Lee Motel on .47 Acres | 14% Cap Rate

Beau Beach, MBA, CCIM presents:

The financially successful 19 room Lee Motel sits on a hard-to-find .47 acre parcel that is perfectly sized and zoned for an apartment development or other commercial uses.

This prime real estate is located in the quickly gentrifying Murfreesboro Pike corridor.  Traffic counts exceed 22,000 vehicles per day.  Superb access to I-65 and I-24/I-40.

Two miles (less than 10 minutes) from downtown Nashville on a straight route with no need for highway driving.  Less than a mile from Trevecca University.  Two miles from The Gulch.  Just four miles from the massive Nashville Yards development which is home to more than 3.5 million square feet of office space – including Amazon’s new Nashville HQ.

Lee Motel

The Lee Motel was built in 1945 and is still in successful operation today.  19 rooms plus updated owner’s suite.  Average Daily Rate = $80 to $85.

Contact Beau to receive the confidential Financial Snapshot.

Potential Covered Land Play

A covered land play is a real estate investment strategy where an investor buys property primarily for the underlying land value rather than the existing improvements.

Between transit upgrades, infrastructure spending, zoning flexibility, and strong local demand, Murfreesboro Pike stands out as a corridor poised for long-term value appreciation through redevelopment.

Zoned for Redevelopment

The property is zoned CS (Commercial Services) with one overlay OV-UZO (Urban Zoning Overlay District).

CS Zoning permits apartment development with conditions.  No density or floor area ratio applies to new residential construction.  OV-UZO removes the parking requirements.  Click here for all permitted uses with CS zoning.

The buyer may choose to proceed with “Specific Plan” zoning approval or work within the standards set by the existing CS zoning.

The property is located in an “Urban Services District” which qualifies it for Metro’s “Adaptive Residential Provision”.  This provision encourages adaptive reuse of commercial areas by creating a “by-right” planning phase for high density mixed-use or residential development.  This expedites the zoning approval process.

$3.1B Transit Plan

Nashville’s “Choose How You Move” transit plan is a transformative $3.1 billion investment that promises to significantly uplift Murfreesboro Pike.

As one of the city’s ten designated “All‑Access Corridors”—spanning 54 miles and serving nearly 80% of transit riders—it will see upgraded transit lanes, signal-priority systems, and more frequent buses running at least every 15 minutes . A key early action includes a new outbound bus queue‑jump lane between Shumate and Edge O Lake, paired with a signal that lets buses bypass up to 1,400 feet of congestion, shaving off 2–4 minutes per trip and yielding an estimated 10,000 hours saved for riders . Overall bus service along Route 55 is being ramped up to 15‑minute frequency during weekdays and weekends, reflecting improved reliability thanks to smart signals, automated dispatch systems, and added vehicle capacity .

Combined with new sidewalks, safer crossings, and dedicated transit infrastructure, these enhancements aim not only to speed up commutes but also to create a more accessible, equitable, and dependable transit experience along one of Nashville’s busiest corridors.

These improvements are likely to boost foot traffic, transit access, pedestrian friendliness, and overall corridor desirability – which tends to support higher valuations.

Next door:  432 Flats

The neighboring development was built on the same sized parcel. 432 Flats is a 24 unit condominium building that was built in 2022.  Primarily studio and one bedroom homes which are not short-term rental eligible.

Simple contemporary finishes (white cabinets, granite counters, stainless appliances), exterior stair/elevator-free circulation, rooftop deck with skyline views, small dog area, and surface parking.

Buyer to receive $5,000 Convenience Credit

Buyer will receive a $5,000 credit at closing if our brokerage manages the entire transaction.  We must prepare all the paperwork.

Contact Beau at 615-200-9330 or email Beau@Beachwood.ai with all questions.