Historic Three-Unit
For Sale
$749,900
3506 Golf St, Nashville, TN 37216
National Register property with separate entrances, individually metered units, and shared basement storage.
Property Size2,870 SF
Price / SF$261.29
Days on Market20
Property Features for 3506 Golf St
General Information
Standard status
Active
Size
2,870 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 1BR, 1 x 2BR
Multifamily Units
3
Additional Details
Gross Income
$38,160
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$5,169
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Ratliff
(615) 483-4042
Listed By:
Ian Ratliff
(615) 483-4042
Source:
Exprealty
Added: Jul 22
Changed: Aug 9
Last Checked: Aug 9 at 8:19AM
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 Ratliff
Investment Insights
Based on property information with market context.
This historic triplex contains three residential units: two one-bedroom apartments and one two-bedroom apartment. Each unit includes a generous living area and dining room, while original wood floors, trim, and other period details remain. One apartment also features a fireplace. Separate entrances support independent access, and individual electric meters provide separate utility measurement for each unit.
The property includes a full basement with storage and three separate washer/dryer hookups. It is listed on the National Register of Historic Places and dates to the 1940's. Located at 3506 Golf St in Nashville, the property sits just off Gallatin Pike, with local shops, dining, and everyday conveniences described as minutes away. The units are occupied by tenants on month-to-month leases.
The property includes a full basement with storage and three separate washer/dryer hookups. It is listed on the National Register of Historic Places and dates to the 1940's. Located at 3506 Golf St in Nashville, the property sits just off Gallatin Pike, with local shops, dining, and everyday conveniences described as minutes away. The units are occupied by tenants on month-to-month leases.
Key Highlights
- Three‑unit configuration with two 1‑bedroom apartments and one 2‑bedroom apartment
- Listed on the National Register of Historic Places
- 1940's home with original wood floors, trim, and period character
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
$32,601
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
4.35%
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%
$652,020
$652.0K
Cap Rate 7%
$465,729
$465.7K
Cap Rate 9%
$362,233
$362.2K
Market Conditions
NOI Build-Up for 2,870 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
$49.9K $17.40/SF
− Vacancy
−$3.4K −$1.17/SF
EGI
$46.6K $16.23/SF
− OpEx
−$14.0K −$4.87/SF
NOI
$32.6K $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%
$652,020
Cap Rate 7%
$465,729
Cap Rate 9%
$362,233
Alternative Uses
Best Use
Multifamily LT 5
$465.7K
$407.5K – $543.4K
NOI $32,601 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$427.4K
$373.9K – $498.6K
NOI $29,915 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$730.6K
$639.3K – $852.4K
NOI $51,143 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
Explore this area
Business Placement
Demographics for 37216, TN
18,191
Population
9,574
Households
1.9
Avg Household Size
36
Median Age
57%
College-Educated
96%
High-School Grad
6.7 sq mi
ZIP Area
2,715
Density / Sq Mi
$82,134
Median Household Income
$54,407
Median Earnings
$1,507
Median Rent
$404,100
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 - National Register property with separate entrances, individually metered units, and shared basement storage.
Where is this triplex located?
The property is located at 3506 Golf St Nashville, TN.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Three‑unit configuration with two 1‑bedroom apartments and one 2‑bedroom apartment; Listed on the National Register of Historic Places; 1940's home with original wood floors, trim, and period character
