East Nashville Commercial Properties Sold for $5.35 Million, New Opportunities Ahead

East Nashville Properties Change Hands for $5.35 Million

In the lively neighborhood of East Nashville, three commercial properties located right next to the well-loved art supplies store, Jerry’s Artarama, have recently been sold for a cool $5.35 million. This transaction, which has quite a bit of history tied to it, marks another chapter in the ever-evolving landscape of this vibrant community.

Details of the Sale

The newly acquired properties, situated at 701-705-709 Main St., have found a new owner in the company known as Kumar Lodging LLC. Interestingly enough, this LLC shares its address with a Holiday Inn Express and Suites located in the neighboring MetroCenter area. Talk about convenience!

Now, you might be curious about the people behind Kumar Lodging. It appears that they are linked to the Omega Hotel Group, which hails from Alabama. With a portfolio that includes 16 hotels, this company certainly knows its way around the hospitality industry. Among their properties are the Holiday Inn Express and Suites in MetroCenter and a Hyatt Place located near Nashville International Airport, which showcase their commitment to quality service.

The Seller’s Background

The seller, Ronald Hasty, has an impressive lineage connected to a multi-generational plumbing business, which has been operating in the area since 1972. While it’s unclear exactly how much the Hastys paid for the properties over the years, it’s clear they’ve now passed on the reins, bringing a rush of new opportunities for revitalization.

Looking back, the properties don’t come without their own tales. The building located at 701 Main St. used to house a check-cashing business, while the larger two-story property at 705-709 Main St. has more history, having previously been home to a Subway and a UPS Store before the March 2020 tornado reshaped much of Nashville’s landscape.

The Future is Bright

As with many cities across the United States, the pandemic brought challenges for businesses, and East Nashville was no exception. The properties, now sold, appeared to be boarded up and had no tenants at the time of the sale. However, with the new ownership, there’s certainly potential for fresh beginnings and new endeavors.

Expert Assistance

Land Deleot and Victoria Fields from a Nashville-based company called Equitable Property Company played a role in representing the Hastys in this notable transaction. Their expertise certainly helped facilitate the smooth transfer of ownership and set the stage for whatever comes next.

A Community in Transition

For local residents and businesses, this sale is a continuation of East Nashville’s vibrant and dynamic growth. As new owners move in and plans begin to unfold, excitement brews about how these spaces might be utilized. Whether it’s new retail, dining options, or a blend of both, the possibilities are endless.

As this community continues to flourish, all eyes will be on 701-705-709 Main St. to see what the future has in store. It’s a great time for this part of Nashville as it evolves and adapts, bringing along new energy and opportunities for everyone who cherishes its artistic and eclectic spirit.