Triplex With Development
For Sale
$399,999
3319 John Mallette Dr, Nashville, TN 37218
Converted residential property configured as a triplex in Bordeaux, with one unit available for showing.
Property Size2,692 SF
Price / SF$148.59
Days on Market53
Property Features for 3319 John Mallette Dr
General Information
Standard status
Active
Size
2,692 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$2,345
Listing Agency:
B-Elite Real Estate Services
(615) 243-9959
Listed By:
Savannah Espinosa
(615) 243-9959
Source:
Exprealty
Added: Jul 1
Changed: Aug 21
Last Checked: Aug 21 at 10:06AM
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 B-Elite Real Estate Services
Investment Insights
Based on property information with market context.
Located at 3319 John Mallette Dr in Nashville’s Bordeaux area, this 2,692-square-foot residential property has been converted into a triplex. The middle unit is vacant for showings, while other units are occupied; visitors should not disturb tenants.
The property is offered as-is. Potential identified in the property information includes renovation, holding as an income property, rezoning for two dwellings, or subdivision of the lot. Buyers and their agents are responsible for completing their own due diligence regarding zoning, development, occupancy, and physical condition.
The property is offered as-is. Potential identified in the property information includes renovation, holding as an income property, rezoning for two dwellings, or subdivision of the lot. Buyers and their agents are responsible for completing their own due diligence regarding zoning, development, occupancy, and physical condition.
Key Highlights
- 2,692‑square‑foot residential property converted into a triplex
- Middle unit is vacant and available for showings
- Other units are occupied; tenants should not be disturbed
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
$30,579
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
7.64%
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%
$611,580
$611.6K
Cap Rate 7%
$436,843
$436.8K
Cap Rate 9%
$339,767
$339.8K
Market Conditions
NOI Build-Up for 2,692 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
$46.8K $17.40/SF
− Vacancy
−$3.2K −$1.17/SF
EGI
$43.7K $16.23/SF
− OpEx
−$13.1K −$4.87/SF
NOI
$30.6K $11.36/SF
Area
Nashville, TN
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%
$611,580
Cap Rate 7%
$436,843
Cap Rate 9%
$339,767
Alternative Uses
Best Use
Multifamily LT 5
$436.8K
$382.2K – $509.7K
NOI $30,579 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$400.9K
$350.8K – $467.7K
NOI $28,060 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$685.3K
$599.6K – $799.5K
NOI $47,971 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
Explore this area
Business Placement
Demographics for 37218, TN
14,875
Population
6,497
Households
2.3
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
39.0 sq mi
ZIP Area
381
Density / Sq Mi
$59,073
Median Household Income
$38,726
Median Earnings
$1,368
Median Rent
$295,400
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?
Triplex - Converted residential property configured as a triplex in Bordeaux, with one unit available for showing.
Where is this triplex located?
The property is located at 3319 John Mallette Dr Nashville, TN.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: 2,692‑square‑foot residential property converted into a triplex; Middle unit is vacant and available for showings; Other units are occupied; tenants should not be disturbed
