Multifamily Investment
New
For Sale
$395,000
212 Stratton Blvd, Ashland City, TN 37015
Residential income property portfolio comprising multiple buildings and units across Middle Tennessee.
Property Size1,696 SF
Price / SF$232.90
Days on Market7
Property Features for 212 Stratton Blvd
General Information
Standard status
Active
Size
1,696 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
16
Building Details
Year Built
1981
Buildings
5
Listing Agency:
Onward Real Estate
(615) 278-8295
Listed By:
Jacqueline (Jackie) Hardison
Source:
Shearonsellsteam
Added: Aug 25
Changed: Aug 31
Last Checked: Aug 31 at 12:57AM
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 Onward Real Estate
Investment Insights
Based on property information with market context.
This multifamily offering combines 16 residential units across 5 buildings and is marketed as a package of income-producing properties. The portfolio includes the property at 212 Stratton Blvd in Ashland City, along with additional assets in Ashland City and Kingston Springs. The Ashland City property was built in 1981, and the recorded property size is 1,696.
The properties provide exposure to two Middle Tennessee communities, with the source information identifying access to Ashland City, Kingston Springs, Nashville, and surrounding employment, shopping, and service areas. The seller may also consider individual properties or alternative combinations separately. Buyers should independently verify unit counts, rents, leases, occupancy, expenses, taxes, zoning, and financial performance.
The properties provide exposure to two Middle Tennessee communities, with the source information identifying access to Ashland City, Kingston Springs, Nashville, and surrounding employment, shopping, and service areas. The seller may also consider individual properties or alternative combinations separately. Buyers should independently verify unit counts, rents, leases, occupancy, expenses, taxes, zoning, and financial performance.
Key Highlights
- 16 residential units across 5 buildings
- Portfolio properties in Ashland City and Kingston Springs
- 212 Stratton Blvd property built in 1981
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
$17,678
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
4.48%
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%
$353,560
$353.6K
Cap Rate 7%
$252,543
$252.5K
Cap Rate 9%
$196,422
$196.4K
Market Conditions
NOI Build-Up for 1,696 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
$34.6K $20.40/SF
− Vacancy
−$2.5K −$1.45/SF
EGI
$32.1K $18.95/SF
− OpEx
−$14.5K −$8.53/SF
NOI
$17.7K $10.42/SF
Area
Cheatham County, TN
Vacancy
7.10%
Lease Rate
$20.40 /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%
$353,560
Cap Rate 7%
$252,543
Cap Rate 9%
$196,422
Alternative Uses
Best Use
Apartment 5plus
$252.5K
$221.0K – $294.6K
NOI $17,678 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$569.9K
$498.6K – $664.8K
NOI $39,890 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
Explore this area
Business Placement
Demographics for 37015, TN
18,761
Population
8,366
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
89%
High-School Grad
155.7 sq mi
ZIP Area
120
Density / Sq Mi
$74,848
Median Household Income
$43,072
Median Earnings
$1,244
Median Rent
$259,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Residential income property portfolio comprising multiple buildings and units across Middle Tennessee.
Where is this multifamily property located?
The property is located at 212 Stratton Blvd Ashland City, TN.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 16 residential units across 5 buildings; Portfolio properties in Ashland City and Kingston Springs; 212 Stratton Blvd property built in 1981
