New Construction 10-Unit Apartment
For Sale
$1,800,000
329 Cedar Ct, Clarksville, TN 37042
Completed residences feature two-level layouts, two bedrooms, and two full bathrooms per unit.
Property Size9,840 SF
Price / SF$182.93
Days on Market41
Property Features for 329 Cedar Ct
General Information
Standard status
Active
Size
9,840 SF
Property subtype
Multi-Family
Building Details
Year Built
2025
Listing Agency:
Keller Williams Realty
(931) 237-1830
Listed By:
Karen Blick, Johnathan Wyatt Blick · License #336095
Source:
Fykesrealtygroup
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 4:41AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Completed in 2025, this 10-unit apartment property contains 9,840 square feet of residential space. Each residence is arranged across two levels with two bedrooms, walk-in closets, and two full bathrooms. The main floor includes a private bedroom with an adjoining full bath, while the upper level provides a common area, second bedroom, and additional full bath.
All units are finished and available, with a 1-year builder warranty covering the new construction. The property is located at 329 Cedar Ct in Clarksville, Tennessee, just minutes from downtown and within a designated opportunity zone. Its condominium configuration and completed condition support both individual unit occupancy and rental operations, as described for the property.
All units are finished and available, with a 1-year builder warranty covering the new construction. The property is located at 329 Cedar Ct in Clarksville, Tennessee, just minutes from downtown and within a designated opportunity zone. Its condominium configuration and completed condition support both individual unit occupancy and rental operations, as described for the property.
Key Highlights
- 10‑unit apartment property with 9,840 square feet
- Built in 2025 with all units finished and available
- Two‑level residences with two bedrooms and two full bathrooms each
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
$79,362
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
4.41%
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%
$1,587,240
$1.6M
Cap Rate 7%
$1,133,743
$1.1M
Cap Rate 9%
$881,800
$881.8K
Market Conditions
NOI Build-Up for 9,840 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
$153.5K $15.60/SF
− Vacancy
−$9.2K −$0.94/SF
EGI
$144.3K $14.66/SF
− OpEx
−$64.9K −$6.60/SF
NOI
$79.4K $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 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%
$1,587,240
Cap Rate 7%
$1,133,743
Cap Rate 9%
$881,800
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$992.0K – $1.32M
NOI $79,362 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.45M – $1.93M
NOI $115,624 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
379
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?
Apartment building - Completed residences feature two-level layouts, two bedrooms, and two full bathrooms per unit.
Where is this apartment building located?
The property is located at 329 Cedar Ct Clarksville, TN.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 10‑unit apartment property with 9,840 square feet; Built in 2025 with all units finished and available; Two‑level residences with two bedrooms and two full bathrooms each
