1215 Shields Ferry Rd, Morristown, TN 37814
$748,700
Property Type:
Multi-Family
Square Footage:
5,360
Lot Size (sq. ft.):
17,860
Status:
Closed
Current Price:
$748,700
List Date:
10/03/2025
Last Modified:
1/15/2026
Description
RARE EIGHT PLEX IN MORRISTOWN - FULLY RENTED - NEW ROOF - 7.2 CAP RATE!!!
This fully rented 8 unit complex offers a strong investment opportunity in a prime location, just minutes away from Walmart and other essential amenities that tenants desire. Built in 1976, the property has been well maintained and is ready for its next owner. This property has undergone recent updates including a new roof with 6 inch gutters, new windows, fresh appliances and unit flooring. Two units have ductless mini splits and the rest have PTAC systems and all units come with washer/dryer connections, stoves and refrigerators. Tenants pay a flat fee for Seller provided WiFi and water and additionally tenants pay their own electric and trash. With its location near major retail and dining options, and access to highways and public services, this 8 unit is an ideal addition to your portfolio. No sign on property and we respectively request that you do not disturb the tenants.
More Information MLS# 1317448
Location, Tax & Legal Info
Area: Hamblen County - 38
City/County Code: City Limits
Total Tax: 1971
Contract Info
Auction Y/N: No
Listing Price: 775000
Current Price: $748,700
Status: Closed
Listing Date: 2025-10-03
General Property Description
Lot Dimensions: 125X119
Lot Size SqFt: 17860
# Units Leased: 8
Utilities/Mo Avg: 280
Property Status: N/A
Driveway: Paved
Lease Information: 4 - Studio + 1 BA $725-850
4- 1BR + 1BA $725-825
SqFt - Total (Aprox): 5360
Number of Units: 8
Year Built: 1976
Remarks & Misc
Directions: Take I-40 East To Exit 421 North to Bristol. Take exit 8 to Morristown, 0.5 miles turn right onto Davy Crockett Pkwy to Cumberland Gap Park, in 2 miles turn left onto Old Highway 25E, in 5 miles turn left onto Shields Ferry Rd and keep left. In 150 ft the eight-plex will be on your left.
Public Remarks: RARE EIGHT PLEX IN MORRISTOWN - FULLY RENTED - NEW ROOF - 7.2 CAP RATE!!!
This fully rented 8 unit complex offers a strong investment opportunity in a prime location, just minutes away from Walmart and other essential amenities that tenants desire. Built in 1976, the property has been well maintained and is ready for its next owner. This property has undergone recent updates including a new roof with 6 inch gutters, new windows, fresh appliances and unit flooring. Two units have ductless mini splits and the rest have PTAC systems and all units come with washer/dryer connections, stoves and refrigerators. Tenants pay a flat fee for Seller provided WiFi and water and additionally tenants pay their own electric and trash. With its location near major retail and dining options, and access to highways and public services, this 8 unit is an ideal addition to your portfolio. No sign on property and we respectively request that you do not disturb the tenants.
Income/Expenses
Gross Annual Income: 79788
Annual Oper Expenses: 16144
Property Sub-Type
Apartment: 1
Construction
Block: 1
Frame - Brick: 1
Type of Units
Efficiency Unit: 1
1 Bedroom Unit: 1
Garden: 1
Unfurnished: 1
Siding
Brick: 1
Other: 1
Sale Includes
Building and Land: 1
Miscellaneous
Washer/Dryer Cnctns: 1
Cooling
Wall Cooling: 1
Zoned: 1
Floors
Laminate: 1
Vinyl: 1
Garage/Parking
On Premise Parking: 1
Tenant Expenses
Electricity: 1
Trash Collection: 1
Other: 1
Owner Expenses
Exterior Maintenance: 1
HVAC Maintenance: 1
Insurance: 1
Taxes: 1
Water: 1
Fuel
Electric: 1
Heat
Zoned: 1
Other: 1
Appliances
Range: 1
Refrigerator: 1
Other Rooms
Bedroom Main Level: 1
Roof
Composition: 1
Exterior Features
Patio: 1
Misc Features
Washer/Dryer Connect: 1
New Financing
Cash: 1
New Loan: 1
Showing
See Agent Instructns: 1
Location Tax Legal Info
House #: 1215
Street Name: Shields Ferry
St Suffix: Rd
State/Province: TN
Zip Code: 37814
PIN #: 033D I 011.02
Subdivision: Hall Ray D Prop
Geo Lat: 36.227084
Geo Lon: -83.295219
Status Change Info
Status Change Date: 2026-01-15
Under Contract Date: 2025-10-18
Sold Date: 2026-01-15
Sold Price: $748,700
IncomeExpenses
Net Operating Income: 55644
Property Features
Property Sub-Type: Apartment
Type of Units: Efficiency Unit; 1 Bedroom Unit; Garden; Unfurnished
Sale Includes: Building and Land
Floors: Laminate; Vinyl
Tenant Expenses: Electricity; Trash Collection; Other
Owner Expenses: Exterior Maintenance; HVAC Maintenance; Insurance; Taxes; Water
Fuel: Electric
Heat: Zoned; Other
Cooling: Wall Cooling; Zoned
Appliances: Range; Refrigerator
Construction: Block; Frame - Brick
Roof: Composition
Siding: Brick; Other
Exterior Features: Patio
Misc Features: Washer/Dryer Connect
Other Rooms: Bedroom Main Level
Miscellaneous: Washer/Dryer Cnctns
New Financing: Cash; New Loan
Showing: See Agent Instructns
Documents
Disclaimer ›
Listing Office:
Goldman Partners Realty, LLC
IDX
Office Phone: 865-444-3240
Last Updated: January - 15 - 2026
The data relating to real estate for sale on this Web Site comes from the IDX Program of the Knoxville Area Association of REALTORS® Multiple Listing Service. © Copyright 2020 All rights reserved.
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