Occupied Two-Unit
For Sale
Contact for pricing
Pending
126 Holloway Dr, Lebanon, TN 37087
Residential duplex with two occupied units, flexible lease terms, and tenant-paid utilities.
Property Size2,400 SF
Days on Market216
Property Features for 126 Holloway Dr
General Information
Standard status
Pending
Size
2,400 SF
Class
B
Property subtype
Multifamily
Zoning
Residential (Duplex)
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$22,750
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Cap Rate
6.5%
Highway Access
Yes
Building Details
Year Built
1985
Buildings
1
Stories
2
Units
2
Listing Agency:
California Home Team
Listed By:
Wade Wright · License #371347
Source:
Crexi
Added: Mar 17
Changed: Oct 8
Last Checked: Oct 16 at 9:24AM
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 California Home Team
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Investment Insights
Based on property information with market context.
This 2,400-square-foot duplex was built in 1985 and contains two residential units, each configured with two bedrooms and 1.5 baths. The property carries Residential (Duplex) zoning, and both residences are currently occupied. Lease arrangements are month to month, providing a defined existing tenancy structure. Tenants are responsible for all utilities, a stated operating feature of the property.
The duplex is located at 126 Holloway Dr in Lebanon, Tennessee, within Wilson County. The property is described as being minutes from I-40, with Nashville reachable by a short commute. Its two-unit layout, established construction date, current occupancy, and utility arrangement provide the key physical and operational details for review.
The duplex is located at 126 Holloway Dr in Lebanon, Tennessee, within Wilson County. The property is described as being minutes from I-40, with Nashville reachable by a short commute. Its two-unit layout, established construction date, current occupancy, and utility arrangement provide the key physical and operational details for review.
Key Highlights
- 2,400 SF duplex built in 1985
- Two 2 bed / 1.5 bath units
- Both units are fully occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,296
Cap Rate
6.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,920
$565.9K
Cap Rate 7%
$404,229
$404.2K
Cap Rate 9%
$314,400
$314.4K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$42.9K $17.88/SF
− Vacancy
−$2.5K −$1.04/SF
EGI
$40.4K $16.84/SF
− OpEx
−$12.1K −$5.05/SF
NOI
$28.3K $11.79/SF
Area
Wilson County, TN
Vacancy
5.80%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,920
Cap Rate 7%
$404,229
Cap Rate 9%
$314,400
Alternative Uses
Best Use
Multifamily LT 5
$404.2K
$353.7K – $471.6K
NOI $28,296 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$375.4K
$328.5K – $438.0K
NOI $26,279 @ 7.0% cap · market cap 6.33%
Theoretical Best
Warehouse
$3.15M
$2.75M – $3.67M
NOI $220,302 @ 7.0% cap · market cap 53.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Explore this area
Business Placement
Demographics for 37087, TN
51,658
Population
21,800
Households
2.4
Avg Household Size
39
Median Age
29%
College-Educated
92%
High-School Grad
164.9 sq mi
ZIP Area
313
Density / Sq Mi
$80,978
Median Household Income
$43,253
Median Earnings
$1,134
Median Rent
$359,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Residential duplex with two occupied units, flexible lease terms, and tenant-paid utilities.
Where is this duplex located?
The property is located at 126 Holloway Dr Lebanon, TN.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: 2,400 SF duplex built in 1985; Two 2 bed / 1.5 bath units; Both units are fully occupied
