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Sold for $325,000
  • $325,000

    116 S Gay St APT 706, Knoxville, TN 37902

    1beds
    580sqft
    Condominium
    Built in 1920
    -- sqft lot
    $329,000 Zestimate®
    $560/sqft
    $1,734 Estimated rent

    Home value

    $329,000

    $309,000 - $349,000

    $1,734/mo

    Zestimate® history
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    What's special

    Experience modern urban living in this beautifully updated 1-bedroom, 1-bath condo at Sterchi Lofts. Situated on the 7th floor, this bright, airy unit offers a Southern exposure looking down the center of the city. Watch parades, Christmas lights, and downtown festivals like the Rossini Festival right from your living room. Enjoy your morning coffee looking out at the Smokies in the horizon. Originally the headquarters of Sterchi Brothers Furniture—the largest wholesale furniture distributor in the Southeast—this historic building was transformed into loft-style residences in 2002 and underwent further upgrades from 2016 to 2022. During the renovation, this unit was updated with: · Energy-efficient appliances · Quartz countertops & deep stainless steel sink · Commercial-grade kitchen faucet · Designer light fixtures · Updated HVAC system · Modern plumbing fixtures · Luxurious Roca (Spanish) tile in the shower. With tall ceilings, expansive windows, and an open-concept design, this condo perfectly blends historic charm with contemporary style. Residents of Sterchi Lofts also enjoy premium amenities, including a 24-hour fitness center, additional rentable storage, and a rooftop patio with stunning views of the Knoxville skyline and the Great Smoky Mountains. Knoxville was recently ranked among the most desirable cities to live in by U.S. News & World Report in 2024, and downtown continues to thrive. With a new baseball stadium set to open in 2025 and the upcoming Neyland Entertainment District transforming the riverfront, now is the perfect time to invest in this vibrant community. Walk to award winning restaurants, the Farmers' Market, several gyms, coffee shops, and shows at the Tennessee and Bijou Theaters. Drop by the art galleries and local bookstore down the block or bike to the University of Tennessee and IJAMS Nature Center. 📍 Don't miss this rare opportunity—schedule your showing today! Unit is not occupied and is easy to view

    Zillow last checked:

    Listing updated:

    Listed by:

    Joe Consumo 865-386-3406,

    Terminus Real Estate, Inc.

    Bought with:

    Kimberly Dixon Hamilton, 290479

    Downtown Realty, Inc.

    Source: East Tennessee Realtors,MLS#: 1310509MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 1
    • Bathrooms: 1
    • Full bathrooms: 1
    Heating
    • Central, Electric
    Cooling
    • Central Air
    Appliances
    • Included: Dishwasher, Disposal, Microwave, Range, Self Cleaning Oven
    Features
    • Elevator, Eat-in Kitchen
    • Flooring: Other
    • Windows: Aluminum Frames
    • Basement: None
    • Has fireplace: No
    • Fireplace features: None
    Interior area
    • Total structure area: 580
    • Total interior livable area: 580 sqft

    Property

    Parking
    • Parking features: On Street, Off Street, Other
    • Has uncovered spaces: Yes
    Features
    • Has view: Yes
    • View description: Mountain(s), City
    Lot
    • Size: 435 Square Feet
    • Features: Other
    Details
    • Parcel number: 094EG04302T

    Construction

    Type & style
    • Home type: Condo
    • Architectural style: Historic
    • Property subtype: Condominium
    • Attached to another structure: Yes
    Materials
    • Steel, Block, Brick
    Condition
    • Year built: 1920

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & HOA

    Community
    • Features: Sidewalks
    • Security: Smoke Detector(s)
    • Subdivision: Sterchi Lofts Condos Unit 706
    HOA
    • Has HOA: Yes
    • Services included: Pest Control, Fire Protection, Maintenance Structure, Insurance, Trash, Some Amenities, Maintenance Grounds
    • HOA fee: $154 monthly
    Location
    • Region: Knoxville

    Financial & listing details

    • Price per square foot: $560/sqft
    • Tax assessed value: $200,600
    • Annual tax amount: $779
    • Date on market: 9/26/2025
    • Listing terms: Alternative,Cash,Conventional

    Price history

    DateEventPrice
    11/10/2025Sold$325,000-4.1%$560/sqft
    Source: East Tennessee Realtors #1310509 Report a problem
    9/26/2025Listing removed$1,750$3/sqft
    Source: Zillow Rentals Report a problem
    9/26/2025Pending sale$339,000$584/sqft
    Source: East Tennessee Realtors #1310509 Report a problem
    8/1/2025Listed for sale$339,000$584/sqft
    Source: East Tennessee Realtors #1310509 Report a problem
    7/31/2025Listing removed$339,000$584/sqft
    Source: East Tennessee Realtors #1307094 Report a problem
    7/29/2025Listed for rent$1,750+2.9%$3/sqft
    Source: Zillow Rentals Report a problem
    7/3/2025Listed for sale$339,000$584/sqft
    Source: East Tennessee Realtors #1307094 Report a problem
    7/1/2025Listing removed$339,000$584/sqft
    Source: East Tennessee Realtors #1291409 Report a problem
    4/27/2025Price change$339,000-4.5%$584/sqft
    Source: East Tennessee Realtors #1291409 Report a problem
    2/28/2025Listed for sale$355,000+18.7%$612/sqft
    Source: East Tennessee Realtors #1291409 Report a problem
    3/5/2024Listing removed--
    Source: Zillow Rentals Report a problem
    2/24/2024Listed for rent$1,700$3/sqft
    Source: Zillow Rentals Report a problem
    8/4/2022Sold$299,000+68%$516/sqft
    Source: Public Record Report a problem
    4/15/2019Sold$178,000$307/sqft
    Source: East Tennessee Realtors #1076130 Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$779 $50,150
    2024$779 $50,150
    2023$779 $50,150
    2022$779 -9.9%$50,150 +22.8%
    2021$865 $40,825 -75%
    2020$865 $163,300
    2019-- --
    Find assessor info on the county website

    Neighborhood: Old City

    Nearby schools

    GreatSchools rating
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    Estimated market value
    $329,000
    Get a cash offer in 3 minutes
    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $329,000