240 Rep. John Lewis Way, Nashville, TN 37219
16 Unit Apartment Building | $17,600,000 ($1,100,000/Unit) | 5% Cap Rate | Nashville, TN 37219
For Sale
Active
Asking Price $17,600,000
- Property Type
-
Multifamily
- Square Feet
- 12,600 SF
Listing Contacts
Jared Davis
Hayley Mustin
- Property Info
Property Overview
The seller purchased the vacant building with the intent to preserve the original architecture and historical integrity, while restoring many features lost over time. The interior is currently undergoing a remodel to allow for short term rentals and Airbnb stays. The new floorplan utilizes all four 4 stories, integrating 4 bedrooms and 4 bathrooms on each floor; and will stand as one of the only buildings downtown to feature this unique layout. Each bedroom will feature one of four different design themes – an art deco inspired room, a garden themed room, the “Southern Sunroom” and the “Drunk Monkey” room. The lobby will be decorated with art commissioned from local artists, and there will be a mezzanine on the third floor. The basement could be used for storage, or as a different use such as a potential speakeasy. The renovations are expected to be complete by September 2024, and will be furnished and rental-ready upon delivery.
While the building is within Downton Core Zoning, the seller saw the value in short-term rentals, due to its ideal location. The surrounding neighborhood offers a mix of high-end restaurants and retail. It’s 2 blocks from a major tourist attraction—the famous Country Music bar scene on Broadway; less than a mile from both the Bridgestone Arena and the new Nissan Stadium, home of the Nashville Predators and Tennessee Titans; and within walking distance of many large corporations such as Amazon, Phillips, EY, AllianceBernstein, and Oracle’s New HQ.
While the building is within Downton Core Zoning, the seller saw the value in short-term rentals, due to its ideal location. The surrounding neighborhood offers a mix of high-end restaurants and retail. It’s 2 blocks from a major tourist attraction—the famous Country Music bar scene on Broadway; less than a mile from both the Bridgestone Arena and the new Nissan Stadium, home of the Nashville Predators and Tennessee Titans; and within walking distance of many large corporations such as Amazon, Phillips, EY, AllianceBernstein, and Oracle’s New HQ.
Property Details
- Class
- B
- Year Built/Renovated
- 1889/2024
- Stories
- 1
- Lot Size (sq. ft)
- 3,049 SF
- Units
- 16
Highlights
- Downtown Nashville Multi-Family Airbnb Investment Opportunity
- Iconic Historical Building
- 2024 Remodel
- Ready for Rentals
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