Commercially Zoned
5213 Austin Peay Hwy, Westmoreland, TN 37186
For Sale
$99,000
Three individually metered residences offer residential rental use under commercial zoning.
Property Size2,761 SF
Price / SF$35.86
Days on Market140
Property Features for 5213 Austin Peay Hwy
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Additional Details
Tenant in Place
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Realty One Group Music City
(615) 636-8244
Listed By:
Cara Hermes
(931) 334-3595
Source:
Concordrealty
Added: Jun 23
Changed: Nov 8
Last Checked: Nov 9 at 5:38PM
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 Realty One Group Music City
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Investment Insights
Based on property information with market context.
This 2,761-square-foot triplex contains three separate units, each with two bedrooms, one bathroom, and a kitchen. One unit is leased; the other two are undergoing renovation. Property improvements include a new roof, two HVAC units, and new flooring. Each residence has its own utility meter, and the property was built in 1950.
Commercial zoning supports a range of potential uses. The property is in a downtown setting, across from established businesses, with road frontage.
Commercial zoning supports a range of potential uses. The property is in a downtown setting, across from established businesses, with road frontage.
Key Highlights
- Three units, each with 2 bedrooms and 1 bathroom
- 2,761 square feet; built in 1950
- One unit leased; two units undergoing renovation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,161
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$143,220
$143.2K
Cap Rate 7%
$102,300
$102.3K
Cap Rate 9%
$79,567
$79.6K
Market Conditions
NOI Build-Up for 2,761 SF
Gross rent
$33.8K $12.24/SF
− Vacancy
−$23.6K −$8.53/SF
EGI
$10.2K $3.71/SF
− OpEx
−$3.1K −$1.11/SF
NOI
$7.2K $2.59/SF
Area
Sumner County, TN
Vacancy
69.73%
Lease Rate
$12.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$143,220
Cap Rate 7%
$102,300
Cap Rate 9%
$79,567
Alternative Uses
Best Use
Mixed Use
$479.2K
$419.3K – $559.1K
NOI $33,546 @ 7.0% cap
Second Best
Multifamily LT 5
$102.3K
$89.5K – $119.4K
NOI $7,161 @ 7.0% cap · market cap 7.23%
Theoretical Best
Specialty Retail
$966.4K
$845.6K – $1.13M
NOI $67,650 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
33.3%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 37186, TN
10,263
Population
4,168
Households
2.5
Avg Household Size
39
Median Age
9%
College-Educated
82%
High-School Grad
107.9 sq mi
ZIP Area
95
Density / Sq Mi
$57,133
Median Household Income
$35,433
Median Earnings
$970
Median Rent
$193,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three individually metered residences offer residential rental use under commercial zoning.
Where is this triplex located?
The property is located at 5213 Austin Peay Hwy Westmoreland, TN.
What is the asking price?
The asking price for this property is $99,000.
What are key features of this property?
This property features: Three units, each with 2 bedrooms and 1 bathroom; 2,761 square feet; built in 1950; One unit leased; two units undergoing renovation
