Overview

Description

SVN | Accel Commercial Real Estate is pleased to bring to market this 9 unit portfolio with 2 additional lots to develop more units in Martin, TN. These units are townhome style with 2 bedrooms/1 and a half bathrooms. The property is 100% occupied with month to month leases in place well below market rent at $500. Market rent for this unit type in this area ranges from $900-$1000 giving an investor immediate upside. In addition, a potential investor has the opportunity to implement a light value-add strategy in order to achieve rents of $1100-$1250. Nothing has delivered over the past three years, and new supply will remain minimal in the near-term as no new construction is currently underway meaning limited competition.

Martin is the largest city in Weakley County, Tennessee and home of the University of Tennessee at Martin. Located along the path of U.S. Route 45E, the city is approximately 10 miles southeast of the U.S. Route 51 interchange just below the Kentucky-Tennessee state line. The city is also three miles northeast of State Route 22, which connects to I-40 less than 50 miles south of Martin. Just minutes from SR-22 and US 45E, it also has convenient access to employment and entertainment in nearby cities such as Union City, Dresden and Greenfield.

Highlights

• 9 Townhome style units - 2 bedroom 1.5 bathrooms
• $400-$500 below market rents
• Value-add opportunity
• Washer/Dryer in each unit
• 2 additional lots to add more units

Documents

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