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Investment Summary

Rents at Noah's Landing are $190-$250 below market.
In December 2024, the community's T-24 economic occupancy rate reached 99% despite 32 new move-ins over that same time period.
On average, current residents have called Noah’s Landing home for more than 4.5 years, demonstrating strong resident retention.
Excess land on the north side of the property presents a valuable opportunity for investors to expand the community by adding two additional buildings, each containing 24 units. This expansion would increase the overall capacity to 154 units (17.38 units/acre), enhancing the property’s revenue potential and long-term value.
Between 2010 and 2020, the populations within a 1, 3, and 5-mile radius increased by 15%, 18%, and 17%, respectively.
From 2020 to 2024, the average household incomes within a 1, 3 and 5-mile radius of the community improved by 19%, 20%, and 20%, respectively.
From 2020 to 2024, the median household incomes within a 1, 3, and 5-mile radius of Noah’s Landing improved by 20%, 18%, and 19%, respectively.

Location Highlights

The community is located on Murfreesboro Pike (US-70S) one of Nashville’s major North/South retail corridors with over 27,000 VPD
Residents enjoy convenient access to major grocery stores such as Kroger (1.2 miles), Aldi (1.4 miles), Walmart (1.5 miles), and Publix (2.5 miles), offering a variety of shopping options just minutes away from home.
Within a 1.5 mile radius of Noah's Landing, Murfreesboro Pike offers an abundance of fast-food options including Wendy’s, McDonald’s, Taco Bell, Arby’s, Church’s Chicken, Starbuck’s Krystal, KFC, Subway, Burger King, Sonic, Captain D’s, Zaxby’s, Dunkin’, Dairy Queen, and Jersey’ Mikes.
Noah’s Landing has convenient access to a wide range of retail stores within a 7-minute drive including O'Reilly Auto Parts, Dollar General, Ollie’s Bargain Outlet, AutoZone, Dollar Tree, Petco, Ace Hardware, Sherwin Williams, as well as major drugstores like Walgreens and CVS, providing them with everything from automotive needs to home improvement and daily essentials just moments away.
The community benefits from immediate access to essential medical facilities, including Concentra Urgent Care (1.5 miles) and Fast Pace Health Urgent Care (2.5 miles), with the added advantage of being a 15-minute drive from the comprehensive 136-bed TriStar Southern Hills Medical Center.
Residents are zoned for the following public schools: o Lakeview Elementary School (1-mile drive) o Apollo Middle School (3-mile drive) o Antioch High School (4-mile drive)
Nearby Private Schools include: o Lighthouse Christian School (K-12) o Ezell-Harding Christian School (K-12) o Intrepid College Prep (6-12)

Nashville, TN

The Nashville region is home to more than 2.1 million people and 60,000 businesses as of 2023. Key industries include healthcare, music and entertainment, professional services and tourism. Many corporate headquarters call Middle Tennessee home including, Nissan North America, Bridgestone Americas, Dollar General, Hospital Corporation of America, Cracker Barrel and Gibson Guiter.
In April 2024, Oracle Chairman Larry Ellison announced plans to relocate the company’s world headquarters to Nashville. This decision aligns with Oracle's strategic focus on the healthcare industry, a sector in which Nashville excels. The planned campus is expected to bring 8,500 jobs and over $1 billion in investment to the city over the next decade.
Amazon has been expanding its presence in Nashville, with plans to create more than 5,000 corporate and technology jobs. As part of Amazon’s larger push to grow its presence in key cities, the company announced the Amazon Towers development. The project involves the construction of two towers, with a combined total of more than 1 million square feet of office space. The towers are designed to house Amazon’s Operation Center of Excellence and as of early 2024 the company had already hired over 2,500 employees in the area.
Tourism continues to be a significant driver of Nashville’s economy. In 2023, the city welcomed a record 16.8 million visitors, who spent an estimated $10.56 billion ($29 million/day), marking a 5.9% increase from the previous year. On average, visitors spent $29 million per day in Nashville. Projections suggest that by 2027, visitor spending could rise to $12.07 billion, underscoring Nashville’s growing appeal as a premier destination for music cultures and events. By 2033, Nashville aims to surpass the 20 million annual visitor’s mark.
The Nashville area unemployment rate as of September 2024 was only 3.0%, the lowest among major metropolitan areas according to data released by the U.S. Bureau of Labor Statistics. As of August 2024 there were 1.69 jobs available for every unemployed person in Nashville.