow in place
  • Versatile property for multifamily real estate investors, including options for student housing or extended stay
  • Located in a high dense, growing city with high demand for apartments housing.
  • Located 5 miles from the University of Tennessee (28,000 students)
  • Just 6 minutes’ drive from everything downtown has to offer: restaurants, entertainment, shops, business establishments.
  • Friendly local government offering variety of incentives and tax programs for developers

Getting around

  • 38/100

    Walk Score ®

  • 29/100

    Transit Score ®

  • 29/100

    Bike Score ®

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Location

  • City Knoxville, TN
  • Neighborhood North Knoxville
  • Zip Code 37917
  • Market Knoxville

Points of Interest

  • Jackson Terminal

    1.99 miles

  • Three Rivers Rambler

    2.87 miles

  • Kroger

    1.15 miles

  • Pilot

    1.19 miles

  • Fuel City

    2.39 miles

  • Sam's Club

    3.09 miles

  • Murphy USA

    3.18 miles

  • Shell

    3.31 miles

  • Shell

    3.34 miles

  • Sunoco

    3.35 miles

  • Exxon

    3.40 miles

  • Marathon

    4.05 miles

  • Jackson Lot

    1.90 miles

  • Civic Auditorium and Coliseum Garage B

    1.91 miles

  • SP+

    1.91 miles

  • Civic Auditorium and Coliseum Garage A

    1.98 miles

  • Civic Auditorium and Coliseum Garage C

    2.00 miles

  • Marble Alley Lofts Garage

    2.05 miles

  • Jackson Avenue Lot

    2.10 miles

  • Promenade Garage

    2.11 miles

  • State Street Parking Garage

    2.13 miles

  • Market Square Parking Garage

    2.25 miles

  • Embassy Suites Hilton

    1.99 miles

  • Crowne Plaza

    2.14 miles

  • Hyatt

    2.20 miles

  • Embassy Hotel

    2.22 miles

  • Embassy Suites by Hilton

    2.22 miles

  • Oliver Royal Hotel

    2.25 miles

  • The Oliver Hotel

    2.26 miles

  • Residence Inn by Marriott

    2.26 miles

  • Andrew Johnson Hotel

    2.37 miles

  • Hilton Knoxville

    2.39 miles

  • Mast General Store

    2.13 miles

  • Kroger

    2.14 miles

  • The Market at Union & Gay

    2.18 miles

  • Big Lots

    2.79 miles

  • Food City

    3.06 miles

  • Kroger

    3.23 miles

  • Walmart Supercenter

    3.23 miles

  • ALDI

    3.38 miles

  • Food City

    3.46 miles

  • Publix

    3.71 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Guzel Lubinski

Golden Group Real Estate