1935 21ST AVENUE SOUTH...South, Nashville, TN (“the Property”). The asking price for the...
Transcript of 1935 21ST AVENUE SOUTH...South, Nashville, TN (“the Property”). The asking price for the...
1935 21ST AVENUE SOUTHFOR SALE | 21,224 SF OFFICE | HILLSBORO VILLAGE
21935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
THE OPPORTUNITY
Foundry Commercial has been retained as exclusive agent in the sale of 1935 21st Ave South, Nashville, TN (“the Property”). The asking price for the Property is $6,500,000.
The Property is a 21,224 SF office building suitable for various professional services or entertainment industry firms that desire a unique environment in a truly outstanding, pedestrian-friendly location. The Property is adjacent to Nashville’s highly desirable Hillsboro Village, and within walking distance to both Vanderbilt and Belmont Universities, as well as Music Row. The Property’s central location and quick access to Downtown, West End Avenue and other parts of Nashville are excellent via 21st Avenue and nearby I-440.
The Property is composed of two beautifully restored 1920’s era Frank Lloyd Wright style houses and an architecturally integrated newer structure built in 2007, all combined into one continuous main building of 19,558 SF. The main building is laid out with a reception area, break room, five conference rooms, and a total of 33 offices that can further be divided with multiple workstations. There are two smaller carriage houses toward the rear of the Property. Additionally, there is a 3,649 SF dry basement under the main building, that currently serves as a document storage area for the Property’s current tenant, S&ME. The total area for the Property including the carriage houses and the basement is 25,188 SF.
The Property was originally redeveloped in 1990 for Littlejohn Engineering firm and served as the company’s home for 29 years until Littlejohn was acquired by S&ME in 2015. S&ME currently has a lease on the property that expires December 31, 2019 and will be vacating the Property at that time due to relocation. In its current configuration the Property has contained as many as 65 employees.
This offering is a rare opportunity for a user or investor to acquire a special property in one of the most ideal locations, within one of the best neighborhoods, in all of Nashville.
For further information about the Property or to submit an offer, please contact Rick Helton at (615) 324-0785 or Don Albright at (615) 771-0772.
31935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
PROPERTY OVERVIEW
PROPERTY DETAILS
Price $6,500,000
Address1935 21st Avenue SouthNashville, Tennessee 37212
Existing Improvements
21,224 RSF Office + Carriage HousesAdditional 3,649 SF Basement
Site Size 0.55 AC
Parking 33 Spaces Onsite + Street Parking
Sub Market Green Hills / Music Row
Zoning OR-20 (Office / Residential 20 Units Per Acre)
• Ideal central location inside the I-440 loop
• Walking distance to Hillsboro Village, Music Row, 12 South, Belmont,and Vanderbilt
• Monument signage opportunity
• 35,000 vehicles per day south; 21,100 vehicles per day north
• Security systems on all three buildings with key fob entry access
• Employee headcount capacity of at least 65 persons
• Central VAV controlled HVAC in the new building; individual units in theoriginal buildings
PROPERTY HIGHLIGHTS
41935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
SITE PLAN
Portland Ave
21
st A
ve S
2108 Portland Ave 792 SF
1935 21st Ave S 19,558 SF
2104 Portland Ave 874 SF
Original Buildings
ParkingLot
Park
ing
in F
ront
CoveredParking
MainEntrance
CoveredParking
Addition
Deck
51935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
SITE OVERVIEW
Port
land
Ave
Port
land
Ave
21st Avenue S
21st Avenue S
Magnolia Blvd
21st Avenue S
Magnolia Blvd
1935 21st Ave S 21,224 SF
0.55 AC
2004 21st Ave S 3,929 SF0.17 AC
Optional second property for sale
61935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
SPACE BREAKDOWN
