Brick Multifamily
For Sale
$430,000
2923 Cordell Drive, Nashville, TN 37243
Brick construction and central heating and cooling support year-round residential use.
Property Size1,674 SF
Lot Size0.61 Acres
Price / SF$256.87
Days on Market481
Property Features for 2923 Cordell Drive
General Information
Standard status
Active
Size
1,674 SF
Lot size
0.61 Acres
Property subtype
Multi Family
Site & Location
Neighborhood
Music Valley
Road Access
Yes
Amenities
4
2
Building Details
Year Built
1966
Construction
brick
Listing Agency:
For sale by owner, please contact
Listed By:
Fizber
Source:
Compass
Added: Jul 1, 2025
Changed: Oct 16
Last Checked: Oct 23 at 9:54AM
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 For sale by owner, please contact
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Investment Insights
Based on property information with market context.
This multifamily property at 2923 Cordell Drive offers 1,674 square feet of living space with 4 bedrooms and 2 full bathrooms. The interior includes comfortable living areas and natural light, while central heating and cooling provide the primary climate-control system. Brick exterior construction adds a durable material element to the home.
The property occupies a 0.61-acre lot in Nashville, providing substantial outdoor space around the residence. Built in 1966, it combines an established construction date with a residential layout suited to multifamily ownership. The address is in the 37243 ZIP code.
The property occupies a 0.61-acre lot in Nashville, providing substantial outdoor space around the residence. Built in 1966, it combines an established construction date with a residential layout suited to multifamily ownership. The address is in the 37243 ZIP code.
Key Highlights
- 1,674 square feet of living space
- 4 bedrooms and 2 full bathrooms
- 0.61‑acre lot in Nashville
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,449
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$348,980
$349.0K
Cap Rate 7%
$249,271
$249.3K
Cap Rate 9%
$193,878
$193.9K
Market Conditions
NOI Build-Up for 1,674 SF
Gross rent
$34.1K $20.40/SF
− Vacancy
−$2.4K −$1.45/SF
EGI
$31.7K $18.95/SF
− OpEx
−$14.3K −$8.53/SF
NOI
$17.4K $10.42/SF
Area
Nashville, 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 Rate 5%
$348,980
Cap Rate 7%
$249,271
Cap Rate 9%
$193,878
Alternative Uses
Best Use
Apartment 5plus
$249.3K
$218.1K – $290.8K
NOI $17,449 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$426.2K
$372.9K – $497.2K
NOI $29,831 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
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Business Placement
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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?
Multifamily property - Brick construction and central heating and cooling support year-round residential use.
Where is this multifamily property located?
The property is located at 2923 Cordell Drive Nashville, TN.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: 1,674 square feet of living space; 4 bedrooms and 2 full bathrooms; 0.61‑acre lot in Nashville
