Four-Unit Multifamily
For Sale
$555,555
248 Executive Ave, Clarksville, TN 37042
Fully leased residences offer private attached storage and established tenancy near Fort Campbell.
Property Size4,080 SF
Price / SF$136.17
Days on Market52
Property Features for 248 Executive Ave
General Information
Standard status
Active
Size
4,080 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Building Details
Year Built
2009
Listing Agency:
The House Connection
(931) 272-3065
Listed By:
John Paul Williams
Source:
Shearonsellsteam
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 29 at 12:05PM
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 The House Connection
Investment Insights
Based on property information with market context.
Built in 2009, this 4,080-square-foot quadplex contains four residential units. Each unit includes two bedrooms, 1.5 bathrooms, and a private attached storage area, creating a consistent layout across the property. The asset is 100% occupied with tenants already in place and is professionally managed by Rent My Home Property Management.
The property is located at 248 Executive Ave in Clarksville, Tennessee, near Fort Campbell. Its four-unit configuration, established occupancy, and on-site storage provide a straightforward multifamily format for continued rental operations.
The property is located at 248 Executive Ave in Clarksville, Tennessee, near Fort Campbell. Its four-unit configuration, established occupancy, and on-site storage provide a straightforward multifamily format for continued rental operations.
Key Highlights
- Four‑unit quadplex with 4,080 square feet
- 100% occupancy with established tenants in place
- Each unit has 2 bedrooms and 1.5 bathrooms
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
$36,851
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
6.63%
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%
$737,020
$737.0K
Cap Rate 7%
$526,443
$526.4K
Cap Rate 9%
$409,456
$409.5K
Market Conditions
NOI Build-Up for 4,080 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
$56.3K $13.80/SF
− Vacancy
−$3.7K −$0.90/SF
EGI
$52.6K $12.90/SF
− OpEx
−$15.8K −$3.87/SF
NOI
$36.9K $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%
$737,020
Cap Rate 7%
$526,443
Cap Rate 9%
$409,456
Alternative Uses
Best Use
Multifamily LT 5
$526.4K
$460.6K – $614.2K
NOI $36,851 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$470.1K
$411.3K – $548.4K
NOI $32,906 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$684.9K
$599.3K – $799.0K
NOI $47,942 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
207
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?
Quadplex - Fully leased residences offer private attached storage and established tenancy near Fort Campbell.
Where is this quadplex located?
The property is located at 248 Executive Ave Clarksville, TN.
What is the asking price?
The asking price for this property is $555,555.
What are key features of this property?
This property features: Four‑unit quadplex with 4,080 square feet; 100% occupancy with established tenants in place; Each unit has 2 bedrooms and 1.5 bathrooms
