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Nashville Redev or Repurpose Opportunity 2624 Music Valley Dr 17,017 SF Vacant Retail Building Online Auction Sale Nashville, TN 37214
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Investment Highlights
- Subject is a 17,017-square-foot freestanding restaurant zoned for Commercial Attraction fronting Music Valley Drive.
- Owner/user or investor opportunity to secure a well-known retail destination of a famous southern kitchen restaurant.
- Down the road from Nashville’s Opryland Resort, which features more than 750,000 square feet of meeting space and 2,888 guest rooms.
- Ideally positioned 4 miles north of Interstate 40, 5 miles south of Interstate 65, 7 miles north of BNA, and adjacent to Nashville KOA Resort.
- Nearby retailers include Bass Pro Shops, Regal Cinemas, Dave & Buster’s, Madame Tussaud’s Wax Museum, and Rainforest Café.
- Ideal uses include maintaining the commercial-grade restaurant build out or repurposing to hospitality, entertainment, RV/ Boat storage, etc.
Executive Summary
JLL is pleased to offer for sale a fee simple interest in the freestanding restaurant property at 2624 Music Valley Drive in Nashville, Tennessee. The property consists of a 17,017-square-foot restaurant with a complete dining infrastructure on a 2.97-acre parcel. This acquisition opportunity is in the Nashville MSA, one of the most desirable real estate markets in the country.
2624 Music Valley Drive is located 7 miles northeast of downtown Nashville, strategically positioned with excellent exposure & visibility to Briley Parkway, which sees over 84,000 vehicles per day. The property sits less than a mile from Opry Mills, Tennessee’s most extensive retail shopping, dining, and entertainment destination, with over 200 retailers. Additionally, the area is home to the Gaylord Opryland Resort and Convention Center, the nation’s largest non-gaming hotel/convention center under one roof. Together, these two destinations welcome over 4 million visitors annually and are among Nashville's premier attractions amongst its robust & growing tourist population.
As a regional hub, Nashville is served by Interstates 24, 65, and 40, which provide access to neighboring communities. Urban areas are accessible through the 440 Parkway, Downtown Loop, and Briley Parkway, while Route 840 connects four counties in an outer loop around the city. Public transportation options include WeGo Public Transit buses and the Music City Star Commuter Rail. Travelers going further out of town enjoy convenient access to the highly rated Nashville International Airport (7 miles), which offers hundreds of regional and international flights daily.
2624 Music Valley Drive has a strong, growing demographic pool within a 5-mile radius. More than 141,600 residents live in households with an average income of $82,400 or more. Each year, the realm generates more than $1.7 billion in consumer spending, contributing to the local economy. Food and drinks account for $454 million of the spending power, while entertainment totals nearly $3 million.
Nashville is one of the fastest-growing metropolitan statistical areas in the United States, with approximately two million residents. The state of Tennessee is business-friendly, with no state income tax, benefiting business owners alike. Inquire today and learn more information about acquiring a one-of-a-kind retail asset in Tennessee’s Music City.
2624 Music Valley Drive is located 7 miles northeast of downtown Nashville, strategically positioned with excellent exposure & visibility to Briley Parkway, which sees over 84,000 vehicles per day. The property sits less than a mile from Opry Mills, Tennessee’s most extensive retail shopping, dining, and entertainment destination, with over 200 retailers. Additionally, the area is home to the Gaylord Opryland Resort and Convention Center, the nation’s largest non-gaming hotel/convention center under one roof. Together, these two destinations welcome over 4 million visitors annually and are among Nashville's premier attractions amongst its robust & growing tourist population.
As a regional hub, Nashville is served by Interstates 24, 65, and 40, which provide access to neighboring communities. Urban areas are accessible through the 440 Parkway, Downtown Loop, and Briley Parkway, while Route 840 connects four counties in an outer loop around the city. Public transportation options include WeGo Public Transit buses and the Music City Star Commuter Rail. Travelers going further out of town enjoy convenient access to the highly rated Nashville International Airport (7 miles), which offers hundreds of regional and international flights daily.
