520 Lafayette StNashville, TN 37203

Property Details for 520 Lafayette St

Lot size

0.19 AC

Zone code

DTC

Property type

Parking lots & garages

APN

093-10-0-218-00

APU

9310021800

Description

This exceptional 0.35-acre commercial land parcel, totaling 15,500 square feet, presents a prime development opportunity in Nashville's vibrant SoBro district. Located at 520 Lafayette St, this property encompasses four parcels (093.10.0.218.00, 093.14.0.463.00, 093.10.0.217.00, and 093.10.0.216.00), offering frontage on both Lafayette Street and Lea Avenue, situated between 5th and 6th Avenues South. The DTC (Downtown Code) zoning allows for a 12-16 story development, perfectly complementing the planned 27-story and 14-story developments on adjacent properties. This location boasts unparalleled proximity to key attractions, including the Music City Center convention center, the Westin hotel, and the 8th Avenue South/Lafayette Street/Korean Veterans Boulevard roundabout, all within three blocks. Convenient access to I-40 entrance/exit ramps is also less than three blocks away. A 2024 appraisal supports the asking price of $7,500,000. A survey and Phase I Environmental Study are available upon request. All information is deemed reliable but not guaranteed.

• CAP approach

  CAP return

  Valuation

  6%

  $2,101,653

  6.5%

  $1,939,988

  7%

  $1,801,417

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,795,243

  Geo Method

  $1,795,243

• Alternative Use

  Use

  Valuation

  Residential

  $1,636,452

  Hospitality

  $1,498,981

  Educational

  $1,247,135

  Medical

  $1,290,026

  Retail

  $1,939,988

Location Insight

City

Nashville

County

Davidson

State

Tennessee

Latitude

36.1532

Longitude

-86.7749

CBSA code

34980

CBSA name

NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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