Building Details

Buildings 22

Listing Agency: RE/MAX Properties j***@remax.net Show Phone

Listed By: Tonya L Wilkey · License #328732 Show Phone

Source: Exprealty

Added: Apr 23 Changed: Sep 9 Last Checked: Oct 5 at 11:59PM

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Investment Insights

Based on property information with market context.

This residential portfolio comprises 22 duplexes with 44 total doors and 100% occupancy. The properties were built between 1990 and 2013 and have been maintained by the original owners. Floor plans range from two-bedroom units with a den and 1.5 baths to three-bedroom units with a den and two full baths, providing varied residential layouts across the portfolio.

Each unit includes a refrigerator, stove, dishwasher, and laundry hookups. Select units also offer 5x24 dry storage areas. The duplexes are located along Shawn Ridge Dr in Harrison, Tennessee, allowing the portfolio to be managed across a concentrated residential setting. The offering includes the entire group of duplexes on the street.

Key Highlights

• 22 duplexes comprising 44 total residential doors
• 100% occupied portfolio
• Built between 1990 and 2013

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$475,854

Cap Rate

7.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$9,517,080 $9.5M

Cap Rate 7%

$6,797,914 $6.8M

Cap Rate 9%

$5,287,267 $5.3M

Market Conditions

NOI Build-Up for 56,640 SF

Gross rent

$768.0K $13.56/SF

− Vacancy

−$88.2K −$1.56/SF

EGI

$679.8K $12.00/SF

− OpEx

−$203.9K −$3.60/SF

NOI

$475.9K $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%

$9,517,080

Cap Rate 7%

$6,797,914

Cap Rate 9%

$5,287,267

Alternative Uses

Best Use

Multifamily LT 5

$6.80M

$5.95M – $7.93M (±1% cap)

NOI $475,854 @ 7.0% cap · market cap 7.32%

Second Best

Apartment 5plus

$6.24M

$5.46M – $7.28M (±1% cap)

NOI $437,026 @ 7.0% cap · market cap 6.72%

Theoretical Best

Healthcare Medical

$9.41M

$8.23M – $10.97M (±1% cap)

NOI $658,398 @ 7.0% cap · market cap 10.13%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Restaurant Parking Lot & Garage Grocery & Convenience Store HVAC Service Computer & Electronic Repair Accounting Firm

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

44

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

27

Businesses Nearby

Explore this area Business Placement

Demographics for 37341, TN

12,900

Population

6,034

Households

2.1

Avg Household Size

45

Median Age

30%

College-Educated

95%

High-School Grad

33.8 sq mi

ZIP Area

382

Density / Sq Mi

$93,114

Median Household Income

$48,503

Median Earnings

$1,229

Median Rent

$264,300

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

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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 - Fully occupied duplex portfolio with 44 residential doors and in-unit appliances plus laundry hookups.

Where is this duplex located?

The property is located at 8498 Shawn Ridge Dr Harrison, TN.

What is the asking price?

The asking price for this property is $6,500,000.

What are key features of this property?

This property features: 22 duplexes comprising 44 total residential doors; 100% occupied portfolio; Built between 1990 and 2013