“Shovel-Ready 48-Unit Site - Downtown Nashville”
48-Unit Shovel-Ready Multifamily
Marketing description
Prime development opportunity on approximately 3.9 acres (combined parcels) at 1636 Lebanon Pike, Nashville, TN. City-approved Specific Plan (SP) zoning allows a new 4-story, 48-unit multifamily or condominium building consisting of:
• 32 Two-Bedroom units (1,000 sq ft each)
• 16 Three-Bedroom units (1,200 sq ft each)
Total residential square footage: 51,200 sq ft
Projected gross building area: 51,200 – 60,000 sq ft
Investment highlights
• Land owned free & clear (no debt, clear title)
• All infrastructure in place: bio-pond, retaining wall, on-site pond, water & sewer lines extended to the property
• Full entitlements, permits, fees, engineering studies, and surveys paid and approved
• Height restriction removed; 4-story approval secured
Investment Opportunity: Total estimated project cost: $12,500,000
Sponsor equity contributed: $5,000,000 ($4M land FMV + $1M infrastructure & soft costs)
Seeking equity partner to fund remaining ~$7.5M–$8.5M (construction + contingency) in exchange for approximately 50% ownership (JV structure negotiable – preferred return, promote/waterfall open to discussion). Outright sale also considered.
Strong market fundamentals: Prime location just minutes from Broadway with excellent potential for premium rents and short-term rental/Airbnb use on upper floors (subject to Metro Nashville permitting, but was passed with intent on all previous amendment changes). Downtown Nashville multifamily demand remains robust.
Detailed site plans, entitlements, survey, pro forma, and capital stack available upon signed NDA and qualification. Serious investors and developers only. Brokers protected.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
