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.


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


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


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


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


FIRST FLOOR

Main Entrance

21ST AVE S

PORT

LAN

D A

VE

Reception

Conf

Potential Demising Line

Conf

Covered Parking

Covered Parking


SECOND FLOOR

Deck

BreakRoom

WorkRoom

Conf

21ST AVE S

PORT

LAN

D A

VE

Potential DemisingLine


THIRD FLOOR

Open to Below

Open to Below

21ST AVE S

PORT

LAN

D A

VE

Potential Demising Line


CARRIAGE HOUSES

2104 Por t land Ave | 874 SF 2108 Por t land Ave | 792 SF

FIRST FLOOR FIRST FLOOR

SECOND FLOOR SECOND FLOOR


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.


EXTERIOR PROPERTY PHOTOS


INTERIOR PROPERTY PHOTOS


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


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


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


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.


SALE COMPARABLES

1 2 3 4 5 6

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

1935 21ST AVENUE SOUTH...South, Nashville, TN (“the Property”). The asking price for the...

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