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A SoBro property encompassing a full city block and fronting the footprint of the eventual Division Street Extension is listed for sale, the geographically largest such downtown site currently on the market and not under contract.
With an address of 825 Sixth Ave. S., the property spans 3.9 acres and is home to a massive warehouse that is leased to Vanderbilt University Medical Center. The site sits at the southwest corner of the Sixth and Ash Street intersection a few blocks south of Lafayette Street and straddling the inner-interstate loop.
CPC-8 to 5 LP owns the property, having acquired it in August 1993 for about $1.21 million, according to a Metro property document. CPC-8 to 5 shares an address with Gallatin-based Green Little LP (led by owner L.A. Green), which is eyeing a mixed-use project for Green Hills (read here).
Nashville-base Urban Grout Commercial Real Estate has the listing, with the asking price not being disclosed.
Chad Grout, Urban Grout principal, said the recently listed property (which is divisible) has received “tremendous” interest from a “diverse” group of prospective buyers. Urban Grout enlisted Nashville-based Contrast Visuals to create an aerial video (see here) for marketing purposes.
“The chance to acquire a 3.9-acre contiguous city block at the apex of downtown’s south interstate loop with direct frontage along the planned Division Street connector is a highly unique development opportunity,” Grout said. “It is exciting to experience Nashville’s broad economic reach firsthand.”
Work on the Division Street Extension, which will connect Division and Ash and provide SoBro with its southern-most east-west road, is projected to start by year’s end. See the general area here courtesy of Google Maps.
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