All-Brick Three-Unit
For Sale
$350,000
88 W Fork Dr, Clarksville, TN 37042
Three residential units with separate utility meters, replacement windows, hardwood floors, and appliance packages.
Property Size1,875 SF
Price / SF$186.67
Days on Market32
Property Features for 88 W Fork Dr
General Information
Standard status
Active
Size
1,875 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,870
Listing Agency:
Byers & Harvey Inc.
(931) 237-4137
Listed By:
Sydney B. Hedrick · License #286039
(931) 237-4137
Source:
Exprealty
Added: Jul 22
Changed: Aug 20
Last Checked: Aug 22 at 11:40AM
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 Byers & Harvey Inc.
Investment Insights
Based on property information with market context.
This 1,875-square-foot, all-brick triplex contains three residential units. Units A and B each have one bedroom and one bathroom, while Unit C provides two bedrooms and one bathroom. Unit B is vacant, and Units A and C are leased. Interior features include hardwood flooring, vinyl replacement windows, included appliances, and hookups for stackable washers and dryers.
Each unit has its own electric meter, and the property includes three water meters. The property is located at 88 W Fork Dr in Clarksville, Tennessee, within minutes of Fort Campbell, schools, shopping, and dining. The unit configuration includes a one-bedroom vacancy alongside two leased units, with the larger two-bedroom layout in Unit C.
Each unit has its own electric meter, and the property includes three water meters. The property is located at 88 W Fork Dr in Clarksville, Tennessee, within minutes of Fort Campbell, schools, shopping, and dining. The unit configuration includes a one-bedroom vacancy alongside two leased units, with the larger two-bedroom layout in Unit C.
Key Highlights
- 1,875‑square‑foot all‑brick triplex
- Unit mix includes two 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit
- Unit B is vacant; Units A and C are leased
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
$16,935
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
4.84%
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%
$338,700
$338.7K
Cap Rate 7%
$241,929
$241.9K
Cap Rate 9%
$188,167
$188.2K
Market Conditions
NOI Build-Up for 1,875 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
$25.9K $13.80/SF
− Vacancy
−$1.7K −$0.90/SF
EGI
$24.2K $12.90/SF
− OpEx
−$7.3K −$3.87/SF
NOI
$16.9K $9.03/SF
Area
Clarksville, TN
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$338,700
Cap Rate 7%
$241,929
Cap Rate 9%
$188,167
Alternative Uses
Best Use
Multifamily LT 5
$241.9K
$211.7K – $282.3K
NOI $16,935 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$216.0K
$189.0K – $252.0K
NOI $15,122 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$314.7K
$275.4K – $367.2K
NOI $22,032 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 37042, TN
83,498
Population
35,433
Households
2.4
Avg Household Size
29
Median Age
26%
College-Educated
94%
High-School Grad
56.9 sq mi
ZIP Area
1,467
Density / Sq Mi
$66,435
Median Household Income
$38,716
Median Earnings
$1,196
Median Rent
$220,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units with separate utility meters, replacement windows, hardwood floors, and appliance packages.
Where is this triplex located?
The property is located at 88 W Fork Dr Clarksville, TN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,875‑square‑foot all‑brick triplex; Unit mix includes two 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit; Unit B is vacant; Units A and C are leased
