Investment Highlights
Fee-simple estate
Potential construction for up to 30 floors
Opportunity to develop in one of Nashville?s most historic & popular districts
Sale leaseback available
Current site features two restaurant/bar properties with combined gross building area of 12,286? SF
Executive Summary
Currently occupied by the Bourbon Street Blues and Boogie Bar, this site is in the heart of Nashville?s famed Printers Alley. This area is known for its lively nightlife and primed for a unique hotel redevelopment opportunity. The current zoning presents an investor with a multitude of options to reconfigure the space into different uses or build up to an additional 30 floors for use as a hotel or STR property.Growth is evident in the immediate vicinity. A 15-story mixed-use building at 215 & 217 3rd Avenue was recently approved, while major renovations are underway at The Nashville Arcade located between Fourth and Fifth Avenues. Moreover, The Bankers Alley Hotel, a Tapestry Collection hotel by Hilton, recently opened in July 2023.With tourism to the city reaching 14.8 million in 2022, this 13% increase from 2021 shows the demand for hospitality in the area, making this site an exceptional opportunity for an investor or developer to transform the space into a thriving hotel venture.Among the many distinct neighborhoods and districts that make up Nashville, Printers Alley stands out as a unique and historically significant part of the city. Starting out as Nashville?s publishing center, this area transformed into one of the city?s largest nightlife hubs, with numerous bars, clubs and music venues attracting both locals and tourists.Acknowledging its cultural significance, Printers Alley was designated as a National Register Historic District, ensuring the preservation of its unique character, including its cobblestone streets, old-world facades and architectural charm. Its strategic location in downtown Nashville makes it easily accessible for tourists staying in the city center, conveniently within walking distance of other popular attractions, including the Ryman Auditorium, Country Music Hall of Fame, Nissan Stadium and Bridgestone Arena.Adding to Nashville?s appeal are its annual events, including the CMA Festival, CMA Awards, Nashville International Auto Show and NASCAR Champion?s Week.
