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107 Penny Ln

Martin, TN 38237

– beds
– baths
8,766 sqft
$62 per sqft
1996 build
– on site

More homes

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. Consisting of 107 & 108 Penny and 203 Hillsboro Rd. 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. Please contact advisors for more information. Do not disturb tenants at any time!

Listing courtesy of REALTRACS / SVN Accel Commercial Real Estate

Last checked: Checking… • Last updated Jul 2, 2024 •

MLS# 2591291 —

The Building

Year Built:

1996
Year Built Effective:

1996
Year Built Details:

EXIST
New Construction:

false
Construction Materials:

Brick, Vinyl Siding
Stories:

2
Levels:

One
Structure Type:

Multi Family
# of Units Total:

9
Building Area Units:

Square Feet
Building Area Total:

8766
Building Area Source:

Assessor
Above Grade Finished Area:

8766
Above Grade Finished Area Units:

Square Feet
Above Grade Finished Area Source:

Assessor
Below Grade Finished Area Source:

Assessor
Below Grade Finished Area Units:

Square Feet

Interior

Flooring:

Carpet
Fireplace:

false

Room Dimensions

Living Area:

8766
Living Area Units:

Square Feet
Living Area Source:

Assessor

Location

Directions:

From Nashville, take I-40W (100 mi) to TN-22N/exit 108. Continue on to Penny Lane in Martin, TN. (51.2 mi)
Latitude:

36.35199767
Longitude:

-88.83701626

The Property

Parcel Number:

072G A 00200 000
Property Type:

Residential Income
Lot Size Units:

Acres
Zoning:

COM
View:

false
Property Attached:

true

Listing Agent

Contact info:

Taxes

Tax Annual Amount:

4827

The Listing

Map Coordinate:

36.3519976700000000 -88.8370162600000000
Special Listing Conditions:

Standard

Heating & Cooling

Heating:

Central
Heating:

true
Cooling:

Central Air
Cooling:

true

Utilities

Utilities:

Water Available
Sewer:

Public Sewer
Water Source:

Public

Schools

Elementary School:

Martin Elementary
Middle Or Junior School:

Martin Middle School
High School:

Westview High School

The Community

Subdivision Name:

Ridge Top
Waterfront:

false
Pool Private:

false
Association:

false

Parking

Garage:

false
Attached Garage:

false
Carport:

false

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Sale history

Date	Event	Source	Price	% Change
3/11/24 Mar 11, 2024	Sold	REALTRACS	$550,000	-8.2%
2/9/24 Feb 9, 2024	Pending	REALTRACS	$599,000
2/6/24 Feb 6, 2024	Relisted	REALTRACS	$599,000

Multifamily Sold on 3/11/2024

$550,000

Listing provided by broker:

Brian Truman

SVN Accel Commercial Real Estate

6152602121

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Listing Courtesy of: REALTRACS and SVN Accel Commercial Real Estate.

The data relating to this real estate for sale on this websites comes in part courtesy of the IDX program of the REALTRACS MLS. Real estate listings held by brokerage firms other than Estately are marked with the REALTRACS IDX Logo. REALTRACS and Estately deem all information reliable but not guaranteed, and should be independently verified. REALTRACS and Estately assume no responsibility for typographical errors, misprints or misinformation.

REALTRACS, Estately and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

107 Penny Ln

Martin, TN 38237