7Th Ave South: Offering Memorandum

7TH AVENUE SOUTH | NASHVILLE, TENNESSEE

Vickie Saito 7th Ave South: Offering Memorandum Vice President 615 850 2711 629 + 635 7TH AVENUE SOUTH, NASHVILLE, TENNESSEE 37203 [email protected] Contents Investment Highlights ...... 4

Property Overview ...... 5

Terms of Sale ...... 6

Site Plan ...... 7

Exterior Property Images ...... 8

Interior Property Images ...... 9

Regulating Plans ...... 10

Neighborhood Map ...... 13

Property Aerial ...... 14

Property Location ...... 15

Demographics ...... 16

Area Overview ...... 17

P. 2 : 629 + 635 7TH AVENUE SOUTH : COLLIERS INTERNATIONAL | NASHVILLE Investment Highlights Building Summary

629 + 635 7th Avenue South Address Nashville, Davidson County, TN 37203

Building +39,473 SF Storage warehouse on .69 ac. Type 2-story concrete block and wood frame structure

Year Built ca. 1940s - 1950s

9,583 SF parking lot contiguous to building Parking - included in site offering

Colliers International is pleased to offer for sale a .91 acre development site in Zoning Downtown Code; Multi-Overlay the heart of Nashville’s most creative mixed use and eclectic urban environment! Including a +40,000 SF, 2-story warehouse, this site is perfectly placed between the trendy Gulch neighborhood and emerging SoBro & Lafayette Districts, with • 629 and 635 7th Avenue South tremendous opportunity for short-term and long-term investment options. The area commonly referred to as “The Pie” boasts a collective of unique commercial • Total Site: 0.91 acres and music-inspired venues along with retail and professional creative businesses » 2 - Story Commercial Warehouse like no other neighborhood! » +40,000 SF on 0.69 ac. » + 9584 SF parking lot With spectacular views overlooking Nashville’s exploding skyline, the property • Burgeoning Lafayette Subdistrict is within 2 blocks of the Division Street Extension Bridge connecting Lafayette Street/Sobro and The Gulch, Tennessee Brew Works, Third Man Records, City • DTC Zoning allows office, retail, self-storage, brewery, hospitality-mixed uses Winery, 8th Avenue commercial corridor, and multiple restaurants and live • Elevated site offers unobstructed skyline views performance facilities! • Adaptive re-use or development opportunities

The property sits on the western side of 7th Avenue South and Middleton • Within 5 minutes of most all downtown amenities and interstate systems Street within the downtown I-40/65 loop, with easy access to the CBD, major • Easy walk to Division street extension connector and multitude of commercial corridors, and interstate connectivity to the entire city. entertainment and dining options

COLLIERS INTERNATIONAL | NASHVILLE : 629 + 635 7TH AVENUE SOUTH : P. 3 Property Overview

629 + 635 7th Avenue South Address Nashville, Davidson County, TN 37203

Submarket Lafayette Subdistrict

+39,473 SF Storage Warehouse Building Type 0.69 Acres in Pie Town 2 - Story Concrete Block and Wood Frame Structure

Year Built ca. 1940s - 1950s

First Floor Area: +_ 17,912 SF Building Area Second Floor Area: +_ 18,330 SF

Stories 2 Stories

Current Tenants Furniture Warehouse Storage; Short Term Parking Tenants

9,583 Sf Parking Lot Contiguous to Building and Included Parking in Site Offering

Total Site Area +_39,639 Sf (0.91 Ac)

Zoning Downtown Code; Multi-Overlay

Commercial or Mixed-Use Development Site; Short-Term Highest Use Storage or Adaptive Re-Use Options

P. 4 : 629 + 635 7TH AVENUE SOUTH : COLLIERS INTERNATIONAL | NASHVILLE Terms of Sale

INTEREST OFFERED 100% Fee Simple interest

OFFERING PRICE $6,100,000

TERMS All Cash at Closing

PROPERTY + MARKET TOURS All registered buyers are encouraged to visit the property and should contact Vickie Saito at 615.850.2711 to arrange a tour of the property.

