240 Rep. John Lewis Way Nashville, TN 37219
- Apartment buildings
- 12,600 SF
- 0.07 lot acres
Current Use by Public Records
- Isalis / Gift Shop / Boutique
- Party City / Party Store / Balloon Store
- Skunk Funk / Corporate Campus / Wholesaler
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop
Property Details for 240 Rep. John Lewis Way
- Year built
- 1925
- Lot size
- 0.07 lot acres
- Property size
- 12,600 SF
- Property type
- Apartment buildings
Description
This iconic 12-unit apartment building, located at 240 Rep. John Lewis Way N in Nashville, TN, presents a unique redevelopment opportunity. The 12,600 square foot building, constructed in 1925, sits on a 0.07-acre lot and boasts a prime Downtown Core zoning designation. Currently undergoing a complete remodel for short-term rentals and Airbnb stays, the renovation is slated for completion by September 2024. The four-story building will feature a unique layout with four bedrooms and four bathrooms on each floor, each bedroom showcasing a distinct design theme. Amenities will include a lobby with local art and a third-floor mezzanine. The basement offers potential for additional uses, such as storage or a speakeasy. The asking price is $17,600,000, with a price per square foot of $1,396.83 and a price per unit of $1,466,666.67. The property offers a 5.00% cap rate and a net operating income (NOI) of $880,017. Seller financing is available. This investment presents a rare chance to own a piece of Nashville history, perfectly positioned for lucrative short-term rental income. The property's APN is 093-02-3-045-00. This adaptive residential use allows for non-owner short-term rentals.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Nashville
- County
- Davidson
- State
- Tennessee
- Longitude
- -86.7807
- Latitude
- 36.1644
