Multifamily
116d N 9th St, Nashville, TN 37206
For Sale
$1,500,000
RM20-zoned housing offers the option of leasing for stays of 30 days or longer without a short-term rental permit.
Property Size5,000 SF
Price / SF$300
Days on Market11
Property Features for 116d N 9th St
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Highway Access
Taxes and HOA fees
Annual Taxes
Amenities
Luxury Vinyl
Yes
Individual,Electric Dryer Hookup,Washer Hookup
Other
5000
Square Feet
Furniture
Public
3
1
No
Garage Faces Front
Building Details
Building Size
Year Built
Stories
Listing Agency:
Compass
(615) 235-9412
Listed By:
Ashley Cavazos
Source:
Cadencerealtytn
Added: Oct 30
Changed: Nov 9
Last Checked: Nov 9 at 6:38AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 5,000-square-foot multifamily property was built in 2022 and is zoned RM20. Unit C is available for individual purchase, while the remarks also describe occupancy of one unit alongside income from another. Leases of 30 days or longer do not require a short-term rental permit from the city.
The property is in East Nashville, with access to downtown and interstate routes. The Oracle campus, Nissan Stadium, and restaurants are described as nearby destinations.
The property is in East Nashville, with access to downtown and interstate routes. The Oracle campus, Nissan Stadium, and restaurants are described as nearby destinations.
Key Highlights
- 5,000 square feet; built in 2022
- RM20 zoning
- Unit C is available for individual purchase
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,117
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,042,340
$1.0M
Cap Rate 7%
$744,529
$744.5K
Cap Rate 9%
$579,078
$579.1K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$102.0K $20.40/SF
− Vacancy
−$7.2K −$1.45/SF
EGI
$94.8K $18.95/SF
− OpEx
−$42.6K −$8.53/SF
NOI
$52.1K $10.42/SF
Area
Nashville, TN
Vacancy
7.10%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,042,340
Cap Rate 7%
$744,529
Cap Rate 9%
$579,078
Alternative Uses
Best Use
Apartment 5plus
$744.5K
$651.5K – $868.6K
NOI $52,117 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,100 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,594
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
$529,400
Median Home Value
Market
Average Price Trend$/SF for Multifamily properties in Nashville, TN
Properties on Market for Multifamily properties in Nashville
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - RM20-zoned housing offers the option of leasing for stays of 30 days or longer without a short-term rental permit.
Where is this multifamily property located?
The property is located at 116d N 9th St Nashville, TN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 5,000 square feet; built in 2022; RM20 zoning; Unit C is available for individual purchase
