Building Details

Building Size 2,368 SF

Year Built 1994

Buildings 1

Listing Agency: Crye-Leike, REALTORS

Listed By: Mac Hibbett · License #TN321037 Show Phone

Source: Gracefrankgroup

Added: Oct 10 Changed: Oct 13 Last Checked: Oct 13 at 2:34AM

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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 Crye-Leike, REALTORS

Investment Insights

Based on property information with market context.

Built in 1994, this duplex contains approximately 2,368 square feet across two residences, each with 2 bedrooms and 1.5 bathrooms. One unit has received fresh interior paint, new luxury vinyl tile flooring on the lower level, and new carpet upstairs. A rear deck, oversized yard, and freshly paved off-street parking round out the property’s exterior features. One unit is currently rented.

The property is near Collegedale, Ooltewah, Southern Adventist University, Cambridge Square, and Collegedale Municipal Airport. Shopping, dining, Interstate 75, and employment centers including Volkswagen, Amazon, and Enterprise South are also identified in the surrounding area.

Key Highlights

• Approximately 2,368 square feet across two units
• Each unit has 2 bedrooms and 1.5 bathrooms
• One residence has fresh paint, new downstairs LVT, and new upstairs carpet

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,894

Cap Rate

5.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$397,880 $397.9K

Cap Rate 7%

$284,200 $284.2K

Cap Rate 9%

$221,044 $221.0K

Market Conditions

NOI Build-Up for 2,368 SF

Gross rent

$32.1K $13.56/SF

− Vacancy

−$3.7K −$1.56/SF

EGI

$28.4K $12.00/SF

− OpEx

−$8.5K −$3.60/SF

NOI

$19.9K $8.40/SF

Area

Hamilton County, TN

Vacancy

11.49%

Lease Rate

$13.56 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$397,880

Cap Rate 7%

$284,200

Cap Rate 9%

$221,044

Alternative Uses

Best Use

Multifamily LT 5

$284.2K

$248.7K – $331.6K (±1% cap)

NOI $19,894 @ 7.0% cap · market cap 5.04%

Second Best

Apartment 5plus

$261.0K

$228.4K – $304.5K (±1% cap)

NOI $18,271 @ 7.0% cap · market cap 4.63%

Theoretical Best

Healthcare Medical

$393.2K

$344.1K – $458.8K (±1% cap)

NOI $27,526 @ 7.0% cap · market cap 6.97%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Dental Office Building Supply Electrical Service Real Estate Agency Kitchen & Bath Showroom Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

22

Businesses Nearby

Explore this area Business Placement

Demographics for 37302, TN

4,934

Population

2,139

Households

2.3

Avg Household Size

41

Median Age

39%

College-Educated

93%

High-School Grad

17.3 sq mi

ZIP Area

285

Density / Sq Mi

$103,578

Median Household Income

$53,059

Median Earnings

$950

Median Rent

$371,600

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Each residence has two bedrooms and one-and-a-half bathrooms, with paved off-street parking and outdoor space.

Where is this duplex located?

The property is located at 5031 Bess Moore Road Apison, TN.

What is the asking price?

The asking price for this property is $395,000.

What are key features of this property?

This property features: Approximately 2,368 square feet across two units; Each unit has 2 bedrooms and 1.5 bathrooms; One residence has fresh paint, new downstairs LVT, and new upstairs carpet