ALL PROPOSALS TO PURCHASE ADDRESSED TO Ms. Vickie Saito-Vice President Colliers International | 523 Third Avenue South | Nashville, TN 37210 Main: +615.850.2700 | Direct: +615.850.2711 | Fax: +615.244.2957 Email: [email protected]

COLLIERS INTERNATIONAL | NASHVILLE : 629 + 635 7TH AVENUE SOUTH : P. 5 Site Plan

P. 6 : 629 + 635 7TH AVENUE SOUTH : COLLIERS INTERNATIONAL | NASHVILLE Images

SUBJECT WAREHOUSE VIEW NORTH

SUBJECT WAREHOUSE

VIEW EAST

COLLIERS INTERNATIONAL | NASHVILLE : 629 + 635 7TH AVENUE SOUTH : P. 7 Interior Property Images

P. 8 : 629 + 635 7TH AVENUE SOUTH : COLLIERS INTERNATIONAL | NASHVILLE DTCSection I: IntroductionRegulating Plan DTC Regulating Plan: Subdistrict Boundaries Subdistrict Boundaries

Legend

James Robertson Upper Broadway Lafayette Gulch North Subdistrict - page 18 Subdistrict - page 26 Subdistrict - page 38 Subdistrict - page 46

Core SoBro Rutledge Hill Hope Gardens Subdistrict - page 20 Subdistrict - page 34 Subdistrict - page 40 Subdistrict - page 50

Core Historic River Rutledge River Sulphur Dell Subdistrict - page 22 Subdistrict - page 32 Subdistrict - page 44 Subdistrict - page 52

DTC Boundary 2nd and Broadway Rolling MIl Hill Gulch South Subdistrict - page 28 Subdistrict - page 42 Subdistrict - page 48

COLLIERS INTERNATIONAL | NASHVILLE : 629 + 635 7TH AVENUE SOUTH : P. 9 17.37 Downtown Code 11 DTCSection II: SubdistrictRegulating Standards Plan Lafayette Subdistrict: Regulating Plan Subdistrict Boundaries

Legend

N Lafayette Subdistrict

Transitional Properties The Lafayette neighborhood is currently a primarily industrial and

business services environment with strong transportation connec- Primary Street tions to the Gulch, SoBro, Midtown, and South Nashville neighborhoods. This neighborhood will likely retain many of the industrial and business service uses while accommodating a greater variety Secondary Street of uses. The neighborhood is primarily low-rise and should act as a transition from the height of the Core and SoBro to the single- Tertiary Street family neighborhoods to the South. Transitional properties that consolidate to have frontage on the Other Street boulevard shall be part of the SoBro Subdistrict. Transitional proeprties that do not consolidate to have frontage on the boule- Alley vard shall be part of the Lafayette Subdistrict. 38 P. 10 : 629 + 635 7TH AVENUE SOUTH : COLLIERS INTERNATIONAL17.37 Downtown | NASHVILLE Code DTCSection II: SubdistrictRegulating Standards Plan Lafayette Subdistrict: Building Regulations Subdistrict Boundaries Frontage Street Planting Strip A Allowed Frontage Types with Required Build-to Zone Sidewalk Primary Street • Storefront Frontage 0’-10’ A B • Stoop Frontage 5’-10’ C Secondary Street A • Storefront Frontage 0’-10’ • Stoop Frontage 5’-10’ C • Porch Frontage 10’-15’

Tertiary Street

Street Sidewalk Parking Placement 0’-10’ • Storefront Frontage Strip Planting • Stoop Frontage 5’-10’ B • Porch Fromtage 10’-15’ Industrial Frontage is allowed in this Subdistrict.

B Facade width Primary Street 80% of lot frontage min. Secondary Street 80% of lot frontage min. Tertiary Street 60% of lot frontage min. Building Plan Remaining lot frontage may be used for pedestrian amenities and shall not be used for parking.

C Min. building depth 15’ from building facade

Height

D Min. • On the roundabout 3 stories or 35’ E E Max. • Transitional Properties 15 stories • On Lafayette St 12 stories • Subdistrict general 8 stories Additional height available through the Bonus Height Program

Step-back * G Step-back required for all buildings 7 stories or greater fronting public streets F F Step-back between 4th and 7th stories G Min. step-back depth 15’ * see page 61 for full description D Sidewalk & Planting A Improvements to the sidewalk corridor according to the General Standards and the Major and Collector Street Plan. CB

Notes Uses: page 55; General Standards: page 59 Building Section

17.37 Downtown Code 39 COLLIERS INTERNATIONAL | NASHVILLE : 629 + 635 7TH AVENUE SOUTH : P. 11 Neighborhood Map

MUSIC CITY CENTER DOWNTOWN

WESTIN HOTEL

KOREAN VETERANS BLVD THE GULCH CANNERY ROW THIRD MAN RECORDS CITY WINERY PROPOSED UPSCALE DISTILLERY SOBRO

629 + 635 7TH AVE S LAFAYETTE • RUDY'S JAZZ ROOM • PEG LEG PORKER PIE • ARNOLD'S CAFE TOWN • CARTER TENNESSEE BREW WORKS VINTAGE GUITARS

