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1000 Rivergate Pkwy
Goodlettsville, TN 37072
RiverGate Mall · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Rare large-scale redevelopment opportunity in the Nashville market which could accommodate many different uses
- Limited restrictions as the REA expired at the end of 2023 and a temporary agreement is in place
- Accessibility to major thoroughfares and I-65 leading to downtown Nashville and employment bases throughout the metro
- Strong anchor traffic generators on the site: Target, BJ's Wholesale Warehouse, Dillard's, and JCPenney
- Current zoning in place allows for high-density retail, office, and multifamily
- Rent roll has been prepared for redevelopment as tenants are all on short-term leases with most having termination or relocation rights for the landlo
EXECUTIVE SUMMARY
The RiverGate Mall presents a redevelopment opportunity for nearly 30 acres and 514,894 SF of existing space in the booming Nashville MSA. The property's original REA expired at the end of 2023, allowing a developer to cut through a lot of the red tape and restrictions mall redevelopments are typically encumbered with. The local municipalities have been consulted with and are on board with a site redevelopment bringing new investment dollars to the submarket. Anchoring the site currently is JCPenney, Dillard's, Target, and brand new BJ's Wholesale Warehouse. The RiverGate Mall is surrounded by heavily trafficked roads including Gallatin Pike (35,404 VPD), Rivergate Parkway (28,448 VPD), Veterans Memorial Blvd (72,133 VPD) and Conference Drive (21,047 VPD), making it an ideal redevelopment tract. The property has been prepared for redevelopment as the current leases remaining are all on a short term basis or most allow for landlord's rights of termination or relocation. The current zoning allows for a densification play with retail, office, and residential uses to create a true live-work-play environment on a large scale.
PROPERTY FACTS Under Contract
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Department Store
Building Size
544,066 SF
Building Class
B
Year Built/Renovated
1971/1999
Percent Leased
72%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.70
Lot Size
17.92 AC
Opportunity Zone
Yes
Zoning
CSL - Commercial Service Limited District
Parking
105 Spaces (0.19 Spaces per 1,000 SF Leased)
Frontage
1,379’ on Rivergate Parkway
AMENITIES
- Dedicated Turn Lane
- Food Court
- Pylon Sign
- Security System
- Signage
- Signalized Intersection
- Kiosk/Cart Space
- Enclosed Mall
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $3,336,756 CAD | |
| Land Assessment | $3,410,190 CAD | Total Assessment | $6,746,946 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$3,410,190 CAD
Improvements Assessment
$3,336,756 CAD
Total Assessment
$6,746,946 CAD
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