Pike Place Apartments & Aerospace Flats
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Pike Place Apartments & Aerospace Flats
2 Multifamily Properties Offered at $8,800,000 in Nashville, TN
Investment Highlights
- Rents at Pike Place Apartments are currently $170 below market rate
- 20 units have been renovated at Aerospace Flats with new floors, cabinetry, paint, and bathrooms
- $300,000 Spent on capital improvements in the last 36 months at Aerospace Flats
- 8.4 Mile (12 minutes) drive from downtown Nashville
Executive Summary
Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/84788/pike-place-aerospace-flats
Marcus & Millichap has been selected to exclusively market for sale these two properties in Nashville, TN. This offering will allow a potential investor to purchase a rare value-add opportunity located in Nashville, TN.
Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing.
AT NO POINT SHOULD TENANTS OR STAFF BE CONTACTED REGARDING THE SALE OF PIKE PLACE APARTMENTS & AEROSPACE FLATS.
Marcus & Millichap has been selected to exclusively market for sale these two properties in Nashville, TN. This offering will allow a potential investor to purchase a rare value-add opportunity located in Nashville, TN.
Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing.
AT NO POINT SHOULD TENANTS OR STAFF BE CONTACTED REGARDING THE SALE OF PIKE PLACE APARTMENTS & AEROSPACE FLATS.
Property Facts
| Price | $8,800,000 | Number of Properties | 2 |
| Price / SF | $183.56 / SF | Individually For Sale | 0 |
| Cap Rate | 5.65% | Total Building Size | 47,940 SF |
| Sale Type | Investment | Total Land Area | 1.07 AC |
| Status | Active |
| Price | $8,800,000 |
| Price / SF | $183.56 / SF |
| Cap Rate | 5.65% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 47,940 SF |
| Total Land Area | 1.07 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Aerospace Flats
451 Aerospace Way, Nashville, TN 37217 |
Multifamily | 22,400 SF | 1967 | - |
|
Pike Place Apartments
1274 Murfreesboro Pike, Nashville, TN 37217 |
Multifamily | 25,540 SF | 1967 | - |
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Pike Place Apartments & Aerospace Flats
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