Tenant-Occupied
For Sale
$369,900
2504 Highland Trace Dr, Nashville, TN 37207
Two occupied units provide immediate rental continuity for an owner or investor.
Property Size1,664 SF
Price / SF$222.30
Days on Market13
Property Features for 2504 Highland Trace Dr
General Information
Standard status
Active
Size
1,664 SF
Property subtype
Multi-Family
Financials
Asking Price
$369,900
Gross Income
$20,400
Additional Details
Multifamily Units
2
Building Details
Year Built
1984
Listing Agency:
Compass RE
Listed By:
Ron Hodges · License #RTC42223
(615) 473-8336
Source:
Keltonrealestate
Added: Sep 15
Changed: Sep 24
Last Checked: Sep 26 at 4:06AM
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 Compass RE
Investment Insights
Based on property information with market context.
This 1,664-square-foot duplex at 2504 Highland Trace Dr. contains two income-producing units with tenants in place. One tenancy is month-to-month, while the other extends through April 2027, providing different lease timelines within the property. Both occupants are open to remaining, supporting continued use as a tenant-occupied residential income property.
Built in 1984, the property offers access to Briley Parkway, Whites Creek Pike, and major Nashville corridors. Its two-unit configuration supports an investment, portfolio, or owner-occupant strategy, including the potential to occupy one unit while retaining income from the other, subject to applicable lease terms and buyer verification.
Built in 1984, the property offers access to Briley Parkway, Whites Creek Pike, and major Nashville corridors. Its two-unit configuration supports an investment, portfolio, or owner-occupant strategy, including the potential to occupy one unit while retaining income from the other, subject to applicable lease terms and buyer verification.
Key Highlights
- Two‑unit duplex with 1,664 SF of building area
- Both units are occupied by existing tenants
- One tenancy is month‑to‑month
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
$18,901
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
5.11%
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%
$378,020
$378.0K
Cap Rate 7%
$270,014
$270.0K
Cap Rate 9%
$210,011
$210.0K
Market Conditions
NOI Build-Up for 1,664 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
$29.0K $17.40/SF
− Vacancy
−$2.0K −$1.17/SF
EGI
$27.0K $16.23/SF
− OpEx
−$8.1K −$4.87/SF
NOI
$18.9K $11.36/SF
Area
ZIP 37207
Vacancy
6.74%
Lease Rate
$17.40 /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%
$378,020
Cap Rate 7%
$270,014
Cap Rate 9%
$210,011
Alternative Uses
Best Use
Multifamily LT 5
$270.0K
$236.3K – $315.0K
NOI $18,901 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$247.8K
$216.8K – $289.1K
NOI $17,345 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$476.1K
$416.6K – $555.4K
NOI $33,326 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
88
Businesses Nearby
Explore this area
Business Placement
Demographics for 37207, TN
38,719
Population
18,698
Households
2.1
Avg Household Size
34
Median Age
33%
College-Educated
88%
High-School Grad
19.3 sq mi
ZIP Area
2,006
Density / Sq Mi
$60,102
Median Household Income
$38,115
Median Earnings
$1,200
Median Rent
$332,500
Median Home Value
Check the figures for this property
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?
Duplex - Two occupied units provide immediate rental continuity for an owner or investor.
Where is this duplex located?
The property is located at 2504 Highland Trace Dr Nashville, TN.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,664 SF of building area; Both units are occupied by existing tenants; One tenancy is month‑to‑month
