1274 Murfreesboro Pike
Nashville, TN 37217
451 Aerospace Way & Pike Place · Multifamily Property For Sale

Aerospace Flats & Pike Place Portfolio presents a compelling two-property multifamily investment totaling 74 units in a highly accessible Nashville submarket. The portfolio consists of Aerospace Flats, a 42-unit former motel that has been successfully repositioned into multifamily housing and offers operational stability with additional upside, and Pike Place, a 32-unit property featuring a clear value-add opportunity supported by light interior upgrades. The portfolio is currently generating a strong 6.3% in-place cap rate, providing an attractive yield in today’s market while allowing investors to further enhance rents and NOI through continued interior improvements and targeted amenity upgrades. The flexible unit mix supports multiple strategies, including workforce housing or short-term/extended-stay concepts, depending on operator objectives.
Aerospace Flats has benefited from recent capital improvements, including modernized infrastructure and building systems and the addition of kitchenettes in 15 units, reducing near-term capital requirements. Both properties are strategically located within 15 minutes of Downtown Nashville, offering convenient access to major employment centers, cultural destinations, and entertainment venues. The portfolio is situated near key retail and dining corridors along Murfreesboro Pike and Harding Place, just three miles from Nashville International Airport (BNA), and provides quick access to I-40, I-24, and I-840. The surrounding area is supported by a strong employment base, with nearby employers including FedEx, Amazon, Asurion, and Bridgestone Americas, further reinforcing long-term demand.