Renovated Four-Unit
For Sale
$435,000
19 Proctor Dr, Clarksville, TN 37043
Updated multifamily property with separate one-bedroom residences, full kitchens, living areas, and in-unit laundry.
Property Size1,920 SF
Price / SF$226.56
Days on Market15
Property Features for 19 Proctor Dr
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Residential Income
Building Details
Year Built
1955
Listing Agency:
Provision Realty Group
Listed By:
Whitley Battles Smith 6155137992 · License #376229
(615) 513-7992
Source:
Viewchattanoogaproperties
Added: Sep 13
Changed: Sep 25
Last Checked: Sep 26 at 7:29AM
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 Provision Realty Group
Investment Insights
Based on property information with market context.
This renovated quadplex contains four one-bedroom, one-bath residences within approximately 1,920 square feet. Each unit includes a full kitchen, dedicated living space, and in-unit laundry, creating a consistent configuration across the property. Renovation work has been completed throughout, and the building dates to 1955.
The property is located near Madison St in Clarksville, with access to I-24, shopping, dining, and other Clarksville amenities. A neighboring quadplex is also available, providing the possibility of acquiring 8 total units together. Current rent roll and additional property details are available through the listing agent.
The property is located near Madison St in Clarksville, with access to I-24, shopping, dining, and other Clarksville amenities. A neighboring quadplex is also available, providing the possibility of acquiring 8 total units together. Current rent roll and additional property details are available through the listing agent.
Key Highlights
- Four 1‑bedroom, 1‑bath units
- Approximately 1,920 square feet
- Full kitchens, living spaces, and in‑unit laundry in every unit
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
$17,342
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
3.99%
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%
$346,840
$346.8K
Cap Rate 7%
$247,743
$247.7K
Cap Rate 9%
$192,689
$192.7K
Market Conditions
NOI Build-Up for 1,920 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
$26.5K $13.80/SF
− Vacancy
−$1.7K −$0.90/SF
EGI
$24.8K $12.90/SF
− OpEx
−$7.4K −$3.87/SF
NOI
$17.3K $9.03/SF
Area
Clarksville, TN
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$346,840
Cap Rate 7%
$247,743
Cap Rate 9%
$192,689
Alternative Uses
Best Use
Multifamily LT 5
$247.7K
$216.8K – $289.0K
NOI $17,342 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$221.2K
$193.6K – $258.1K
NOI $15,485 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$322.3K
$282.0K – $376.0K
NOI $22,561 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
863
Businesses Nearby
Explore this area
Business Placement
Demographics for 37043, TN
52,792
Population
22,221
Households
2.4
Avg Household Size
37
Median Age
43%
College-Educated
97%
High-School Grad
108.5 sq mi
ZIP Area
487
Density / Sq Mi
$91,871
Median Household Income
$46,602
Median Earnings
$1,208
Median Rent
$325,400
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated multifamily property with separate one-bedroom residences, full kitchens, living areas, and in-unit laundry.
Where is this quadplex located?
The property is located at 19 Proctor Dr Clarksville, TN.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath units; Approximately 1,920 square feet; Full kitchens, living spaces, and in‑unit laundry in every unit
