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 Market52
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) 624-7629
Source:
Northnashvillehomes4sale
Added: Sep 3
Changed: Oct 6
Last Checked: Oct 23 at 7:26AM
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
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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 / Yr
$37,423
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,654
Businesses Nearby
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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
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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
