Fully Occupied Apartment
For Sale
Contact for pricing
1714 Thistlewood Drive, Clarksville, TN 37042
Fully occupied apartment building with split-level 3-bedroom units featuring 2 full baths and one-car garages.
Property Size5,255 SF
Price / SF$167.27
Days on Market115
Property Features for 1714 Thistlewood Drive
General Information
Standard status
Active
Size
5,255 SF
Property subtype
Retail, Multifamily
Occupancy
100%
Net Operating Income
$75,000
Building Details
Year Built
2010
Tenancy
Multi
Listing Agency:
Keystone Realty & Management
Listed By:
Melissa Crabtree · License #288513
Source:
Crexi
Added: May 15
Changed: Aug 13
Last Checked: Sep 1 at 5:21PM
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 Keystone Realty & Management
Investment Insights
Based on property information with market context.
This apartment building is fully occupied, with all units laid out as split-level floor plans. Each unit provides three bedrooms and two full bathrooms, with wood flooring throughout the living room and kitchen, and carpet in the bedrooms. Kitchens include black appliances: a stove, refrigerator, dishwasher, and microwave.
The property is located at 1714 Thistlewood Drive in Clarksville, TN 37042. Each unit also includes a one-car garage, supporting everyday convenience for residents.
From a physical layout standpoint, the combination of split-level design, consistent kitchen and living area finishes, and attached one-car garage configurations may appeal to tenants seeking an established, move-in-ready unit setup.
The property is located at 1714 Thistlewood Drive in Clarksville, TN 37042. Each unit also includes a one-car garage, supporting everyday convenience for residents.
From a physical layout standpoint, the combination of split-level design, consistent kitchen and living area finishes, and attached one-car garage configurations may appeal to tenants seeking an established, move-in-ready unit setup.
Key Highlights
- Fully occupied apartment building with split‑level floor plans
- All units are 3‑bedroom, 2 full‑bath layouts
- Each unit includes a one‑car garage
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
$42,383
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
4.82%
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%
$847,660
$847.7K
Cap Rate 7%
$605,471
$605.5K
Cap Rate 9%
$470,922
$470.9K
Market Conditions
NOI Build-Up for 5,255 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
$82.0K $15.60/SF
− Vacancy
−$4.9K −$0.94/SF
EGI
$77.1K $14.66/SF
− OpEx
−$34.7K −$6.60/SF
NOI
$42.4K $8.07/SF
Area
Clarksville, TN
Vacancy
6.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$847,660
Cap Rate 7%
$605,471
Cap Rate 9%
$470,922
Alternative Uses
Best Use
Apartment 5plus
$605.5K
$529.8K – $706.4K
NOI $42,383 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$882.1K
$771.9K – $1.03M
NOI $61,748 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Explore this area
Business Placement
Demographics for 37042, TN
83,498
Population
35,433
Households
2.4
Avg Household Size
29
Median Age
26%
College-Educated
94%
High-School Grad
56.9 sq mi
ZIP Area
1,467
Density / Sq Mi
$66,435
Median Household Income
$38,716
Median Earnings
$1,196
Median Rent
$220,700
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?
Apartment building - Fully occupied apartment building with split-level 3-bedroom units featuring 2 full baths and one-car garages.
Where is this apartment building located?
The property is located at 1714 Thistlewood Drive Clarksville, TN.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Fully occupied apartment building with split‑level floor plans; All units are 3‑bedroom, 2 full‑bath layouts; Each unit includes a one‑car garage
