Downtown-area industrial property sells for $1.5M | Growth

A Chestnut Hill property situated about 4 blocks southeast of downtown’s inner-interstate loop has offered for $1.5 million, in accordance with a Davidson County Register of Deeds doc.

The brand new proprietor of the three-parcel triangular property, with a major tackle of 85-87 Lafayette St. and providing about 0.42 acres, is Dexter, Missouri-based CRA Investments.

In accordance with its web site, CRA Investments owns house properties in seven states, together with Maplegrove Residences I and II on Ellington Parkway in Nashville.

The vendor was Jackie Murphy, who in March 2019 listed the property for $2 million. The value was diminished to $1,675,000 (about 15 p.c) in February, partially as a result of coronavirus concerns, the Put up reported on the time.

Of word, Murphy and spouse Janet Murphy acquired the property in September 2008 for $250,000, in accordance with Metro information.

The property is house to a one-story Class C constructing that was constructed in 1968 and is house to Jackie Murphy’s Used Vehicles.

Based mostly on acreage, the transaction is the equal of about $82 per foot.

Keller Williams Realty’s Realtors Laurie Marks and Kristan Swain seemingly represented Murphy within the sale. The Put up was unable to contact CRA Investments to see if it had dealer illustration and if it has redevelopment plans for the property.

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