Value-Add Opportunity: New ownership will have the opportunity to add value to the property by updating the interiors with new countertops, appliances, fixtures, or painted cabinets.
Loss-to-Lease Burnoff: New ownership has the opportunity to take advantage of organic NOI growth through loss-to-lease burnoff. Recent leases are currently renting for over $92 per unit more than in-place leases.
Below Market Rents: Northwoods sits over $700+ below market rent of nearby assets allowing new ownership the potential to increase NOI through rent increases. Submarket rents are anticipated to grow by 10.6% in 2021 and 6.0% in 2022, according to CoStar projections.
Amenities Upgrade: New ownership has the opportunity to enhance the amenities package through improving the playground and surrounding green space, updating the grilling/picnic area, or adding an additional amenity such as a pool or dog park.
Diverse Demand Drivers Base: Clarksville and the surrounding area is home to a diverse set of demand drivers, including:
Significant Capital Infused into Clarksville: Multiple major projects are contributing to the growing economic landscape in Clarksville, including:
3rd Largest Military Base: Fort Campbell has a $10.1 billion per year economic impact for Tennessee and provides over 58,000 direct and indirect jobs.
Top Ranked, Rapidly Growing City: Clarksville has seen rapid population and economic growth and has been highly ranked by multiple publications as a result: