Student Housing

303 Flats

303 W Blount Avenue, Knoxville, TN 37920

Listing Price: $46,000,000

Cap Rate
5.37%
Number of Units
138
Price/Unit
$333,333
Price/Gross SF
$274.52
Gross SF
167,565

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire 303 Flats in Knoxville, Tennessee. 303 Flats is a purpose-built student housing community located less than a mile from campus in the heart of Knoxville and is currently 98 percent leased for the 2020/2021 school year. Directly across the river from campus, the location affords incredible views of the Tennessee River as well as campus. Adjacent to the property is Henley Street Bridge which provides easy access to the University of Tennessee with 30,559 students. Not only is the enrollment growing, its record breaking! Up 3.7 percent over last year and 8.9 percent compared to 5 years ago, University of Tennessee has the largest enrollment in school history. Built in 2018, 303 Flats is comprised of 137 units and 431 beds. The property has 100 percent bed / bath parity which has become paramount to renters in the days of COVID. As things begin to shift back to normal, students will appreciate the abundance of amenities on-site. The property offers a resort-style pool, 24 HR state of the art fitness center with a yoga and stretching studio as well as a variety of group study, computer, and playrooms. Pet friendly, the property also offers a pet wash station and dog park.

Investment Highlights

  • Property has solid demand from University
  • Record breaking increase in enrollment of 30,566 students
  • Less than a mile from campus
  • Second to none views of Tennessee River and campus
  • 100 percent bed-to-bath parity
  • 2018 build with 138 units and 431 beds

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    License(s): TN: 307629

    Tennessee

Listing Price: $46,000,000

Cap Rate
5.37%
Number of Units
138
Price/Unit
$333,333
Price/Gross SF
$274.52
Gross SF
167,565

Investment Highlights

  • Property has solid demand from University
  • Record breaking increase in enrollment of 30,566 students
  • Less than a mile from campus
  • Second to none views of Tennessee River and campus
  • 100 percent bed-to-bath parity
  • 2018 build with 138 units and 431 beds

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire 303 Flats in Knoxville, Tennessee. 303 Flats is a purpose-built student housing community located less than a mile from campus in the heart of Knoxville and is currently 98 percent leased for the 2020/2021 school year. Directly across the river from campus, the location affords incredible views of the Tennessee River as well as campus. Adjacent to the property is Henley Street Bridge which provides easy access to the University of Tennessee with 30,559 students. Not only is the enrollment growing, its record breaking! Up 3.7 percent over last year and 8.9 percent compared to 5 years ago, University of Tennessee has the largest enrollment in school history. Built in 2018, 303 Flats is comprised of 137 units and 431 beds. The property has 100 percent bed / bath parity which has become paramount to renters in the days of COVID. As things begin to shift back to normal, students will appreciate the abundance of amenities on-site. The property offers a resort-style pool, 24 HR state of the art fitness center with a yoga and stretching studio as well as a variety of group study, computer, and playrooms. Pet friendly, the property also offers a pet wash station and dog park.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    License(s): TN: 307629

    Tennessee

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