12-Unit New Construction Boutique Multifamily | 1655 Evans Rd
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12-Unit New Construction Boutique Multifamily 1655 Evans Rd
12 Apartment Units Online Auction Sale Clarksville, TN 37042
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Investment Highlights
- New construction three-building, 12-unit multifamily asset with an exceptional location just north of downtown Clarksville, Tennessee.
- Strong location on Evans Road, just off highly trafficked Purple Heart Parkway & Alt Route 41, allowing easy access to Clarksville & Fort Campbell.
- Property is located in a federally designated Opportunity Zone, creating potential tax benefits for a new owner.
- Property comprises three four-unit buildings, all of which are two-bedroom, 1.5-bathroom units with luxurious finishes and a spacious back deck area.
- Growing 10-mile population north of 214,000 residents, 49% of which are renters, and the population is expected to rise to roughly 248,200 by 2029.
Executive Summary
KW Commercial | Clarksville is pleased to exclusively present a rare investment offering to acquire a 12-unit trio of new construction multifamily assets with a fantastic location off Purple Heart Parkway in Clarksville, Tennessee. 1655 Evans Road was constructed in September 2024, providing a new owner with an impeccable asset that has never been occupied. The property resides on a spacious 3.40-acre lot with R4 residential zoning. The offering comprises three four-unit buildings, all of which have two bedrooms and 1.5 bathrooms. There are 26 surface-level parking spaces for residents, ensuring all have convenient parking. All units feature high-end appliances and amenities and have tremendous natural lighting.
1655 Evans Road sits just off Evans Road and near Purple Heart Parkway, Lafayette Road, and Alt Route 41, providing smooth access to Downtown Clarksville and Fort Campbell. The property is located within 3 miles of multiple schools, including Minglewood Elementary School, Northwest High School, and Liberty Elementary School, making it a convenient choice for parents. There are countless nearby amenities, including Walmart Supercenter, Aldi, Walgreens, Ollie's Bargain Outlet, Dollar Tree, Planet Fitness, Taco Bell, Wendy's, and much more.
The Clarksville area has seen tremendous growth in the past decade, which is expected to continue as more people relocate to the Volunteer State. Currently, the 10-mile population exceeds 214,670 residents with a strong average household income above $70,700 and total specified consumer spending above $2.2 billion. This population is expected to rise to roughly 248,200 residents by 2029, a 3.1% increase. The 10-mile population comprises 49% renters and 51% owner-occupant households, but more residents will necessitate apartment living as the population continues to grow and Clarksville continues to expand.
1655 Evans Road is a prime investment opportunity with tremendous upside through a strategic lease-up in a dynamic and thriving northern Tennessee metro.
1655 Evans Road sits just off Evans Road and near Purple Heart Parkway, Lafayette Road, and Alt Route 41, providing smooth access to Downtown Clarksville and Fort Campbell. The property is located within 3 miles of multiple schools, including Minglewood Elementary School, Northwest High School, and Liberty Elementary School, making it a convenient choice for parents. There are countless nearby amenities, including Walmart Supercenter, Aldi, Walgreens, Ollie's Bargain Outlet, Dollar Tree, Planet Fitness, Taco Bell, Wendy's, and much more.
The Clarksville area has seen tremendous growth in the past decade, which is expected to continue as more people relocate to the Volunteer State. Currently, the 10-mile population exceeds 214,670 residents with a strong average household income above $70,700 and total specified consumer spending above $2.2 billion. This population is expected to rise to roughly 248,200 residents by 2029, a 3.1% increase. The 10-mile population comprises 49% renters and 51% owner-occupant households, but more residents will necessitate apartment living as the population continues to grow and Clarksville continues to expand.
1655 Evans Road is a prime investment opportunity with tremendous upside through a strategic lease-up in a dynamic and thriving northern Tennessee metro.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per Unit
Clarksville - TN USA
Market Cap Rate
Clarksville - TN USA
Market Sale Price per Unit by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per Unit Distribution
Market Cap Rate Distribution
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Sale Type | Investment | Lot Size | 3.40 AC |
| Sale Conditions | Auction Sale | Building Size | 12,060 SF |
| No. Units | 12 | Average Occupancy | 0% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 2024 |
| Apartment Style | Townhome | Parking Ratio | 2.16/1,000 SF |
| Building Class | B |
| Sale Type | Investment |
| Sale Conditions | Auction Sale |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 3.40 AC |
| Building Size | 12,060 SF |
| Average Occupancy | 0% |
| No. Stories | 1 |
| Year Built | 2024 |
| Parking Ratio | 2.16/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 12 | $1,756 CAD | 1,006 |
zoning
| Zoning Code | R4 (16 Units per 1ac) |
| R4 (16 Units per 1ac) |
Sale Advisor
Sale Advisor
James Church
(931) 648-8500
Contact
As a seasoned lender with deep roots in Tennessee and California, I've dedicated over 17 years to building strong relationships with clients and exceeding their expectations, with a proven track record of top-tier sales performance, I've consistently ranked among the best in the industry. My expertise lies in commercial real estate lending and advising business owners on strategies to achieve their financial goals. I'm passionate about helping clients diversify their income streams and maximize their investments. My extensive experience in mortgage origination, consumer and business banking, and wealth management ensures a comprehensive approach to their needs. Beyond my lending role, I'm committed to giving back to the community. I've served on the Advisory Board for Tennessee Small Business Development Center, advocating for small business owners and fostering economic growth.
Specialty:
Industrial, Multi-Family, Office, Shopping Center / Retail, Special Purpose / Other
Services:
Investment Sales, Tenant Rep, Residential
Specialty:
Industrial, Multi-Family, Office, Shopping Center / Retail, Special Purpose / Other
Services:
Investment Sales, Tenant Rep, Residential
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Molly Patten
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 265318. (888) 952-6393
-
James Church -
Keller Williams Realty | KW Commercial
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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12-Unit New Construction Boutique Multifamily | 1655 Evans Rd
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