1861 Woodruff Ave, Greenbrier, TN 37073

Building Details

Year Built 1974 More

Buildings 1 More

Listing Agency: Crye-Leike Music City

Listed By: Cindy Lockhart Show Phone

Source: Nashvillehomefinderonline

Added: Oct 17 Changed: Nov 8 Last Checked: Nov 8 at 7:17AM

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Investment Insights

Based on property information with market context.

Built in 1974, this triplex contains approximately 5,000 square feet across three townhome-style units on about 1.6 level acres. Each unit has 3–4 bedrooms, two full bathrooms, and its own entrances at the front and rear. Two units are leased, while the third is vacant. Recent property work includes updated electrical, nearly new HVAC systems, a metal roof installed in 2019, and updates to the septic/sewer system.

The property is in Greenbrier, in Robertson County, with access to Springfield, Goodlettsville, and Nashville. On-site parking serves the three-unit building.

Key Highlights

• Three units in approximately 5,000 square feet on about 1.6 acres
• Each unit has 3–4 bedrooms and 2 full bathrooms
• Separate front and rear entrances for all three units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$63,454

Cap Rate

8.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,269,080 $1.3M

Cap Rate 7%

$906,486 $906.5K

Cap Rate 9%

$705,044 $705.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,000 SF

Gross rent

$97.2K $19.44/SF

− Vacancy

−$6.6K −$1.31/SF

EGI

$90.6K $18.13/SF

− OpEx

−$27.2K −$5.44/SF

NOI

$63.5K $12.69/SF

Area

Robertson County, TN

Vacancy

6.74%

Lease Rate

$19.44 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,269,080

Cap Rate 7%

$906,486

Cap Rate 9%

$705,044

Alternative Uses

Best Use

Multifamily LT 5

$906.5K

$793.2K – $1.06M (±1% cap)

NOI $63,454 @ 7.0% cap · market cap 8.46%

Second Best

Apartment 5plus

$744.5K

$651.5K – $868.6K (±1% cap)

NOI $52,117 @ 7.0% cap · market cap 6.95%

Theoretical Best

Office A

$1.47M

$1.28M – $1.71M (±1% cap)

NOI $102,600 @ 7.0% cap · market cap 13.68%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

85

Businesses Nearby

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Demographics for 37073, TN

14,506

Population

5,460

Households

2.7

Avg Household Size

41

Median Age

22%

College-Educated

92%

High-School Grad

51.2 sq mi

ZIP Area

283

Density / Sq Mi

$82,716

Median Household Income

$43,617

Median Earnings

$1,157

Median Rent

$339,100

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Triplex - Each of the three units has separate front and rear entrances, with a mix of three- and four-bedroom layouts.

Where is this triplex located?

The property is located at 1861 Woodruff Ave Greenbrier, TN.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: Three units in approximately 5,000 square feet on about 1.6 acres; Each unit has 3–4 bedrooms and 2 full bathrooms; Separate front and rear entrances for all three units