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Listed by Maha Hindiyeh • simpliHOM
$650,000
Est. payment /mo
9,600 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 9,600 sqft
Price per Sqft $67
MLS Listing ID 3097851
Year Built 1965
Lot Size 0.550 Acres
Acres 0.55
Property Sub-Type Mixed Use
Property Description
Prime Riverfront Plaza consisting of two adjoining properties – 207 & 211 N Riverside Dr – being sold together as one investment package. Combined, these parcels total 0.55 acres with approximately 9,600 SQFT across two buildings, including one high-visibility corner lot. Located just one minute from Downtown Clarksville and Austin Peay State University, this property benefits from constant traffic and strong tenant demand.
207 N Riverside Dr features a building with two fully leased spaces, each approximately 2,400 SQFT.
211 N Riverside Dr includes a 2,400 SQFT building, with the ground floor leased and the second floor currently vacant. The upper floor has a separate entrance on the side of the building, providing flexibility for office, studio, or retail use.
Current NOI is $132K–$144K/year (~$11K–$12K/month), offering a cap rate of 7.1%–7.8% at the asking price. With lease-up of the vacant second floor, market rent adjustments, conversion to NNN leases, and a city-approved ±4,000 SQFT extension, the projected NOI exceeds $240K/year (~$20K+/month), supporting a 12%+ cap rate.
This rare offering provides both secure in-place income and substantial upside potential, making it ideal for 1031 exchange buyers, private investors, and investment groups.
207 N Riverside Dr features a building with two fully leased spaces, each approximately 2,400 SQFT.
211 N Riverside Dr includes a 2,400 SQFT building, with the ground floor leased and the second floor currently vacant. The upper floor has a separate entrance on the side of the building, providing flexibility for office, studio, or retail use.
Current NOI is $132K–$144K/year (~$11K–$12K/month), offering a cap rate of 7.1%–7.8% at the asking price. With lease-up of the vacant second floor, market rent adjustments, conversion to NNN leases, and a city-approved ±4,000 SQFT extension, the projected NOI exceeds $240K/year (~$20K+/month), supporting a 12%+ cap rate.
This rare offering provides both secure in-place income and substantial upside potential, making it ideal for 1031 exchange buyers, private investors, and investment groups.
Location
State TN
County Montgomery County
Zoning Commercial
Interior
Fireplace N
Others
Special Listing Condition Standard
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Leigh Ann Parkinson
REALTOR® Agent ABR® SRS® | License ID: 357037
REALTOR® Agent ABR® SRS® License ID: 357037