Four-Unit
2809 Cobalt Dr, Clarksville, TN 37040
For Sale
$559,000
R-4-zoned residential property has full occupancy and four two-bedroom layouts.
Property Size4,140 SF
Price / SF$135.02
Days on Market25
Property Features for 2809 Cobalt Dr
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Crye-Leike, Inc., REALTORS
(931) 648-2112
Listed By:
John Montgomery · License #344121
(931) 802-1222
Source:
Concordrealty
Added: Oct 16
Changed: Nov 7
Last Checked: Nov 8 at 12:38PM
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 Crye-Leike, Inc., REALTORS
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Investment Insights
Based on property information with market context.
Built in 2006, this quadplex contains four units, each configured with two bedrooms and 1.5 baths. The property totals 4,140 square feet and is fully occupied. Its R-4 zoning is also a defining feature of the residential asset.
The property is approximately five minutes from I-24, Kroger, Starbucks, and Chick-fil-A. Fort Campbell, APSU, the Industrial Park, and Vanderbilt Clarksville Hospital are also listed among nearby destinations.
The property is approximately five minutes from I-24, Kroger, Starbucks, and Chick-fil-A. Fort Campbell, APSU, the Industrial Park, and Vanderbilt Clarksville Hospital are also listed among nearby destinations.
Key Highlights
- Four units, each with 2 bedrooms and 1.5 baths
- 4,140 square feet across the property
- Fully occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,393
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$747,860
$747.9K
Cap Rate 7%
$534,186
$534.2K
Cap Rate 9%
$415,478
$415.5K
Market Conditions
NOI Build-Up for 4,140 SF
Gross rent
$57.1K $13.80/SF
− Vacancy
−$3.7K −$0.90/SF
EGI
$53.4K $12.90/SF
− OpEx
−$16.0K −$3.87/SF
NOI
$37.4K $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 Rate 5%
$747,860
Cap Rate 7%
$534,186
Cap Rate 9%
$415,478
Alternative Uses
Best Use
Multifamily LT 5
$534.2K
$467.4K – $623.2K
NOI $37,393 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$477.0K
$417.4K – $556.5K
NOI $33,390 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$695.0K
$608.1K – $810.8K
NOI $48,647 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
Business Placement
Demographics for 37040, TN
60,382
Population
24,628
Households
2.5
Avg Household Size
31
Median Age
30%
College-Educated
94%
High-School Grad
92.8 sq mi
ZIP Area
651
Density / Sq Mi
$65,331
Median Household Income
$40,621
Median Earnings
$1,177
Median Rent
$242,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - R-4-zoned residential property has full occupancy and four two-bedroom layouts.
Where is this quadplex located?
The property is located at 2809 Cobalt Dr Clarksville, TN.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1.5 baths; 4,140 square feet across the property; Fully occupied
