Apartment Acquisitions · Knoxville
Sell Your Commercial Property In Knoxville, TN
Skyline Capital Investments buys commercial apartment buildings of 5+ units in Knoxville and across Knox County — listed or off-market, stabilized or value-add. Get clear feedback on your deal, typically within 48 hours.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Knoxville Submarkets: West Knoxville · North Knoxville · Maryville · Oak Ridge — Knox County, TN
Why Knoxville
Why We Buy Multifamily In Knoxville
Knoxville is a majority-renter city. Renters occupy 53.4% of its 86,263 occupied homes, per the Census Bureau's ACS 2020-2024, against 33.1% for Tennessee. Median gross rent is $1,191 a month, and 33.8% of Knoxville housing units sit in buildings of five or more units.
If you plan to sell commercial property in Knoxville, TN, buyers will price two local tax facts first. Tennessee assesses buildings with two or more rental units at 40% of appraised value. Knox County and City of Knoxville 2025 rates total $3.7096 per $100 of assessed value.
Three demand drivers stand out. The University of Tennessee enrolled a record 40,421 students in fall 2025, and Oak Ridge National Laboratory had 7,427 workers in FY 2025. Owners who sell multifamily property in Knoxville can also point to newcomers: 15,885 Knox County residents had moved from another state within the prior year.
This profile covers who rents in Knoxville, HUD FY2027 rents, apartment stock and Knox County taxes. It closes with Tennessee landlord rules and what they mean for a sale.
University of Tennessee enrollment
The University of Tennessee, Knoxville enrolled a record 40,421 students in fall 2025. More than 7,100 were first-year students, per a university announcement dated September 5, 2025.Oak Ridge National Laboratory
ORNL, in Oak Ridge, had 7,427 workers and a $2.8 billion budget in FY 2025. Ninety-two percent of its employees live in the Knoxville MSA, per its economic impact report.In-migration to East Tennessee
In ACS 2020-2024, 15,885 Knox County residents had moved from another state within the prior year. Another 14,728 had moved from a different Tennessee county, per table B07001.Our Buy Box
What We Buy In Knoxville
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Knoxville Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Knoxville
Renters occupy 53.4% of occupied homes in Knoxville, per ACS 2020-2024 table B25003. Knox County's renter share is 34.8%, and Tennessee's is 33.1%.
Knoxville holds 65.7% of Knox County's 70,029 renter households. Knoxville has 195,185 residents, per table B01003.
Median household income in Knoxville is $54,039 in ACS 2020-2024, per table B19013. Knox County's median is $74,222, and Tennessee's is $69,595. Knoxville households earn 22.4% less than the state median.
The University of Tennessee, Knoxville enrolled a record 40,421 students in fall 2025, per a university announcement of September 5, 2025. More than 7,100 of them were first-year students.
Oak Ridge National Laboratory sits in Oak Ridge, outside Knox County. ORNL had 7,427 workers and a $2.8 billion budget in FY 2025, per its economic impact report. Ninety-two percent of ORNL employees live in the Knoxville MSA.
Knox County drew 15,885 residents from other states in the year before they were surveyed, per ACS 2020-2024 table B07001. Another 14,728 moved in from other Tennessee counties.
Rents and affordability in Knoxville
Median gross rent in Knoxville is $1,191 a month in ACS 2020-2024, per table B25064. Knox County's median is $1,261, and Tennessee's is $1,189.
A median Knoxville rent equals $14,292 a year, or 26.4% of the $54,039 median household income. In Knoxville, 50.3% of renter households pay 30% or more of income on rent, per table B25070. Another 24.8% pay 50% or more.
HUD places Knox County in the Knoxville, TN HUD Metro FMR Area. HUD's FY2027 fair market rents took effect October 1, 2026, per HUD fair market rent data.
| Unit size | HUD FY2027 FMR, monthly |
|---|---|
| Efficiency | $1,171 |
| One bedroom | $1,178 |
| Two bedroom | $1,475 |
| Three bedroom | $1,844 |
| Four bedroom | $2,122 |
HUD's FY2027 two-bedroom rent of $1,475 sits $284 above Knoxville's $1,191 ACS median gross rent. When you sell commercial real estate in Knoxville, TN, buyers will set in-place rents against that HUD figure.