2624 Music Valley Drive has a strong, growing demographic pool within a 5-mile radius. More than 141,600 residents live in households with an average income of $82,400 or more. Each year, the realm generates more than $1.7 billion in consumer spending, contributing to the local economy. Food and drinks account for $454 million of the spending power, while entertainment totals nearly $3 million.
Nashville is one of the fastest-growing metropolitan statistical areas in the United States, with approximately two million residents. The state of Tennessee is business-friendly, with no state income tax, benefiting business owners alike. Inquire today and learn more information about acquiring a one-of-a-kind retail asset in Tennessee’s Music City.
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Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financial Statements
- Purchase Agreement
Market Analytics Click Here to Access
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Restaurant
Building Size
17,017 SF
Building Class
C
Year Built
1984
Tenancy
Single
Building Height
2 Stories
Building FAR
0.13
Lot Size
2.97 AC
Parcel Number
062-00-0-143
Zoning
CA - Commercial Attraction
Parking
160 Spaces (9.4 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
Demographics
Demographics
1 mile
3 mile
5 mile
2024 Population
4,533
56,295
141,693
2020 Population
4,695
56,810
139,525
2029 Population
4,479
55,908
141,529
2024-2029 Projected Population Growth
-1.2%
-0.7%
-0.1%
Daytime Employees
1,128
26,317
54,437
Total Businesses
66
2,509
5,988
Average Household Income
$94,699
$80,362
$82,455
Median Household Income
$73,518
$62,213
$62,339
Total Consumer Spending
$61.7M
$683.9M
$1.7B
Median Age
41.2
38.6
37.9
2024 Households
2,016
24,203
59,708
Percent College Degree or Above
25%
22%
23%
Average Home Value
$376,764
$357,669
$379,747
$ values in USD
Nearby Major Retailers
Sale Advisors
Sale Advisors
Gary Shanks, Managing Director
Gary currently serves as Executive Vice President for Retail Advisory in JLL’s Nashville office with his focus on third-party leasing and sales for institutional firms, regional owners and developers, as well as disposition work for a variety of national clients such as Sears Holdings Company and First Tennessee Bank.
Prior to joining JLL, Gary served as Partner for The Shopping Center Group in Memphis and Nashville over a 15-year span and oversaw a portfolio in excess of 4 million square feet.
Gary was awarded a 4-year athletic scholarship at Birmingham- Southern College where he graduated with a degree in Finance.
He was named to the Memphis Business Journal’s “Top 40 Under 40” in 2007 and has been a CoStar Power Broker Award Recipient for multiple years. He is an active member of Innovating Commerce Serving Communities (ICSC), formerly known as International Council of Shopping Centers and is involved with the Middle Tennessee Chapter of Certified Commercial Investment Members (CCIM).
Prior to joining JLL, Gary served as Partner for The Shopping Center Group in Memphis and Nashville over a 15-year span and oversaw a portfolio in excess of 4 million square feet.
Gary was awarded a 4-year athletic scholarship at Birmingham- Southern College where he graduated with a degree in Finance.
He was named to the Memphis Business Journal’s “Top 40 Under 40” in 2007 and has been a CoStar Power Broker Award Recipient for multiple years. He is an active member of Innovating Commerce Serving Communities (ICSC), formerly known as International Council of Shopping Centers and is involved with the Middle Tennessee Chapter of Certified Commercial Investment Members (CCIM).
Miller Fitts, Executive Vice President
Miller Fitts currently serves as Senior Vice President for Retail Advisory at JLL’s Nashville office. Miller is responsible for leading agency leasing efforts on a diverse portfolio consisting of grocery-anchored centers, community power centers, ground up multi-tenant developments, urban mixed-use projects and disposition of freestanding buildings. Alongside EVP Gary Shanks, the two represent a broad range of institutional, private and international clients. Prior to joining JLL, he worked with The Shopping Center Group for five years where he specialized in both landlord and tenant representation and assisted a number of national clients with market strategy, site selection, lease negotiations, and deal execution.
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1 of 9
Videos
Matterport 3D Exterior
Matterport 3D Tours
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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