Prime Redevelopment Opportunity to acquire a fully entitled 4.24-acre portfolio, approved for 228 units with a total Gross Building Area (GBA) of 220,000 SF. This offering includes (Parcel 1) 1.34 acres with 53 units approved under a Specific Plan (SP). GBA: 90,000 SF. (Parcel 2) 2.90 acres with 175 units approved under Mixed-Use Multi-Family (MUL-A) zoning. GBA: 130,000 SF. Metro's collective approval allows for up to 228 units across both parcels, with a combined GBA of 220,000 SF on 4.24 acres of contiguous development land. Key Highlights: 891 feet of prime road frontage along Charlotte Pike. No sidewalk requirement on Charlotte Pikea significant cost-saving advantage. Located within a major retail corridor featuring Walmart, Lowe's, Target, Dick's Sporting Goods, and more, all within a 1/2 mile radius. Directly across from the Summit West and Novel West Apartments. Entitlements: Parcel 1 (SP): Approved on October 22, 2022. Parcel 2 (MUL-A): Approved on August 15, 2023.
MLS# | 2688834 |
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Listing Type | For Sale |
Style | Vacant Land |
Sub-Type | Resale |
Status | Active |
Year | 1958 |
Days On Site | 91 |
Listing Provided By | NextHome Music City Realty | Linda Byrd |
SQ Feet | 6,078 |
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Zoning | SP & MULA |
Acreage | 4.24 |
State | TN |
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County | Davidson County |
City | Nashville |
Zip Code | 37209 |
Listing VS Median (in 37209) | |
Price: $8,650,000 low | high Med: $599,000 SqFt: 6,078 low | high Med: 1,988 $ / SqFt: $1,423 low | high Med: $301 On Site: 91 low | high Med: 66.000000 |