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2215 Buffalo Tr, Morristown, 37814
Priced At: $1,200,000
Property Details for ID: 1360218
SqFt: 9,503
Price SqFt: $126
Total Bedrooms: ********
Full Baths: ******** / Half Baths: ********
MLS Status: Active
Property Type: MultiFamily
On Market Date: 2026-10-27T19:03:20Z
Public Remarks: VALUE ADD OPPORTUNITY - 17 UNITS - 8.3 CAP RATE - $1.2 MILLION - MORRISTOWN TN Buffalo Trail Apts are well located on a 2 acre corner lot offering plenty of on-site parking and great road signage with a traffic count of nearly 10,000 cars per day. Additionally, all units are separately metered for water and electric with tenants paying all charges. Buffalo Trail is conveniently located just steps from Walmart, local shops, popular restaurants, Cherokee Lake, US-11E, and I-81. Current ownership has invested over $60,000 in capital improvements over the past 36 months, with additional upside available through interior upgrades, enhanced amenities, and increased rents. With a manageable 17-unit size, established local demand, and opportunities to improve rents, Buffalo Trail Apartments presents an attractive value-add investment in East Tennessee. All showings by appointment only.
Schools Information
Sorry, school information is not available for this listing.Building Description
SqFt (Total): 9,503
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Annual Operating Expenses: 41,200
Net Operating Income: 99,470
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Up Coming Open Houses
Directions
Take I-40 East To Exit 421 North to Bristol. Take exit 8 to Morristown, Merge onto US-25E N, in 9.3 Miles. Make a left on Cherokee Park and then an immediate left onto Buffalo Trail. In approximately .9 miles, apts will be on your right at the NW corner of Buffalo Trace and Wagon Wheel Drive.
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This is your Principal & Interest Payment only - you will still have to add HomeOwners Insurance and Taxes for a Total Monthly Payment. The Loan Amount Figure is based on a 20% down payment, Private Mortgage Insurance (PMI) is required with less than a 20% down payment. I can provide you with names of Mortgage Loan Officers that will provide you more details on your payment and total down payment requirements.
Four Reasons to Use BJ Swinehart
Buying or Selling real estate should be fun and simple. With me, that's exactly what you can expect. I will strive to make each and every interaction a professional and pleasant experience!