Embed Size (px)
Citation preview
Partnership. Performance.
Memphis Bristol Hwy
Old Hickory Blvd
STILL SPRINGS RIDGENASHVILLE, TN
Subject Property
Investment Highlights• Zoned and approved for single family project
• Easy access to Old Hickory Blvd., Hwy 70S, & I-40
• Strategic location in Bellevue area of Southwest Nashville that has seen explosive population growth over the past decade
• Proximity to employment centers in West End Ave, Downtown, and Brentwood
• Solid suburban location
• Homes in adjacent Summit Oaks sold $300K to $500K range
• Convenient to Warner Parks, private schools, golf courses, major hospitals, Nashville West regional shopping center, and Bellevue mall redevelopment
OpportunityAvison Young is pleased to offer to qualified parties the opportunity to purchase an approved 124 +/- lot development site, “the Property”, located in the Bellevue area of Nashville. The Property offers a rare opportunity for the immediate development of a single family community in a desirable suburb of rapidly developing Nashville.
Still Springs Ridge
Property Specifications
Sale Price$2,950,000
AddressSummit Oaks Ct, Bellevue, TN
Acres± 86 Acres
Best UseSingle Family Residential
LotA ± 124-Lot Development Opportunity
Location• Active Economic Development Pipeline in Nashville
• Popular suburban location
ZoneSingle Family Use
Potential• Will support approximately 124 single-family residential lots
• Various approvals and permits in place
Nashvi l le, TN
2 | Still Springs Ridge
Still Springs Ridge
Bellevue is a suburban community located in southwest Nashville, Davidson County. Bellevue is known as an attractive middle to upper middle class address in Nashville. The area provides for an easy commute to employment centers in downtown Nashville, West End, Greens Hills, or Brentwood via heavily traveled I-40, HWY 70 South, and Old Hickory Blvd.
The subject property, Still Springs Ridge, is conveniently located south of I-40 in the Old Hickory Blvd corridor. Existing housing product nearby ranges from $275,000 to $500,000. Rezoning can be very difficult to achieve in the area and geographic features such as Harpeth River and hilly terrain serve to further limit the opportunities. The subject asset is already zoned to permit single family residential development and significant planning work has been completed.
Economic and lifestyle factors impacting this key corridor:
• 900,000-sf Bellevue Mall being redeveloped into mixed-use project
• Nashville West, 700,000 sf regional open air retail center
• Warner Parks, one of the largest parks in the U.S., recently expanded
• School alternatives convenient to Bellevue include Ensworth, CPA, and Nashville Christian School
• Golf courses convenient to Bellevue include Hillwood, Harpeth Hills, Temple Hills, Belle Meade, and Golf Club of Tennessee
Location Advantages
Nashville West Publix Warner Park
Nashvi l le, TN
Avison Young | 3
Memphis Bristol Hwy
Charlotte
Pike
Bellevue mall redevelopment
Old Hickory Blvd
Nashville Christian School
Ensworth School Warner Parks
Subject Property
Memphis Bristol Hwy
Nashville MSA Demographics
1.8 MillionPopulation
744,743Housing Units
$57,985Median Household Income
Market OverviewNashville Regional Market
The Nashville region is defined by a diverse economy, low cost of living and doing business, a creative culture and a well-educated population. With no major economic sector accounting for more than twenty percent of the employment base, Nashville’s economy is not reliant on any one area of business activity. The pro-business environment has not only helped grow industry staples like healthcare, music, education and transportation, but it also has been a catalyst for corporate relocations.
Favorable Geographic Location Nashville is centrally located, allowing businesses to reach U.S. and international locations with ease and affordability. Fifty percent of the U.S. population lives within 650 miles of Nashville, and 75 percent of U.S. markets are within a two-hour flight.
Low Cost of Doing Business Tennessee has one of the nation’s lowest tax burdens. The U.S. Chamber of Commerce’s Enterprising States Report named Tennessee a top state for low business taxes and regulations.
Skilled Workforce Nashville is home to more than 118,000 students who attend the region’s higher education institutions, with 17,000 graduating each year and 10,000 of those graduates remaining in the Nashville area. This provides a strong, consistent pipeline of educated talent annually.
3.3 %
Unemployment
among the best in the U.S. (June 2017)
Nashville Highlights
11 32,403 Fortune 1,000 Companies
Average Population Growth per Year
headquartered in Nashville
50 %US Population within 650 Miles
of Nashville
6 | Still Springs Ridge
ACCOLADES
Nashville named to Top 50 Best Cities in the World for 2017–Travel + Leisure
Nashville #5 of “America’s Favorite Cities” for 2016–Travel + Leisure
Nashville #9 in world as Top Cities to visit in 2016–Lonely Planet
Nashville #2 tech job growth market in U.S.–Dice.com
Best Cities for Job Seekers in 2017–NerdWallet
Nashville #6 for top cities for real estate investing in 2017–PriceWaterhouseCoopers
Nashville #4 for top state for doing business in 2016–Area Development
Vanderbilt, Belmont, and Lipscomb Universities ranked in Top 20 Colleges and Universities
–U.S. News and World Report 2014 rankings
Company# of Local Employees
Vanderbilt University 24,719
Nissan North America 10,900
Saint Thomas Health 7,100
HCA 7,000
Community Health Systems 4,300
Asurion 4,175
Randstad 4,100
The Kroger Co. 3,173
National HealthCare Corp. 3,100
Cracker Barrel Old Country Store 3,012
Shoney's 3,000
Electrolux Home Products 2,900
GM 2,643
Amazon.com 2,250
Middle Tennessee State University 2,174
Triumph Aerostructure 2,135
Dollar General Corp. 2,050
UPS 2,012
AT&T 1,950
A.O. Smith Corp. 1,912
Bridgestone Americas 1,855
United Healthcare 1,682
LARGEST EMPLOYERS IN THE NASHVILLE REGION
Avison Young | 7
Still Springs Ridge
Population Growth Employed Population by Occupation
Demographic Indicators
Nashvi l le, TN
8 | Still Springs Ridge
Still Springs Ridge
Nashville Area
Nashville
Warner Parks
Radnor Lake
Belle Meade Plantation
Hillwood Country Club
Ensworth School
Nashville Christian School
CPA
Harpeth Hills Golf Course
Temple Hills Country Club
Nashville West
Bellevue Mall
Belle Meade
Forest Hills
Brentwood
Oak Hill
Bellevue
Vanderbilt University
100
106
106
155
155
155
155 155
155
155
6
254
24
12
12
251
Subject Property
Nashvi l le, TN
Avison Young | 9
Still Springs Ridge
Possible Site Plan (not an approved plan)
Old Hickory Blvd
Summit Oaks DrSummit Oaks Ct
Nashvi l le, TN
10 | Still Springs Ridge
Still Springs Ridge
Site Map
Nashvi l le, TN
Avison Young | 11
© 2017 Avison Young Commercial Real Estate (Ontario) Inc., Brokerage. All rights reserved.
E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young.
avisonyoung.com
Avison Young700 12th Avenue SouthSuite 302Nashville, TN 37203 615.727.7400
Partnership. Performance.
Brent Basham, Vice President 615.727.7406 [email protected]
Buck Haltiwanger, Principal 615.727.7410 [email protected]
Fred M. Stevenhagen, President 615.383.1893 [email protected]
