2245 Spring Place Rd SE - Apartments FOR SALE


Cleveland, TN 37323
$269,900 USD
423-715-7999
2245 Spring Place Rd SE, Cleveland, TN for Sale
$269,900 USD
Apartments - FOR SALE
1/5
null | 11.13% Cap Rate

2245 Spring Place Rd SE
Cleveland, TN 37323


HIGHLIGHTS

  • Main Road leaving Cleveland to the West
  • Near Interstate Bypass
  • 2 lane near other plazas

OVERVIEW

Great multi-use property with long term tenant in the commercial space as well as a duplex. Duplex and Commercial Building share the same lot. Approx Income Apt 1 950 Apt 2 800 Com 1225 Commerical Lease increases to 1347.50 May 2028 20 yr lease 10% escalation every 5 years Lease started May 2023 Insurance Expense: 1,852; New Taxes Expense: 1,798.37; Total Actual Rent: 2,950; Trash Expense: 1,236; Water Sewer Expense: 840

FOR SALE DETAILS

PRICE

$269,900 USD

PRICE/SF

$78 USD /SF

# OF UNITS

3

PRICE/UNIT

$89,967

CAP RATE

11.13%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2245 Spring Place Rd

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

Commerical

APN/PARCEL ID

066G G 024.00

ASK ABOUT THIS PROPERTY

Duane GoffNew Ventures RealtyMore Info
423-715-7999

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Duane GoffNew Ventures RealtyMore Info
423-715-7999

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.