NASHVILLE, Tenn. (WTVF) — It's not oceanfront, but it's priced like it is.
At just 0.15 acres, 400 LaFayette Street in Nashville's SoBro neighborhood is for sale for $2,250,000.
"When I first bought, everybody I knew thought I was nuts because of location. It wasn't where everyone understood Nashville is, and right now it is where Nashville is going," Mark Cleveland said.
Cleveland purchased the tiny triangular piece of land in 2007 for $55,000. A few years ago, he put in the Little Chill Beach, a makeshift beach you can rent for a private party. It can be booked for $1,000 and comes with a bar, tables, trash cans, free parking and sand, of course.
The property is a stone's throw from busy I-40 and also touches LaFayette Street, Ash Street and 4th Avenue South.
The property is listed by NAI Nashville Stanton Group. The group's president said there's been interest from potential buyers in and out of the market. He said the property is at a little more than $344 dollars per square foot, which is actually priced lower than other properties downtown because of the challenges that come with the location.
"With a triangle, in most cases, a developer will realize that there's unusable small ends to it if they have to build the square," Devin McClendon, the real estate broker, said.
Surrounded by multi-story buildings, the owner and the real estate broker believe the 6,500 square foot property could become home to something both unique and useful.
"Whatever goes here is going to be a spire, a needle. It can be 12-14 stories with 360 degree views for a long, long time and a long, long way," Cleveland said.
Before the pandemic, plans were drawn up for a 12-story hotel on the property.
The new owner will need to get creative too.
"This parcel really takes someone that has a creative edge to them. They have to be a dreamer to some extent to be able to get the full use of the height that's allowed," McClendon said.
For more information on the commercial property check out the online listing.
