1412 Knob Creek Road

Johnson City, TN 37604

Passive income or owner operator! This portfolio consists of 8 units of multifamily being rented out at $1250 per month, two bed, one bath, in newly renovated units, as well as adjacent Commercial building with new roof and renovated exterior. Proforma NOI with Commercial space at $10/NNN will be $126,720, leaving proforma cap rate at 7.9% cap rate. The Old Norris Bicycle building, and adjacent quadplexes are being sold together ONLY! This is your opportunity to diversity your investments with a commercial piece, or put your business into a 4748 sq ft Commercial space all your own, and keep the apartments as rentals. Subdividing of apartments from new condos is underway, and will put the 8 units on approximately one acre of their own land, more or less, with large back yard area. Massive renovations have taken place, and apartments are being re-filled at this time, so see agent for newest and latest rent roll as apartments are completed. Gross income is based on only half of the units filled, as the final 4 are being finished up. Proforma gross income will be $114,000 per year. Lending would be based on proforma at this time. Units do have washer dryer hook up in each unit. Apartments have been completely renovated throughout the exterior, including siding, roof, plumbing, damaged walls, new kitchens, and brand new and beautiful decking. Location is prime, central to town, near shopping and schools, and will remain a conveniently located and beautiful corridor for years to come! Details available upon request from qualified buyers; all info to be verified by buyers/buyers agent. R# 1886

Listing courtesy of Jay Goodson of REMAX Checkmate, Inc. Realtors



Listing information is provided by Participants of the Tennessee Virginia Regional MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2026, Tennessee Virginia Regional MLS.
Data last updated at: 2026-02-02 02:13 PM UTC