8-Unit Townhouse Apartment
New
For Sale
$950,000
Pending
2450 Caroline Dr, Clarksville, TN 37042
The property is professionally managed, with historical operating data available for review.
Property Size8,280 SF
Days on Market2
Property Features for 2450 Caroline Dr
General Information
Standard status
Pending
Size
8,280 SF
Property subtype
Residential Income
Zoning
R4
Additional Details
Highway Access
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$7,741
Amenities
Carpet,Vinyl
Yes
Individual,Electric Dryer Hookup,Washer Hookup
Assessor
8280
Square Feet
Appliances
Public
No
Building Details
Building Size
8,280 SF
Year Built
1996
Stories
2
Listing Agency:
Byers & Harvey Inc.
(615) 235-9412
Listed By:
Andrea Ranck
Source:
Cadencerealtytn
Added: Oct 30
Last Checked: Oct 30 at 2:25PM
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 Byers & Harvey Inc.
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Investment Insights
Based on property information with market context.
This R4-zoned apartment property comprises eight townhouse units and 8,280 square feet. Built in 1996, the complex has carpet and vinyl flooring, along with individual electric dryer connections and washer hookups. Professional management is in place, and historical operating data is available for review.
The property is near the Tiny Town corridor, with access to Fort Campbell and I-24.
The property is near the Tiny Town corridor, with access to Fort Campbell and I-24.
Key Highlights
- Eight townhouse units
- 8,280 square feet of apartment space
- Built in 1996
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,780
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,335,600
$1.3M
Cap Rate 7%
$954,000
$954.0K
Cap Rate 9%
$742,000
$742.0K
Market Conditions
NOI Build-Up for 8,280 SF
Gross rent
$129.2K $15.60/SF
− Vacancy
−$7.8K −$0.94/SF
EGI
$121.4K $14.66/SF
− OpEx
−$54.6K −$6.60/SF
NOI
$66.8K $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 Rate 5%
$1,335,600
Cap Rate 7%
$954,000
Cap Rate 9%
$742,000
Alternative Uses
Best Use
Apartment 5plus
$954.0K
$834.8K – $1.11M
NOI $66,780 @ 7.0% cap · market cap 7.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,293 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
61
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
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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?
Apartment building - The property is professionally managed, with historical operating data available for review.
Where is this apartment building located?
The property is located at 2450 Caroline Dr Clarksville, TN.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Eight townhouse units; 8,280 square feet of apartment space; Built in 1996
