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    1509 High School Dr Union City, TN 38261
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    Property profile & analytics

    1509 High School Dr Union City, TN 38261

    View on Map
    • Commercial real estate
    • 8.03 lot acres
    Off-Market
    Property ID
    US80-0979123
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Autumn Wood Apartments & Duplexes / Vacation Rental

    Property Details for 1509 High School Dr

    Year built
    1968
    Lot size
    8.03 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional value-add multifamily investment opportunity presents 64 units in Union City, TN, comprising an apartment complex and 8 duplexes across the street, totaling 8.03 acres. The property boasts a strong current NOI of $342,343, with a pro-forma NOI projected at $370,756, yielding an 8.61% cap rate and a pro-forma cap rate of 9.33%. The asking price is $3,975,000, translating to $62,109.38 per unit. Built in 1968, the property consists of 14 buildings, each two stories high, and features 32 fully renovated units, along with a fully renovated office and laundry facility. Significant recent improvements include roof replacements (duplexes 2014-2016, 8-plexes 2018), parking lot sealing and striping, enhanced security cameras, gutter and downspout repairs, HVAC unit replacements, and the addition of amenities such as picnic tables, a bike rack, and a swing set. The duplex units offer washer/dryer connections. Water and electric are individually metered for most units, with units 1-24 utilizing three separate meters. Plumbing consists of a mix of PVC and galvanized piping. Current rents are $84 below market rate, presenting a significant opportunity for increased revenue. This property offers a rare chance to acquire a well-located, value-add asset with substantial upside potential. All cash purchase required.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Union City
    County
    Obion
    State
    Tennessee
    Longitude
    -89.039075772587
    Latitude
    36.418222828778

    Comparable in this City

    • $137,900
      2,011 SF

      Union City Duplex Investment

      Updated duplex near downtown Union City, ready for immediate occupancy.
      414 S 5Th St, Union City, TN 38261
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      Union City Building Lots Available

      Residential land for sale in Union City, Tennessee.
      720 Miles Ave N, Union City, TN 38261
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    • $35,000

      Residential Building Lots in Union City

      Residential land for sale in Union City, Tennessee.
      212 Wilma Dr, Union City, TN 38261
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      Pending

      Union City Building Lots

      Land for sale in Union City, Tennessee.
      420 Gibbs St, Union City, TN 38261
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      Union City Building Lots

      Land for sale in Union City, Tennessee.
      604 Miles Ave N, Union City, TN 38261
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    • $443,700
      19.12 Acres

      Union City Building Lots

      19.12 acres of accessible land with city utilities.
      Miles Ave, Union City, TN 38261
      View Details

    Similar Nearby for Sale

    • $137,900
      2,011 SF

      Union City Duplex Investment

      Updated duplex near downtown Union City, ready for immediate occupancy.
      414 S 5Th St, Union City, TN 38261
      View Details
    • Contact for pricing

      Union City Building Lots Available

      Residential land for sale in Union City, Tennessee.
      720 Miles Ave N, Union City, TN 38261
      View Details
    • Contact for pricing
      Pending

      Union City Building Lots

      Land for sale in Union City, Tennessee.
      420 Gibbs St, Union City, TN 38261
      View Details
    • $443,700
      19.12 Acres

      Union City Building Lots

      19.12 acres of accessible land with city utilities.
      Miles Ave, Union City, TN 38261
      View Details
    • $35,000

      Residential Building Lots in Union City

      Residential land for sale in Union City, Tennessee.
      212 Wilma Dr, Union City, TN 38261
      View Details
    • Contact for pricing

      Union City Building Lots

      Land for sale in Union City, Tennessee.
      604 Miles Ave N, Union City, TN 38261
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Reelfoot Shopping Center Retail Space

      Retail space available in a busy, established shopping center.
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      Union City Industrial Facility

      254,295 SF industrial facility on 34 acres for lease.
      600 Sherwood Dr, Union City, TN 38261
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    • Contact for pricing

      600 Sherwood Dr, Union City, TN 38261

      Warehouses
      600 Sherwood Dr, Union City, TN 38261
      View Details
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    Union City, TN 38261
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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