404-942-2220
144 2nd Ave N, Nashville, TN for Sale
Office - FOR SALE
1/10
null | Request Cap Rate

144 2nd Ave N
Nashville, TN 37201
Riverfront


HIGHLIGHTS

  • Nashville - one of the most sought after investment markets in the U.S.
  • Immediately proximate to one of the most iconic entertainment districts in the U.S.
  • Repositioning and favorable zoning with ability to repurpose the building for other uses
  • Value-Add Potential via lease up of vacancy, re-tenanting spaces and increasing short-term rental income
  • Income Diversification with Highly Rated Airbnb, Office, and Retail
  • Recently reconstructed building in the heart of Broadway / 2nd Avenue with limited future deferred maintenance

OVERVIEW

JLL is pleased to present the opportunity to acquire Pilcher Building, a generational Nashville investment offering located at the intersection of 2nd Avenue and Commerce St, just steps from Broadway. The asset features a dynamic mix of retail, office, and luxury short-term rentals, providing strong drawing power and a diversified and robust income stream. The well-curated Tenant mix currently consists of Boot Barn, Liquor Labs, Travel + Leisure, and Creed Investment Co, who together make up 71% of the building GLA. The remaining 29% is currently utilized as luxury short term rental units, and have been recognized as the #1 Airbnb in Downtown Nashville (Time Out). Pilcher Bldg has a long-standing history in Nashville, originally constructed in 1900, the property has undergone transformative renovations over the century, most recently a completed update 2018. The 38,684 SF building features several opportunities for Investors, with the lower-level space 40%+ below market, and the ability to repurpose the top three floors of the asset. Given the current short term rental use, favorable zoning, and limited lease term remaining coupled with below market rents on the office units, future Owners will have full optionality to future uses of Pilcher Building. Please reach out to the deal team to learn more about this opportunity.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pilcher Bldg

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

B

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

DTC

APN/PARCEL ID

093-06-2-075

ASK ABOUT THIS PROPERTY

Andrew KahnJLLMore Info
404-942-2220

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Andrew KahnJLLMore Info
404-942-2220

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.