Apartment stock in Knoxville
Knoxville has 32,586 homes in buildings of five or more units, per ACS 2020-2024 table B25024. That is 33.8% of its 96,441 housing units. Tennessee's five-plus share is 14.1%.
Buildings of 10 to 19 units hold the most Knoxville homes, 10,541. Buildings of 5 to 9 units hold 7,776, those of 20 to 49 hold 5,840, and those of 50 or more hold 8,429.
In Knoxville, 58.9% of housing was built before 1980, per table B25034. The median year built is 1974, per table B25035.
Rental vacancy in Knoxville is 6.2% in ACS 2020-2024 profile table DP04. Knox County's rental vacancy rate is 5.5% in the same table.
Knoxville's median owner-occupied home value is $239,700, per table B25077. Tennessee's is $286,700, so Knoxville values run 16.4% lower.
Property taxes in Knox County
Knoxville apartment buildings are assessed at 40% of appraised value. The Tennessee Comptroller classes dwelling property with two or more rental units as industrial and commercial property. Residential property is assessed at 25%.
Knox County's 2025 rate is $1.5540 per $100 of assessed value, per the Tennessee Comptroller. The 2025 City of Knoxville rate is $2.1556. Together they total $3.7096 per $100 inside Knoxville.
Knoxville City Council kept its $2.1556 rate for FY2026-27 on May 26, 2026, per the City of Knoxville. Knox County's FY2027 budget summary holds its rate at $1.5540. A Knoxville building appraised at $2,000,000 works out as follows.
- Assessed value: $2,000,000 x 40% = $800,000.
- Knox County: $800,000 x 1.5540 / 100 = $12,432.00.
- City of Knoxville: $800,000 x 2.1556 / 100 = $17,244.80.
- Total: $29,676.80 a year, or 1.48% of appraised value.
Nearby cities carry different totals in the Comptroller's 2025 data. Maryville's combined rate is $3.22 per $100, with Blount County at $1.59. Oak Ridge totals $2.78496 on its Anderson County side.
Knoxville taxes are due October 1 and become delinquent March 1, per the City of Knoxville. The Knox County Board of Equalization meets every June, per the Property Assessor.
Tennessee's realty transfer tax is $0.37 per $100 of purchase price, per the Department of Revenue. The grantee pays it to the county Register of Deeds, per the same department. On a $2,000,000 sale the tax is $7,400. If you sell commercial property in Knoxville, TN, that cost falls on the buyer as grantee.
Landlord rules for Knoxville owners
Tennessee's Uniform Residential Landlord and Tenant Act covers Knoxville leases. Under section 66-28-102(a), it applies in counties above 75,000 people in the 2010 federal census. Knox County counted 432,226 residents in the 2010 Census.
Section 66-28-102(e) says the Act occupies and preempts the entire field of landlord-tenant legislation in covered counties. Tennessee's section 66-35-102 bars local governments from controlling the rent charged for private residential or commercial property.
Tennessee's section 66-28-301 sets no cap on security deposits. Deposits must sit in an account used only for that purpose, and tenants must be told its location. A landlord who skips the account or the damage listing cannot keep any part of the deposit.
For unpaid rent, section 66-28-505 ends the lease if the tenant does not pay within 14 days of written notice. A repeat breach within six months needs only 7 days' written notice. Month-to-month tenancies end on 30 days' written notice under section 66-28-512, and week-to-week tenancies on 10 days.
Buyers reviewing a Knoxville rent roll ask for deposit account records and copies of notices served. Having those files ready speeds up selling commercial property in Knoxville.
What it means for a Knoxville apartment owner
Knoxville pairs a 53.4% renter share with a 40% assessment ratio on rental buildings. Its 2025 combined rate is $3.7096 per $100.
Skyline Capital Investments buys 5+ unit apartment buildings across Knoxville, including West Knoxville and North Knoxville, and in Maryville and Oak Ridge. If you plan to sell your apartment building in Knoxville, test value with our cap rate calculator against the $29,676.80 tax example above.
Owners ready to sell commercial property in Knoxville, TN can request an offer through our sell my apartment building page. Send the address, unit count and current rent roll.
