Residential Income
For Sale
$675,000
511 Main St, Clarksville, TN 37040
Residential income asset near Austin Peay State University and Downtown Clarksville.
Property Size4,640 SF
Price / SF$145.47
Days on Market10
Property Features for 511 Main St
General Information
Standard status
Active
Size
4,640 SF
Property subtype
Residential Income
Building Details
Year Built
1997
Listing Agency:
Coldwell Banker Southern Realty
Listed By:
Mark Holleman 9316247629 · License #234481
(931) 552-1700
Source:
Northnashvillehomes4sale
Added: Aug 30
Changed: Sep 8
Last Checked: Sep 8 at 8:29AM
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 Coldwell Banker Southern Realty
Investment Insights
Based on property information with market context.
This residential income property offers 4,640 square feet of space and was built in 1997. The asset is located at 511 Main St in Clarksville, Tennessee, providing proximity to Austin Peay State University and Downtown Clarksville.
Key Highlights
- 4,640‑square‑foot residential income property
- Built in 1997
- Located at 511 Main St, Clarksville, TN 37040
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
$37,423
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
5.54%
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%
$748,460
$748.5K
Cap Rate 7%
$534,614
$534.6K
Cap Rate 9%
$415,811
$415.8K
Market Conditions
NOI Build-Up for 4,640 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
$72.4K $15.60/SF
− Vacancy
−$4.3K −$0.94/SF
EGI
$68.0K $14.66/SF
− OpEx
−$30.6K −$6.60/SF
NOI
$37.4K $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%
$748,460
Cap Rate 7%
$534,614
Cap Rate 9%
$415,811
Alternative Uses
Best Use
Apartment 5plus
$534.6K
$467.8K – $623.7K
NOI $37,423 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$778.9K
$681.5K – $908.7K
NOI $54,522 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,654
Businesses Nearby
Explore this area
Business Placement
Demographics for 37040, TN
60,382
Population
24,628
Households
2.5
Avg Household Size
31
Median Age
30%
College-Educated
94%
High-School Grad
92.8 sq mi
ZIP Area
651
Density / Sq Mi
$65,331
Median Household Income
$40,621
Median Earnings
$1,177
Median Rent
$242,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Residential income asset near Austin Peay State University and Downtown Clarksville.
Where is this residential income property located?
The property is located at 511 Main St Clarksville, TN.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 4,640‑square‑foot residential income property; Built in 1997; Located at 511 Main St, Clarksville, TN 37040