SQUARE FOOTAGE
7,540 RSF Original two connected buildings
12,018 RSF New addition (2006/2007)
874 RSF Carriage House at 2104 Portland Ave
792 RSF Carriage House at 2108 Portland Ave
21,224 RSF Total Rentable Square Footage
3,964 SF Basement
25,188 SF Total Square Footage
• Building can be potentially demised into two separate spaces for two differenttenants - Approx. 7,540 RSF and 12,018 RSF
• Floor plan is currently oriented toward manager-led teams or studio work spaces
• (20) private offices, (38) open work stations, and (4) conference rooms
• Reception area with stained-glass accents
• Copier/mail room, and a separate printer/copy/collating room
• Break room leading to back deck
• State-of-the-art secured server/data center with redundant cooling
• Building is served by existing underground fiber
• Building is on the same NES grid as VU Medical Center
OFFICE SPACE HIGHLIGHTS
71935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
FIRST FLOOR
Main Entrance
21ST AVE S
PORT
LAN
D A
VE
Reception
Conf
Potential Demising Line
Conf
Covered Parking
Covered Parking
81935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
SECOND FLOOR
Deck
BreakRoom
WorkRoom
Conf
21ST AVE S
PORT
LAN
D A
VE
Potential DemisingLine
91935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
THIRD FLOOR
Open to Below
Open to Below
21ST AVE S
PORT
LAN
D A
VE
Potential Demising Line
101935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
CARRIAGE HOUSES
2104 Por t land Ave | 874 SF 2108 Por t land Ave | 792 SF
FIRST FLOOR FIRST FLOOR
SECOND FLOOR SECOND FLOOR
111935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
ARCHITECTURAL SIGNIFIGANCE
HISTORIC PRESERVATION
The Property’s original buildings were two residences built in 1920 which underwent a complete restoration and redevelopment in 1990 to connect them into commercial office space. During that project, great care was taken to preserve the original architecture and decor which highlighted the Frank Lloyd Wright Prairie School style, especially the original stained glass windows and doors throughout the space.
In 2007, the Property underwent another major renovation when the addition was constructed, more than doubling the square footage of the office space. The Property was awarded an Architectural Award from the Nashville/Davidson County Metropolitan Historical Commission for the restoration and expansion efforts. Since that time, the Property has been continuously upgraded with state-of-the-art fiber cabling, redundant cooling, and modern office amenities.
The Prairie School style is a late 19th- and early 20th-century architectural style, marked by horizontal lines, flat or hipped roofs with broad overhanging eaves, windows grouped in horizontal bands, integration with the landscape, solid construction, craftsmanship, and discipline in the use of ornament. Horizontal lines were thought to evoke and relate to the wide, flat, treeless expanses of America’s native prairie landscape.
The most famous proponent of the style, Frank Lloyd Wright, promoted an idea of “organic architecture” the primary tenet of which was that a structure should look as if it naturally grew from the site.
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EXTERIOR PROPERTY PHOTOS
131935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
INTERIOR PROPERTY PHOTOS
141935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
LOCATION MAP
VanderbiltUniversityMedicalCenter
VanderbiltUniversityCampus
BelmontUniversity
Future MLSStadium
CentennialPark
12 SOUTH
BERRY HILL
EDGEHILL
TO GREEN HILLS
MUSIC ROW
MIDTOWN/WEST END
WEDGEWOODHOUSTON
THEGULCH
CBD
SOBRO
440
440
440
LOCATION ADVANTAGE
The property is conveniently located within walking distance of Vanderbilt University, Belmont University, and the popular Hillsboro Village shopping and dining district. Music Row provides direct access to The Gulch and Downtown Nashville. Access to I-440 is immediately south of the property via 21st Avenue South.
