Multifamily Conversion with Upside
451 Aerospace Way & 1274 Murfreesboro Pike Nashville, TN 37217
For Sale
Contact for pricing
42-unit multifamily property with value-add opportunity near downtown Nashville.
Days on Market114
Property Features for 451 Aerospace Way & 1274 Murfreesboro Pike
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Building Details
- Year Built
- 1967
Listing Agency:
(828) 230-7043
Listed By:
Carter Boone · License #TN #362849
Source:
Franklinst
Added: Apr 1
Changed: Jul 10
Last Checked: Jul 10 at 3:56PM
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 Carter Boone
Investment Insights
Based on property information with market context.
This 42-unit multifamily conversion, formerly a motel, has been successfully repositioned into multifamily housing. It offers operational stability with upside potential. The property is located within 15 minutes of downtown Nashville, providing access to major business districts, cultural landmarks, and entertainment venues. It is also close to retail and dining corridors, including Murfreesboro Pike and Harding Place, with options like Kroger, Walmart, and local restaurants. Conveniently located near Nashville International Airport (BNA), just 3 miles away, it offers convenient travel access and growing infrastructure. Quick access to I-40, I-24, and I-840 provides excellent regional connectivity for commuters and logistics. The property is surrounded by major employers, including FedEx, Amazon, Asurion, and Bridgestone Americas facilities. Recent capital improvements have modernized the infrastructure and building systems, including kitchenettes added to 15 units, reducing near-term capital needs. The flexible unit mix is ideal for workforce housing or short-term/extended stay strategies, depending on operator goals.
Key Highlights
- Strong In‑Place Returns: Generating a 6.3% Cap Rate on Current Income
- Value‑Add Opportunity: Interior Upgrades and Amenity Enhancements Can Further Boost Rents and NOI
- Within 15 Minutes of Downtown Nashville – Access to Major Business Districts, Cultural Landmarks, and Entertainment Venues
Property Analytics
Property Profile
Location Intelligence
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FAQs
What type of property is this?
Apartment building - 42-unit multifamily property with value-add opportunity near downtown Nashville.
Where is this apartment building located?
The property is located at 451 Aerospace Way & 1274 Murfreesboro Pike Nashville, TN.
What are key features of this property?
This property features: Strong In‑Place Returns: Generating a **6.3% Cap Rate** on Current Income; Value‑Add Opportunity: Interior Upgrades and Amenity Enhancements Can Further Boost Rents and NOI; Within 15 Minutes of Downtown Nashville – Access to Major Business Districts, Cultural Landmarks, and Entertainment Venues