• JACKALOPE 8th AVENUE SOUTH BREWERY DIVISION STREET

INTERSTATE 65

INTERSTATE 40

P. 12 : 629 + 635 7TH AVENUE SOUTH : COLLIERS INTERNATIONAL | NASHVILLE Property Location

629 + 635 7TH AVENUE SOUTH

COLLIERS INTERNATIONAL | NASHVILLE : 629 + 635 7TH AVENUE SOUTH : P. 13 Property Aerial

LAFAYETTE

8th AVENUE SOUTH

629 + 635 7TH AVE S

P. 14 : 629 + 635 7TH AVENUE SOUTH : COLLIERS INTERNATIONAL | NASHVILLE Demographics

629 + 635 7TH AVENUE SOUTH DEMOGRAPHICS

1 MILE RADIUS 3 MILE RADIUS 5 MILE RADIUS 2017 Estimated Population 13,769 113,958 235,461 2022 Estimated Population 14,856 122,813 254,268 2010 Census Population 10,113 95,360 208,250 2000 Census Population 8,132 95,321 210,459

2017 Estimated Households 6,908 49,756 101,735 2022 Projected Households 7,622 54,597 111,339 2010 Census Households 4,182 39,013 86,822 2000 Census Households 3,136 38,016 86,957 2015 Median Home Value $238,601 $257,975 $248,462

2017 Est. Average Household Income $59,816 $68,004 $73,794 2017 Est. Median Household Income $44,849 $51,667 $57,130 2017 Est. Per Capita Income $31,418 $30,847 $32,562

2017 Households by Income <$15,000 20.7% 19.7% 16.0% $15,000 - $24,999 12.6% 11.5% 11.6% $25,000 - $34,999 9.1% 9.5% 10.4% $35,000 - $49,999 13.0% 13.4% 14.4% $50,000 - $74,999 16.2% 14.8% 15.8% $75,000 - $99,999 9.3% 9.6% 9.5% $100,000 - $149,999 10.5% 10.5% 10.6% $150,000 - $199,999 3.9% 4.3% 4.3% $200,000+ 4.60% 6.7% 7.4%

Daytime Demographics Total Businesses 3,991 15,132 23,458 Total Employees 64,427 223,354 323,032

COLLIERS INTERNATIONAL | NASHVILLE : 629 + 635 7TH AVENUE SOUTH : P. 15 Area Overview Nashville is the leading economic center of Tennessee and a vital Supply, and Nissan are just a few of the national and international transportation, business and tourism center for North America. The headquarters that have chosen Nashville as a location. This Nashville MSA, in the state’s center, comprises 10 counties with a environment has also garnered Nashville a top position in national total population just over one and a half million, making it the largest accolades including positions on Forbes magazine’s “Best Cities for metropolitan area in the state. When it comes to satisfying and Business & Careers” and “Best Cities for Jobs.” exceeding business needs and expectations, the Nashville region is a top location in America for relocating business, expanding Commonly known as “Music City”, Nashville is the center of the U.S. business and start-up companies. country music scene and is home to numerous artists, recording studios, and record labels, making it the largest music production Nashville is consistently recognized for its pro-business environment, center and the number one music scene in the U.S. outside of New highly educated work force, and compelling demographics. Its York City. With a growing population of approximately 1.6 million energetic and growing economy and environment for doing business people, Nashville is one of the fastest rising metropolitan areas in is encouraging corporate relocations and expansions. HCA, the country. As the city grows, its diverse workforce, unique Bridgestone, Dollar General, CVS/Caremark, Jackson National Life, community and Southern hospitality make Nashville a perfect Healthways, Clarcor, Louisiana Pacific, Caterpillar Financial, Tractor location for both business ventures and residents.

P. 16 : 629 + 635 7TH AVENUE SOUTH : COLLIERS INTERNATIONAL | NASHVILLE 7TH AVENUE SOUTH | NASHVILLE, TENNESSEE

COLLIERS INTERNATIONAL 523 3rd Avenue South, Nashville, TN 37210 MAIN 615 850 2700 FAX 615 244 2957 colliers.com