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Aerospace Flats 451 Aerospace Way 42 Unit Apartment Building $5,814,900 CAD ($138,450 CAD/Unit) Nashville, TN 37217
INVESTMENT HIGHLIGHTS
- 42-Unit Multifamily Conversion: Former Motel Successfully Repositioned into Multifamily Housing, Offering Operational Stability with Upside
- Value-Add Opportunity: Interior Upgrades and Amenity Enhancements Can Further Boost Rents and NOI
- Close to Retail & Dining Corridors – Including Murfreesboro Pike and Harding Place with Options like Kroger, Walmart, and Local Restaurants
- Strong In-Place Returns: Generating a 6.3% Cap Rate on Current Income, Making it a Compelling Yield in Today’s Market
- Within 15 Minutes of Downtown Nashville – Access to Major Business Districts, Cultural Landmarks, and Entertainment Venues
- Conveniently Located Near Nashville International Airport (BNA) – Just 3 Miles Away, Offering Convenient Travel Access and Growing Infrastructure
EXECUTIVE SUMMARY
Aerospace Flats presents a rare opportunity to invest in a recently repositioned, 42-unit multifamily asset located just 15 minutes from downtown Nashville. Formerly a motel, this property has been successfully transformed into stable multifamily housing, already producing a strong in-place return with a 6.3% cap rate. Recent improvements to infrastructure and building systems—including the addition of kitchenettes in 15 units—reduce near-term capital expenditures and provide a solid operational foundation. The flexible unit mix lends itself to a variety of strategies, from workforce housing to short-term or extended-stay rentals, offering investors adaptability based on market demand and operator goals.
Aerospace Flats also benefits from a prime location with outstanding regional connectivity. It sits just 3 miles from Nashville International Airport and provides quick access to major interstates including I-40, I-24, and I-840. The property is also minutes from high-traffic retail and dining corridors like Murfreesboro Pike and Harding Place, home to Kroger, Walmart, and popular local eateries. Surrounded by major employers such as FedEx, Amazon, Asurion, and Bridgestone Americas, and with close proximity to Nashville’s cultural landmarks and business districts, Aerospace Flats offers both immediate yield and long-term upside in one of the Southeast’s fastest-growing markets.
Aerospace Flats also benefits from a prime location with outstanding regional connectivity. It sits just 3 miles from Nashville International Airport and provides quick access to major interstates including I-40, I-24, and I-840. The property is also minutes from high-traffic retail and dining corridors like Murfreesboro Pike and Harding Place, home to Kroger, Walmart, and popular local eateries. Surrounded by major employers such as FedEx, Amazon, Asurion, and Bridgestone Americas, and with close proximity to Nashville’s cultural landmarks and business districts, Aerospace Flats offers both immediate yield and long-term upside in one of the Southeast’s fastest-growing markets.
PROPERTY FACTS
| Price | $5,814,900 CAD | Building Class | C |
| Price Per Unit | $138,450 CAD | Lot Size | 0.63 AC |
| Sale Type | Investment | Building Size | 22,400 SF |
| No. Units | 42 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1967 |
| Property Subtype | Apartment | Cross Streets | McGavock Pike |
| Apartment Style | Low-Rise | ||
| Zoning | CS | ||
| Price | $5,814,900 CAD |
| Price Per Unit | $138,450 CAD |
| Sale Type | Investment |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.63 AC |
| Building Size | 22,400 SF |
| No. Stories | 2 |
| Year Built | 1967 |
| Cross Streets | McGavock Pike |
| Zoning | CS |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Property Manager on Site
- Walking/Biking Trails
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 42 | - | 545 |
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PROPERTY TAXES
| Parcel Number | 120-06-0-048 | Improvements Assessment | $73,919 CAD |
| Land Assessment | $70,209 CAD | Total Assessment | $144,129 CAD |
PROPERTY TAXES
Parcel Number
120-06-0-048
Land Assessment
$70,209 CAD
Improvements Assessment
$73,919 CAD
Total Assessment
$144,129 CAD
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Aerospace Flats | 451 Aerospace Way
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