MVM Properties Acquires 99.7 Acres Of Land In Clarksville For $7.5M
475 Oakland Road Clarksville, Tennessee 37040, USA
$7,500,000
Building Size
—
Asset Type
Land
Closing
Jul 17, 2023
About this deal
AI
MVM Properties, a general partnership led by Mark Grant and J. Vernon Weakly, has closed a $7.5 million deal to acquire 99.7 acres of land in Clarksville, Tennessee. The property, located at 475 Oakland Road and adjacent to Interstate 24, recently underwent a zoning change, with half of the land now designated for commercial use and the other half zoned for apartments and commercial development.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $7,500,000
- Address: 475 Oakland Road, Clarksville, TN
- Market: Clarksville, TN
- Acres: 99.7
The sale was facilitated by MVM Properties - Mark Grant & J. Vernon Weakly, serving as the buyer's representatives. This purchase marks a significant acquisition for MVM Properties as they expand their portfolio in the Clarksville market.
Players
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Boundary boundary · Land · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93