For Sale
$17,600,000

240 Rep. John Lewis WayNashville, TN 37219

Historic 12-unit apartment building, seller financing.

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • Prime Downtown Nashville Multifamily Airbnb Investment Opportunity
  • Historic Landmark Building
  • Downtown Nashville Zoning Compliant
  • Approved for Adaptive Reuse with Short-Term Rental Allowance

Property Details for 240 Rep. John Lewis Way

Property type
Apartment buildings
Square Feet
12,600 SF
Year Built
1925
Buildings
1
Stories
4
Lot Size (sq. ft)
3,049 SF
Units
12

Location Insight

City
Nashville
County
Davidson
State
Tennessee
Latitude
36.1643803
Longitude
-86.7807303
240 Rep. John Lewis Way, Nashville, Tennessee

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240 Rep. John Lewis Way
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