Before You Sell
What Shapes A Knoxville Offer
More about selling in Tennessee →Investing in Knoxville? See apartment syndications in Knoxville →
- Tennessee assesses Knoxville buildings with two or more rental units at 40% of appraised value, not the 25% ratio used for residential property.
- Anyone who wants to sell commercial real estate in Knoxville, TN should know the buyer, as grantee, pays Tennessee's $0.37 per $100 transfer tax.
- In Knoxville, 58.9% of housing units were built before 1980 and the median year built is 1974, per ACS 2020-2024 tables B25034 and B25035.
- Knoxville City Council kept the city rate at $2.1556 per $100 for FY2026-27, the lowest rate since 1974, per the City of Knoxville.
Seller Guides
Selling A Building In Knoxville
Learn More
Taxes & Rules For Knoxville Property
The Tennessee rules that shape any deal in Knoxville: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Knoxville Seller FAQ
How do I sell commercial property in Knoxville, TN without listing it?
Send the address, unit count and a current rent roll to Skyline Capital Investments. We buy 5+ unit apartment buildings across Knoxville as they stand, so repairs or lease-up are not needed first. Our offer reflects in-place rents and Tennessee's 40% assessment ratio on rental buildings. It also reflects the 2025 combined Knox County and Knoxville rate of $3.7096 per $100 of assessed value.
What are property taxes on a $2 million apartment building in Knoxville?
Tennessee assesses property with two or more rental units at 40% of appraised value, so a $2,000,000 building is assessed at $800,000. The 2025 Knox County rate is $1.5540 per $100 and the City of Knoxville rate is $2.1556, per the Tennessee Comptroller. Together that is $29,676.80 a year, or 1.48% of appraised value.
Does Knoxville have rent control?
No. Tennessee Code 66-35-102 bars any local government from enacting or keeping a measure that controls the rent charged for private residential or commercial property. Section 66-28-102(e) also says the Uniform Residential Landlord and Tenant Act preempts the entire field of landlord-tenant legislation in covered counties. Knox County is covered because it had 432,226 residents in the 2010 Census.
What closing taxes apply when I sell commercial real estate in Knoxville, TN?
Tennessee's realty transfer tax is $0.37 per $100 of purchase price. On a $2,000,000 sale that is $7,400, and the grantee pays it to the county Register of Deeds. Tennessee also taxes recorded mortgage debt at $0.115 per $100, with the first $2,000 exempt, per the Tennessee Department of Revenue. The debtor pays that mortgage tax.
How fast can I end a Knoxville lease for unpaid rent?
Under Tennessee Code 66-28-505, the lease ends if the tenant does not pay within 14 days after receiving written notice. If the same breach recurs within six months, 7 days' written notice is enough. Month-to-month tenancies end on 30 days' written notice under section 66-28-512. Keep copies of every notice and proof of how it was delivered.
Does Oak Ridge National Laboratory matter to Knoxville apartment owners?
ORNL sits in Oak Ridge, outside Knox County, but its workforce lives across the region. It had 7,427 workers in FY 2025, and 92% of employees live in the Knoxville MSA. Its report puts the lab's Knoxville MSA impact at $3.3 billion and 15,645 jobs. Owners who sell multifamily property in Knoxville can cite that employment base to buyers.
Do I need to fix up my Knoxville building before selling?
No. We price in deferred maintenance, vacancy, and below-market rents ourselves, so you can sell the property as it stands.
How does a sale to you work in Knox County?
Send the address, unit count, and any financials. We give feedback, then a written letter of intent if it fits, followed by diligence and a closing date that works for you.
Can I sell rental property in Knoxville with tenants in place?
Yes. We buy apartment buildings with tenants in place and keep existing leases intact. As a commercial real estate buyer focused on 5+ unit properties, we underwrite the current rent roll as it stands.
Do I need a broker to sell my apartment building in Knoxville?
No. You can work with us directly, or your broker can bring the deal to us. Either way, conversations stay confidential.
Submit A Deal
Have A Property In Knoxville?
A few details are enough to start. We respond to every Knoxville submission, including off-market and pocket listings.
