925 Tiny Town Rd Clarksville, TN 37042

Property Details for 925 Tiny Town Rd

Year built

2012

Lot size

21.00 lot acres

Property size

914,760 SF

Property type

Apartment buildings

Description

This exceptional multifamily investment opportunity, The Centre, presents a compelling prospect for discerning investors. Located at 925 Tiny Town Rd, Clarksville, TN 37042, this stabilized Class B apartment building boasts 169 units across 47 buildings, totaling 914,760 square feet, with 191,840 square feet of net rentable space. Built between 2012 and 2019 and renovated in 2022, the property features a desirable mix of 2-bedroom and 3-bedroom townhomes and flats, ranging from 960 to 1145 square feet. Amenities include a fitness center, dog park, playground, picnic area, ample parking (358 spaces), an electronic gated entrance, and exceptional landscaping. The property sits on 21 acres and benefits from a prime location near Fort Campbell, Austin Peay University, Clarksville Regional Airport, and various retail and entertainment options. Currently operating at 99% occupancy, the property generates a strong NOI of $1,618,757, with a pro-forma NOI of $1,721,716, resulting in a 5.62% cap rate and a pro-forma cap rate of 5.96%. The asking price is $28,899,000, representing a price per unit of $171,000 and a price per square foot of $31.59. The property is zoned R-4 and is offered fee simple. Individual unit features include private patios, kitchen appliances (refrigerator, stove, microwave), granite countertops, and washer/dryer connections in 31 units. Water, sewer, and electricity are individually metered. This is a rare opportunity to acquire a high-performing, well-maintained multifamily asset in a thriving market.

Location Insight

City

Clarksville

County

Montgomery

State

Tennessee

Longitude

-87.398

Latitude

36.6313