11513 Aaron Ln Nunnelly, TN 37137

Property Details for 11513 Aaron Ln

Year built

2001

Lot size

4.28 lot acres

Property size

7,056 SF

Property type

Commercial real estate

Description

This stabilized multifamily investment property, located at 11513 Aaron Ln, Nunnelly, TN 37137, offers a compelling opportunity for income generation and future appreciation. The 7,056 square foot complex consists of nine units spread across five one-story buildings situated on a 4.28-acre lot. Built in 2001, the property boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $69,900, resulting in a 7.56% cap rate. The asking price is $925,000, translating to $102,777.78 per unit and $131.09 per square foot. Each unit features separate water, electric, and trash meters, and each building has its own septic tank. Recent renovations include new flooring (tile and LVP), interior paint, bathroom updates, and the installation of four washer/dryer connections. All HVAC systems and roofs have been replaced within the last five years. The unit mix comprises five 2-bedroom/1-bathroom units, three 3-bedroom/1-bathroom units, and one 1-bedroom/1-bathroom unit. Currently, rents average approximately $822 per month, presenting significant upside potential given below-market rates and the property's proximity to Nashville (56 miles). The property is deeded as two separate properties, with two buildings on one parcel and three on another. An onsite laundry facility is available for tenant use. The owner pays water for one unit due to shared metering with the laundry room

Location Insight

City

Nunnelly

County

Hickman

State

Tennessee

Longitude

-87.472487

Latitude

35.857201