18-Unit Apartment
For Sale
Contact for pricing
363-B Wells Chase, Spring Hill, TN 37174
Newly built residential assets combine townhome layouts with two live-work residences across Spring Hill and Nashville.
Property Size25,894 SF
Price / SF$270.33
Days on Market13
Property Features for 363-B Wells Chase
General Information
Standard status
Active
Size
25,894 SF
Class
A
Property subtype
Multifamily
Additional Details
Multifamily Units
18
Building Details
Year Built
2025
Units
18
Listing Agency:
The Loch Company
(615) 790-5099
Listed By:
Tom Lochbihler · License #256873
Source:
Crexi
Added: Jul 30
Changed: Aug 11
Last Checked: Aug 11 at 6:50AM
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 The Loch Company
Investment Insights
Based on property information with market context.
This 18-unit residential portfolio contains 16 townhomes at Preston Park in Spring Hill and two live-work residences at Hyde’s Landing in Nashville. Completed in 2025, the properties total 25,894 square feet and include a mix of one-bedroom, two-bedroom, and four-bedroom residences. The homes feature contemporary open layouts and newer construction suited to current residential demand.
The Spring Hill properties are near shopping, restaurants, parks, major employers, Franklin, Cool Springs, and Nashville. The Nashville residences provide a live-work configuration with access to downtown, along with nearby restaurants, coffee shops, breweries, entertainment venues, and cultural attractions. Several residences are being marketed for lease, and the portfolio offers residential scale across two Middle Tennessee locations.
The Spring Hill properties are near shopping, restaurants, parks, major employers, Franklin, Cool Springs, and Nashville. The Nashville residences provide a live-work configuration with access to downtown, along with nearby restaurants, coffee shops, breweries, entertainment venues, and cultural attractions. Several residences are being marketed for lease, and the portfolio offers residential scale across two Middle Tennessee locations.
Key Highlights
- 18 residential units across Spring Hill and Nashville
- 16 townhomes at Preston Park in Spring Hill
- Two live‑work residences at Hyde’s Landing in Nashville
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
$433,233
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
6.19%
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%
$8,664,660
$8.7M
Cap Rate 7%
$6,189,043
$6.2M
Cap Rate 9%
$4,813,700
$4.8M
Market Conditions
NOI Build-Up for 25,894 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
$683.6K $26.40/SF
− Vacancy
−$106.0K −$4.09/SF
EGI
$577.6K $22.31/SF
− OpEx
−$144.4K −$5.58/SF
NOI
$433.2K $16.73/SF
Area
Maury County, TN
Vacancy
15.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$8,664,660
Cap Rate 7%
$6,189,043
Cap Rate 9%
$4,813,700
Alternative Uses
Best Use
Office B
$6.19M
$5.42M – $7.22M
NOI $433,233 @ 7.0% cap · market cap 6.19%
Second Best
Mixed Use
$3.35M
$2.93M – $3.91M
NOI $234,794 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$7.59M
$6.64M – $8.86M
NOI $531,345 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 37174, TN
48,849
Population
19,631
Households
2.5
Avg Household Size
35
Median Age
42%
College-Educated
95%
High-School Grad
69.7 sq mi
ZIP Area
701
Density / Sq Mi
$98,775
Median Household Income
$55,338
Median Earnings
$1,724
Median Rent
$450,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Newly built residential assets combine townhome layouts with two live-work residences across Spring Hill and Nashville.
Where is this apartment building located?
The property is located at 363-B Wells Chase Spring Hill, TN.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: 18 residential units across Spring Hill and Nashville; 16 townhomes at Preston Park in Spring Hill; Two live‑work residences at Hyde’s Landing in Nashville
