Welcome to desirable DOWNTOWN LIVING in the historic JC Penney Building! This iconic building was revitalized in 2016 making it a vibrant mixed-use development. This incredible location is the heart of Downtown Knoxville. Gay Street is centrally located between the Theatre District, Tennessee River, Market Square, and the Old City which offers easy access to restaurants, bars, shopping, theaters, and a multitude of local events, giving you the complete urban experience. The building features 17 residences, along with Maple Hall Bowling Lanes and Babalu Tacos & Tapas. This beautifully designed 2 BR, 2 BA residence with 1,761 SF includes a spacious open concept with large windows, high ceilings, gleaming hardwoods, exposed brick walls, original beams, stylish cabinetry, ample concrete countertops, and stainless steel appliances. The owner's suite has luxury features such as tiled walk-in shower, soaker tub with marble tile surround, walk-in closet and double floating vanity. This remarkable loft has been completely renovated, and combines modern and semi-industrial styles while preserving its historic charm. This is not only a fantastic investment, it's a lifestyle endeavor. Public parking is available on street, and in the Promenade Garage directly behind the building, as well as in the nearby city-owned State Street Garage (parking is free on nights and weekends). Learn more at https://www.jcpenneyboa.com.
Sold for $995,000 on 06/16/25
$995,000
416 S Gay St APT 303, Knoxville, TN 37902
2beds
1,761sqft
Condominium
Built in 1905
-- sqft lot
$998,200 Zestimate®
$565/sqft
$3,343 Estimated rent
What's special
Zillow last checked: 7 hours ago
Listing updated: June 17, 2025 at 05:36am
Listed by:
Sara Price 865-999-7272,
The Price Agency, Realty Executives
Bought with:
Buck Young, 343466
Gables & Gates, REALTORS
Source: East Tennessee Realtors,MLS#: 1297385

Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Heat Pump, Natural Gas, Electric
Cooling
- Central Air, Ceiling Fan(s)
Appliances
- Included: Gas Cooktop, Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Self Cleaning Oven, Washer
Features
- Walk-In Closet(s), Kitchen Island, Breakfast Bar, Eat-in Kitchen
- Flooring: Other, Hardwood, Tile
- Windows: Windows - Vinyl, Insulated Windows
- Basement: None
- Has fireplace: No
- Fireplace features: None
Interior area
- Total structure area: 1,761
- Total interior livable area: 1,761 sqft
Property
Parking
- Parking features: On Street, Other
- Has uncovered spaces: Yes
Features
- Has view: Yes
- View description: City
Lot
- Size: 1,742 sqft
- Features: Other
Details
- Parcel number: 095IA03701K
Construction
Type & style
- Home type: Condo
- Architectural style: Other,Contemporary,Historic
- Property subtype: Condominium
- Attached to another structure: Yes
Materials
- Brick, Block
Condition
- Year built: 1905
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Available
Community & neighborhood
Security
- Security features: Smoke Detector(s)
Community
- Community features: Sidewalks
Location
- Region: Knoxville
- Subdivision: Jc Penney Condo Unit 303
HOA & financial
HOA
- Has HOA: Yes
- HOA fee: $504 monthly
- Amenities included: Security, Other
- Services included: Fire Protection, Maintenance Structure, Insurance, Trash, Sewer, Security, Some Amenities, Maintenance Grounds, Water
Other
Other facts
- Listing terms: New Loan,Cash,Conventional