200 E PALESTINE AVE # A Madison TN 37115-4807

3CRE Commercial Real Estate is proud to present the opportunity to acquire the E Palestine Apartments. This property is located in the desirable Heron Walk neighborhood, a thriving submarket located in Madison, Tennessee. Situated in the heart of Madison, Heron Walk enjoys excellent connectivity and proximity to key areas with its easy access to major highways, Interstate 65 and State Route 45, facilitating convenient commuting to downtown Nashville, which is just a short drive away. Prime location makes The E Palestine Apartments ideal for those who want a suburban lifestyle with access to urban amenities. There is currently a $631.4 Million mixed use development called Madison Station less than a mile from the E Palestine Apartments being constructed, which will continue to drive rents and create new amenities for students, employees, and tenants.

The property consists of Ten (10) Two Bed | One Bath units. The units average roughly 800 sq ft and currently average $1,220 per month. With all the unit improvements completed new ownership should expect significant rent increases.

(10) APARTMENTS: The unit mix breakdown includes Ten (10) Two Bed | One Bath units averaging 800 sq ft. Every unit has received all new Appliances, LVP Flooring, Lighting, Paint, and Washers/Dryers. Tenants are responsible for ALL utilities as everything is individually sub metered, Electric, Water, and Sewer.

SELLER FINANCING: Seller financing could be available for qualified buyers with a 30% down payment requirement.

The E Palestine Apartments are able to deliver a high-end look and feel, with in-unit amenities like Washers & Dryers, which separate it from the competition in the market. This allows new ownership to capitalize on the unit renovations, and charge a higher price per square foot on rental rates.

The units average 800 sq ft and currently average $1,220 per month. With all the unit improvements completed, and each unit having a supplied washer/dryer new ownership should be able to compete with other complexes within a one-mile span. This would result in significant value add; rents could be pushed to $1,350, a $130 Loss-To-Lease from the current in-place average rent. Ownership has renovated the complex with some capital improvements Landscaping, and Exterior Paint. In terms of interior renovations, every unit has received New dishwashers, LVP Flooring, Paint, and Washers/Dryers. With a $631 million development coming to the Madison there will be an additional 1.75 million square feet of class-A retail, office, parks, and 1,700-units delivered to the market. See next page for more details on the project that will greatly increase the rents, and value of the E Palestine Apartments.

LOSS-TO-LEASE - $130 BELOW MARKET RENTS

TENANTS PAY ALL UTILITIES

$100K SPENT ON CAPITAL IMPROVEMENT

LOCATED 0.5 MILES FROM 1.75MILLION SQFT MADISON STATION DEVELOPMENT

• Short term rent increases
• Long term market growth
• Location, Location, Location
• Fresh paint, brand new siding