Two-Unit
For Sale
$1,600,000
116 N 9th St, Nashville, TN 37206
Owner-occupancy and separate leasing options create flexibility for residential use and income generation.
Property Size5,000 SF
Price / SF$320
Days on Market24
Property Features for 116 N 9th St
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,323
Building Details
Tenancy
Multi
Listing Agency:
Compass
(615) 335-6594
Listed By:
Bonnie McNichols · License #RTC34432
(615) 335-6594
Source:
Exprealty
Added: Jul 17
Changed: Aug 8
Last Checked: Aug 8 at 7:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
This two-unit duplex at 116 N 9th St in Nashville offers a flexible residential configuration for an owner occupant, house-hacking arrangement, or income-producing use. The property size is listed as 5,000 square feet, and the layout supports living in one unit while leasing the other.
Leases of 30 days or longer are available without requiring a short-term rental permit from the city. The property is positioned minutes from the Oracle campus, Nissan Stadium, downtown Nashville, area restaurants, and interstate access, placing major employment, entertainment, dining, and transportation destinations within convenient reach.
Leases of 30 days or longer are available without requiring a short-term rental permit from the city. The property is positioned minutes from the Oracle campus, Nissan Stadium, downtown Nashville, area restaurants, and interstate access, placing major employment, entertainment, dining, and transportation destinations within convenient reach.
Key Highlights
- Two‑unit duplex configuration
- 5,000‑square‑foot property size
- Owner can occupy one unit while leasing the other
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,795
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,135,900
$1.1M
Cap Rate 7%
$811,357
$811.4K
Cap Rate 9%
$631,056
$631.1K
Market Conditions
NOI Build-Up for 5,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$87.0K $17.40/SF
− Vacancy
−$5.9K −$1.17/SF
EGI
$81.1K $16.23/SF
− OpEx
−$24.3K −$4.87/SF
NOI
$56.8K $11.36/SF
Area
Nashville, TN
Vacancy
6.74%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,135,900
Cap Rate 7%
$811,357
Cap Rate 9%
$631,056
Alternative Uses
Best Use
Multifamily LT 5
$811.4K
$709.9K – $946.6K
NOI $56,795 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$744.5K
$651.5K – $868.6K
NOI $52,117 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,100 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,514
Businesses Nearby
Explore this area
Business Placement
Demographics for 37206, TN
27,792
Population
14,323
Households
1.9
Avg Household Size
34
Median Age
60%
College-Educated
94%
High-School Grad
7.8 sq mi
ZIP Area
3,563
Density / Sq Mi
$88,605
Median Household Income
$58,213
Median Earnings
$1,564
Median Rent
$529,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Owner-occupancy and separate leasing options create flexibility for residential use and income generation.
Where is this duplex located?
The property is located at 116 N 9th St Nashville, TN.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 5,000‑square‑foot property size; Owner can occupy one unit while leasing the other
