Multifamily Conversion

1500 N Cherry St, Knoxville, TN 37917

  • For Sale $8,500,000
  • 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

Contacts

broker

Guzel Lubinski

Golden Group Real Estate

Location

Getting Around

  • Walk Score ®

    38/100 Car-Dependent

  • Transit Score ®

    29/100 Some Transit

  • Bike Score ®

    29/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Knoxville, TN
  • Neighborhood North Knoxville
  • Zip Code 37917
  • Market Knoxville

Points of Interest

  • Three Rivers Rambler

    3.58 miles

  • Kroger

    1.15 miles

  • Blink

    2.01 miles

  • Quik Stop

    2.36 miles

  • Fuel City

    2.39 miles

  • Casey's

    2.94 miles

  • Casey's General Store

    3.06 miles

  • Sam's Club

    3.09 miles

  • Murphy USA

    3.18 miles

  • Shell

    3.31 miles

  • Tesla Supercharger

    7.03 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

  • Caldonia Pass

    2.10 miles

  • Jackson Avenue Lot

    2.10 miles

  • Promenade Garage

    2.11 miles

  • State Street Parking Garage

    2.13 miles

  • Value Inn

    0.89 miles

  • Crowne Plaza

    2.14 miles

  • The Sky-Lite Hotel

    2.14 miles

  • Hyatt

    2.20 miles

  • Embassy Suites by Hilton Knoxville Downtown

    2.21 miles

  • Oliver Royal Hotel

    2.25 miles

  • Residence Inn

    2.26 miles

  • Andrew Johnson Hotel

    2.37 miles

  • Hilton Knoxville

    2.39 miles

  • Marriott Knoxville

    2.45 miles

  • McDonald's

    0.64 miles

  • Pizza Palace

    0.84 miles

  • Taco Bell

    1.13 miles

  • Burger King

    1.35 miles

  • Krystal

    1.36 miles

  • KFC

    1.39 miles

  • Wendy's

    1.42 miles

  • Subway

    1.50 miles

  • Sonic

    1.55 miles

  • Ale' Rae’s GastroPub

    1.55 miles

  • East High School

    0.81 miles

  • Belle Morris Elementary School

    0.85 miles

  • Austin East High School

    0.89 miles

  • Pelissippi State Community College - Magnolia Campus

    1.16 miles

  • Brownlow Elementary School

    1.22 miles

  • Fulton High School

    1.28 miles

  • First Lutheran School

    1.35 miles

  • Vine Junior High School

    1.49 miles

  • Fair Garden Elementary School

    1.55 miles

  • McCampbell School

    1.56 miles

  • Columbus Home Children's Services

    4.23 miles

  • Wonderland Childrens Academy

    5.40 miles

  • Quality Care Sitting

    6.33 miles

  • La Petite Child Care

    9.91 miles

Frequently Asked Questions

How much does Multifamily Conversion cost?

The space currently listed for sale at Multifamily Conversion asks for $8,500,000.

What is the total square footage of Multifamily Conversion?

Multifamily Conversion totals 88,378 square feet.

When was this property built?

Multifamily Conversion was built in 1976.

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Contact Listing Broker

broker

Guzel Lubinski

Golden Group Real Estate