Beau Beach, MBA CCIM presents:
4 parcels of land. 1.74 prime acres on Gallatin Pike in East Nashville. That’s just $65/SF of land!
Conceptual site plan for 180 apartment units plus 8,146 SF of retail space. That’s just $27,500 per unit.
Take advantage of our Seller Financing options (below) and let the existing cash flow of $220,000 pay the note until you’re ready for construction. This is the ultimate Covered Land Play!
Covered Land Play
One way to minimize risk when you’re pursuing a development is covered land plays. The basic premise is that you buy a property for the value of the “land” while the existing buildings, whether or not you intend to keep them in the long run, generate income that “covers” your carrying costs as you pursue your development strategy.
1.74 acres on very desirable Gallatin Pike with MULA Zoning! MULA zoning is arguably the most coveted zoning in all of Metro Nashville.
MULA allows apartments, hotels, short term rentals, retail and more. Two zoning overlays: OV-UDO and OV-UZO. No parking requirements with the Urban Zoning Overlay. Click here for the complete zoning information.
300′ of Gallatin Pike frontage. Traffic counts exceed 26,000 vehicles/day. No flood zone. No opportunity zone.
Nearby New Developments
One block South, M. L. Rose is opening it’s 4th location and its first in East Nashville. The redevelopment will also include two other retail or restaurant tenants.
The adjacent property was recently developed into The Nines, a condo property.
On the other side of Gallatin Pike you’ll find the recently completed Studio 79 which offers 79 studio apartments.
Next to it at 3800 Gallatin, a 20,000 SF Class A office development is planned that includes a residential component.
Seller Financing
Avoid all the bank headaches! For qualified buyers, seller will provide Seller Financing. Choose the option that makes the most sense for your situation:
| Price | Down Pmt % | Interest Rate | Loan Term | Annual Payments | Personal Guarantee | Interest Only |
| $4,950,000 | 20% | 5% | 3 | $198,000 | Yes | Yes |
| $4,950,000 | 15% | 6% | 4 | $252,450 | Yes | Yes |
| $4,950,000 | 10% | 7.50% | 5 | $334,125 | Yes | Yes |
Conceptual Site Plan
4 stories of wood frame construction plus 2 levels of podium parking (one level underground). 180 studio and one bedroom apartments. 8,146 SF retail space. 2,748 SF residential lobby. 4,752 SF of amenity space.
Your project can be permitted as a Hotel so you have the ongoing right to Short Term Rentals.
Conceptual Site Plan created by Architect Gregory Spon (gspon@waremalcomb.com or 615-647-5547).
Existing Cash Flow
7 buildings offer 36 units of corporate housing. Rented month-to-month and always full! Contact Beau to receive the Financial Snapshot.
Abundant parking with combined private and street parking.
All supplies, equipment, decorations and furnishings included in the sale. This will provide an accelerated depreciation opportunity for a savvy investor.
Every unit has its own secure (password protected) Wifi. Shared laundry facility, dog park, coffee bar, ice machines, community rooms, controlled access, 10 exterior security cameras. On-site management office plus shop space.
Diversified mix of tastefully designed and decorated co-living units, studio apartments and 1 bedroom apartments.
Great location
As Nashville has exploded in growth, the face of East Nashville has changed dramatically. In the past 5 years, this area has seen creative entrepreneurs, music studios, apartments, fun bars and tasty restaurants flock to Gallatin Pike to create a wonderfully unique part of the city.
This property sits at the center of this newfound action. For example, Inglewood Lounge is a hip cocktail bar with live jazz that’s within walking distance. East Side Bowl, a renovated bowling alley, is 5 minutes away. So is Grimey’s Record shop, a bona fide Nashville institution. Don’t sleep on El Fuego’s margaritas either — they are strong, and they are cheap.
This section of East Nashville is convenient too. Kroger is half a mile away. Opry Mills is under 10 if guests need to go shopping or watch a movie in IMAX. There are 3 separate gyms within 5 minutes. Traffic isn’t bad around here either.
This convenient location provides easy access to everything a guest needs from shopping and dining to entertainment venues.
Strong Market for Investment
Metro Nashville ranks #1 in the US as the most desirable market for real estate investors as rated by nonprofit real estate research and policy organization Urban Land Institute.
Nashville is the first market to earn the top spot for 3 straight years!
Buyer to receive $5,000 Convenience Credit
Buyer will receive a $5,000 credit at closing if our brokerage manages the entire transaction. We must prepare all the paperwork.
Parcel numbers: 06115031600, 06115031500, 06115031400, 06115031300
Priced to ensure a timely sale. Don’t miss this opportunity.
LOCATION DESCRIPTION:
East Nashville Neighborhood
East Nashville is an area east of downtown Nashville across the Cumberland River. The area is mostly residential and mixed-use areas with businesses lining the main boulevards.
East Nashville has a quirky vibe and a buzzing food and nightlife scene. The Five Points area is known for its street art, upbeat bars and trendy fine-dining restaurants, while nearby Fatherland Street is the place to go for offbeat shops. In leafy Shelby Park, the Greenway is a paved tree-lined path winding along the Cumberland River. Nissan Stadium fills with crowds for Titans football home games.
East Nashville is an area of creative and artistic flair. It has a trendy progressive atmosphere and after ten plus years of a slow and steady rise, the neighborhood has managed to keep its eclectic, artsy vibe while welcoming a diverse mix of newcomers.
Like it attracted many in the late 19th century, it continues to attract young urban professionals and liberal minds because of the easy-going environment and quaint neighborhood qualities. There are many coffee shops and art galleries interwoven within the neighborhoods making it a biker’s or walkers’ paradise.
The Tomato Art Fest is a popular summer festival in East Nashville specifically at the Five Points, where Woodland, Clearview and 11th streets intersect. There are many other festivals and fairs throughout the year also.
Nashville
Residential redevelopment has taken hold of the outer neighborhoods and has significantly brought up home prices and more young people are calling it home.
Nashville is the capital and most populous city of the U.S. state of Tennessee. The city is the county seat of Davidson County and is located on the Cumberland River. The city’s population ranks 24th in the U.S. According to 2018 estimates from the U.S. Census Bureau, the total consolidated city-county population stood at 692,587.
Located in northern Middle Tennessee, Nashville is the major city of the largest metropolitan area in Tennessee. The 2018 population of the Nashville-Davidson–Murfreesboro–Columbia combined statistical area, a larger trade area, was 2,057,416.
Since 1963, Nashville has had a consolidated city-county government, which includes six smaller municipalities in a two-tier system.
Nashville is a center for the music, healthcare, publishing, private prison, banking, and transportation industries. It is home to numerous colleges and universities, such as Tennessee State University, Vanderbilt University, Belmont University, Fisk University, and Lipscomb University.
Entities with headquarters in the city include Asurion, Bridgestone Americas, Captain D’s, CoreCivic, Dollar General, Hospital Corporation of America, LifeWay Christian Resources, Logan’s Roadhouse, and Ryman Hospitality Properties.
- Price: $4,950,000
- Area: 1.74 acres
- Phone Number: 615-200-9330