105 Lafayette Street
13,424 square feet of retail, flex for lease on .71 acres
ABOUT THE SUBMARKET
South Nashville, especially along the Nolensville Road corridor, has experienced massive expansion during this economic cycle. Adding nearly 10% (over 1,000,000 square feet) of its total office space in the last 5 years alone, it’s safe to say the Airport South is a strong submarket just outside of downtown. Seated in the shadow of Nashville International Airport, South Nashville has significant connectivity through I-65 / I-24, Nolensville Pike and Murfreesboro Pike and strong East/West corridors with I-440, Thompson Lane, Harding Place, and Bell Road / Old Hickory Blvd. Although the location is ideal for most workers and employers, rents here tend to be 20% below the Metro Nashville average - even Class A new construction.
ABOUT THE NEIGHBORHOOD
105 Lafayette Street is located conveniently on Lafayette Street and 2nd Ave near Nolensville Road, two major arteries running out of downtown. Chestnut Hill, a rapidly evolving urban neighborhood, has seen a massive increase in both residential and commercial development. The arrival of Nashville’s MLS stadium in combination with the Opportunity Zones and redevelopments, such as the May Hosiery, has led to increased popularity in this once industrial district. Much of the commercial real estate in Wedgewood Houston is older and historic, leading to creative adaptive-reuse projects that have maintained the character of the neighborhood. Close proximity to the downtown interstate loop and access to several major thoroughfares gives Lafayette excellent access throughout Nashville.
Notable nearby landmarks include The Adventure Science Center, Fort Negley, The Nashville Fairgrounds & Speedway, and Trevecca Nazarene University.
ABOUT 105 LAFAYETTE
105 Lafayette Street is a 13,424 square foot former grocery box available for lease on nearly 3/4 of an acre. The building was previously home to HG Hill Food and Eddie's Cee Bee grocery and has abundant surface parking (approximately 60+ spaces on site). The suite has a mostly open floor plan and tall ceilings (16’+) with a loading dock in the rear. The landlord is not offering any tenant improvement allowances and has priced the building as such.
Zoned CS, which provides a wide variety of commercial uses.
NOTABLE FEATURES:
Taller ceilings - 16’+
Wide open floor plan
Ideal connectivity to interstates / major corridors
Solid block construction
Loading dock in rear
KEY METRICS ON THE SOUTHEAST CORRIDOR SUBMARKET
Market Rent per Square Foot: $16.70
Vacancy Rate: 2.1%
Months on Market 7.5
Market Sale Price per Square Foot: $160
Market Sale Price: $1.1 million
Market Cap Rate 6.9%