HILLSBOROVILLAGE
Hills
boro
Rd
21st
Ave
S
21st
Ave
S
BroadwayW
est E
nd A
ve
West
End Ave
151935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
LOCATION & PROXIMITY MAP
1935 21ST AVE S
NASHVILLE CBD
MIDTOWN/WEST END
MUSICROW
HILLSBOROVILLAGE
TOI-440 ACCESS
& GREEN HILLS
BELMONTUNIVERSITY
12 SOUTH
VANDERBILTUNIVERSITY
MEDICAL CENTER
21st A
ve S
21st A
ve S
Magnolia Blvd
Portland Ave
2004 21ST AVE S
Miles Minutes
Nashville CBD 2.4 mi 10 min
The Gulch 1.8 mi 5 min
Green Hills 2 mi 6 min
12 South 1.2 mi 4 min
Music Row 0.4 mi 1 min
Centennial Park 1.3 mi 7 min
Vanderbilt Hospital 0.5 mi 4 min
Future MLS Stadium 2.2 mi 8 min
161935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
WALKING DISTANCE AMENITIES
DINING + DRINKING SHOPPINGBare Naked Bagel Altar'd State
Belcourt Taps Apple & Oak
Biscuit Love Arcade Kids
blvd Nashville David Cookware
Brown's Diner Dress Up
Cabana Impeccable Pig
Chago's Cantina Mountain High Outfitters
Chick Fil A Native + Nomad
Donut + Dog Onward Reserve
Double Dogs Posh
Grilled Cheeserie Revv
Hopdoddy Burger Bar Scout & Molly's
International Market Thousand Faces
J. Christopher's UAL
Jeni's Splendid Ice Cream
Kay Bob's Grill and Ale SERVICES + ACTIVITIESLevant Mediterranean Café Belcourt Theatre
McAllister's Deli Belmont University
McDougal's Chicken Fannie Mae Dees Park
Meet Noodles Kroger
Nashville Chocolate & Nut Local Honey
Pancake Pantry Moxy Hotel
PM Rodney Mitchell
Proper Bagel Ruby
RocknRoll Sushi Uncle Classic
Subway Vanderbilt Medical Center
Sushi 88 Vanderbilt University
Taco Mama
Villager Tavern COFFEE + JUICEBongo Java
FITNESS Fido
Lotus Room Ayurveda Revelator Coffee Company
Pilates Garage Urban Juicer
Kroger
BelmontUniversity
0.25 Miles
0.50 Miles
VanderbiltUniversity &
Medical Center
MoxyHotel
BelcourtTheatre
171935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
THE NEIGHBORHOOD
HILLSBORO VILLAGE
Hillsboro Village features a walkable network of historic homes, highly rated restaurants, scenic green spaces and trendy coffee shops making it one of the most sought after areas in all of Nashville.
Because it is flanked by both Vanderbilt University and Belmont University on the southwest side of the city, there is a heavy concentration of college students in this area.
This thriving university scene plays a major role in shaping the overall culture and lifestyle of the area. As
with any respectable college neighborhood, there are plenty of spots to keep you caffeinated and focused, including Fido, Fetch and Revelator Coffee.
These establishments can be found in Hillsboro Village itself, which offers an inviting cluster of more than 25 bars and restaurants, as well as the classic and recently renovated Belcourt Theatre.
Just east of the Vanderbilt campus is the heart of Nashville’s music industry — Music Row. Here you’ll find recording studios, production houses, record
labels, radio stations, licensing firms and pretty much any other type of business related to country, gospel and contemporary Christian music.
At the northwest side of the Vanderbilt campus along West End Avenue is Centennial Park, which boasts a stunning replica of the Parthenon in Athens, Greece — right down to the 42-foot statue of Athena within.
For a sweeping view of the Nashville skyline, pack a picnic and set down a blanket on Love Circle. All this and more is within just a five to ten minute walk.
181935 21ST AVENUE SOUTH | FOUNDRY COMMERCIAL
SALE COMPARABLES
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Address 1009 17th Ave S 1616 16th Ave S 1511-1513 16th Ave S 2123 Belcourt Ave 1516 16th Ave S 1501 12st Ave S
Year Built 1925 1935 1920 1965 1930 1956
Buyer Hall Capital Jgbs 1616, LLCGroveland Investment
GroupTreg P Warner
First Citizens Bancshares, Inc.
Treg P Warner
Seller Nina C Sivek N/A Dismas, Inc. Walter A StinsonRocky McElhaney
Law FirmUnited Neighborhood
Health Services
Date Sold March 2019 September 2017 June 2017 March 2017 September 2016 November 2015
Sale Price $1,592,656 $699,000 $1,850,000 $1,020,000 $3,000,000 $1,800,000
Size 2,288 1,376 3,928 2,028 6,425 3,520
Price / SF $696 $508 $471 $503 $467 $511
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foundrycommercial.com615.997.0010
1935 21 ST AVE SNASHV I L L E , TN
R ICK HE LTONRICK.HELTON@FOUNDRYCOMMERCIAL .COM
615.324.0785
DON ALBR IGHTDON.ALBR IGHT@FOUNDRYCOMMERCIAL .COM
615.771.0772
WES WH I T LOCKWESLEY.WHIT LOCK@FOUNDRYCOMMERCIAL .COM
615.334.7260