145 S Gay St This $2.2M ($492.83 per sq ft) mixed-use building in Downtown Knoxville has been thoughtfully simplified. Completely remodeled and spanning 4, 464 square feet, it offers a rare opportunity in the heart of the city with five total spaces: two commercial units on the lower level and three residential units above, designed for flexibility, strong income potential, and true downtown living. A standout feature is the massive private deck overlooking Gay Street, with sweeping views of the downtown skyline and city lights. Even rarer for this location: five dedicated parking spaces, a true luxury in downtown Knoxville. The commercial level is currently home to a restaurant and marketplace, with the ability to adapt the spaces to fit your future needs. Upstairs, the residential units are currently rented, and the building is also Airbnb and VRBO approved, creating strong short-term rental potential in a high-demand downtown location. Just minutes from the University of Tennessee, this property is ideal for attracting students, faculty, and visiting professionals, while staying steps from restaurants, shops, brew pubs, the Tennessee Theatre, and UT game day energy. Close to UT Medical Center and only twenty minutes from McGhee Tyson Airport, this is a downtown investment that truly checks every box. Call for additional details and showing instructions.