- For Sale $13,500,000
- Property Type Other
- Property Size 80,668 SF
- Units 77
- Year Built 2018
- Date Updated Apr 26, 2024
- Website main608.sharplaunch.com
Completed in 2018, Main 608 is a modern student community located in the heart of Downtown Clarksville and steps from Austin Peay State University’s campus. It is the closest off-campus student living complex to the University in the market.
Main608 is comprised of 77 units, with 156 bedrooms, offering students one-, two-, or three-bedroom options. Currently, the property is 99% occupied and 23% pre-leased for the 2024-25 academic year. The University maintains 11 residence buildings on campus providing accommodations for ±1,800 students. Roughly 15% of students live on campus leaving 85% of students in the private student housing market.
The recently constructed asset offers students private bathrooms, with all units having one-to-one bed/bath parity. The community has upscale amenities including a modern lounge area, private and group study rooms, a state-of-the-art fitness center, an outdoor patio, a rooftop terrace with panoramic views, and electronic building access. Leases are signed by each individual for specific bedrooms. The units feature furnished interiors, wood-style flooring, a common area flat-screen TV, refrigerator, dishwasher, microwave, stackable washers and dryers, and large, oversized windows. All utilities are included in the rent including electricity not to exceed $25 per lease.
Clarksville borders Kentucky and the Cumberland River. Just a short drive Northwest of Nashville, Clarksville is ideally located within the state. It has experienced strong market conditions in recent years. Tennessee is a business-friendly state and the economy has greatly benefited from the prime market conditions.
Main608 presents an excellent opportunity for an investor to acquire a solid-performing student housing asset in a thriving market.
Barden Brown | Tennessee Broker of Record | ID #279311 | 678.894.2221 | [email protected]
Want more info on this listing?
Reach out to the broker for more info on lease terms and amenities
Attachments
Highlights
- Closest Off-Campus Asset to Campus: 0.12 miles of APs campus offering students the easiest commute to classes while also being in the heart of Downtown Clarksville
- Tax Incentive Financing Zone: Property is located in a tax incentive zone within the County and receives significant tax savings
- Strong Occupancy & Pre-Leasing: Rates 99% Occupied and 23% pre-leased for the 2024-25 school year
- Low Pipeline Delivery: No planned student housing properties in the pipeline; no student competitive properties delivering in 2024
- Positive Market Fundamentals: Employment rate increasing year-over-year; rent growth rising and vacancy at record lows in Clarksville
False
Contacts
Barden Brown
GREA
(678) 894-2221
Ken Wellar
GREA
(215) 454-2879
Steffan Ramos
GREA
(305) 999-5155
Location
Getting Around
-
Walk Score ®
Very Walkable (73) -
Bike Score ®
Somewhat Bikeable (43)
- City Clarksville, TN
- Neighborhood Clarksville
- Zip Code 37040
Points of Interest
-
Hi-Lo
0.60 miles
-
Mini mart
0.75 miles
-
Speedway
1.75 miles
-
Mapco Express
2.40 miles
-
Walmart Fuel Center
2.82 miles
-
Exxon
2.90 miles
-
Kroger Fuel Center
2.93 miles
-
Q-Pump
3.50 miles
-
Kangaroo Express
3.78 miles
-
Kroger
3.99 miles
-
Lot 10
0.07 miles
-
Lot 56
0.09 miles
-
Lot 41
0.14 miles
-
Lot 30
0.17 miles
-
Lot 40
0.17 miles
-
Lot 28
0.20 miles
-
Lot 43
0.20 miles
-
Lot 24
0.20 miles
-
Lot 79
0.22 miles
-
Lot 29
0.22 miles
-
Jib Bop
0.05 miles
-
Plumb Line Coffee
0.06 miles
-
Mediterranean Grill
0.08 miles
-
Johnny's Big Burger
0.16 miles
-
Morgan University Center
0.23 miles
-
Subway
0.28 miles
-
Martha Dickerson Eriksson Hall
0.31 miles
-
Roux
0.40 miles
-
Kooka's Nest
0.42 miles
-
Edward's Steakhouse
0.44 miles
-
Austin Peay State University
0.23 miles
-
Burt School
0.48 miles
-
Greenwood Middle School
0.51 miles
-
Clarksville Academy
0.71 miles
-
Smith Elementary School
0.86 miles
-
Moore Elementary School
1.10 miles
-
Byrns Darden Elementary School
2.10 miles
-
Cumberland Heights Elementary School
2.96 miles
-
Barksdale School
3.14 miles
-
Needmore School
3.83 miles
-
First Baptist Church Preschool
0.22 miles
-
Peachers Mill Academy
3.10 miles
-
Lafayette Head Start Center
3.12 miles
-
Kenwood Head Start
3.87 miles
-
Busy Bee Child Development Center
4.39 miles
-
The Spotlight Daycare and Preschool
4.49 miles
-
Kimmy's Christian Academy
5.21 miles
-
Hands and Hearts Daycare
6.25 miles
-
Kiddieland Child Car Center
7.40 miles