Buffalo Trail Apartments — Sale in Morristown, TN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Morristown, TN 37814

Investment Figures

Cap rate
8.14%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap has been selected to exclusively market for sale the Buffalo Trail Apartments in Morristown, TN. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in Northeast Tennessee. Buffalo Trail Apartments is a 17-unit community in Morristown, TN, offering a mix of one- and two-bedroom floor plans with strong value-add potential. The property benefits from proximity to major employers and industrial parks, ensuring stable rental demand, and provides convenient access to US-11E and I-81 for connectivity to Knoxville and Johnson City. Recent capital improvements of $60,000 reduce near-term maintenance risk, while opportunities remain to increase rents through interior upgrades and amenity enhancements. Classic 1935 architecture, individual utility metering, and a manageable property size further enhance operational efficiency and long-term upside. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. At no point should tenants or staff be contacted regarding the sale of the Buffalo Trail Apartments. Investment Highlights: • Located in Morristown, TN, a growing Lakeway region city with strong manufacturing and logistics industries supporting long-term rental demand. • Current ownership has invested $60,000 in capital improvements over the past 36 months. • Opportunity to increase rents through interior upgrades and enhanced amenities. • Units are individually metered for electricity and water, with tenants responsible for utilities. • 17-unit apartment community featuring a mix of one-bedroom and two-bedroom floor plans.

Market Context

This multifamily in Morristown, TN is listed for sale. It is offered at an approximate 8.1% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Morristown, TN — view the full market.

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