207 N Riverside Dr, Clarksville, TN

Description of 207 N Riverside Dr, Clarksville - MLS# 3007700

Prime Riverfront Plaza consisting of two adjoining properties – 207 & 211 N Riverside Dr – being sold together as one investment package. Combined, these parcels total 0.55 acres with approximately 9,600 SQFT across two buildings, including one high-visibility corner lot. Located just one minute from Downtown Clarksville and Austin Peay State University, this property benefits from constant traffic and strong tenant demand. 207 N Riverside Dr features a building with two fully leased spaces, each approximately 2,400 SQFT. 211 N Riverside Dr includes a 2,400 SQFT building, with the ground floor leased and the second floor currently vacant. The upper floor has a separate entrance on the side of the building, providing flexibility for office, studio, or retail use. Current NOI is $132K–$144K/year (~$11K–$12K/month), offering a cap rate of 7.1%–7.8% at the asking price. With lease-up of the vacant second floor, market rent adjustments, conversion to NNN leases, and a city-approved ±4,000 SQFT extension, the projected NOI exceeds $240K/year (~$20K+/month), supporting a 12%+ cap rate. This rare offering provides both secure in-place income and substantial upside potential, making it ideal for 1031 exchange buyers, private investors, and investment groups.

Listing Map of 207 N Riverside Dr