1001 Alice St, Nashville, TN 37218, Nashville, 37218 - 3 bed, 1 bath
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Nashville, TN 37218
This Development Asset is a high-potential building lot listed at $375,000, with a $344,500 Fair Market Value. Given the Teardown Condition Rating, the acquisition focuses on the 8,712 sq ft lot and R8 Zoning which permits HPR development for two new residences. The site offers a unique advantage with Scenic River Views available from a second-floor elevation, situated in a neighborhood seeing rapid new construction. This is a targeted Value-Add opportunity for Real Estate Developers or Speculative Builders seeking to capitalize on Nashville's urban infill growth.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1001 Alice St Subject | $375,000* List Price | 3 | 1 | 912 | $378 | - |
A 2741 Buena Vista Pike Active | $339,000 List Price | 3 | 2 | 1,124 | $302 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
The property is explicitly marketed as a building lot for redevelopment rather than a habitable residence. Built in 1952 with no significant updates, the listing focuses on the R8 zoning and the potential to build two new homes, while the property analysis confirms the existing structure is a teardown with value residing solely in the land.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8712, living area = 912.
The R8 zoning and 8,000+ sq ft lot size allow for HPR (Horizontal Property Regime) development, providing a lucrative opportunity to build two separate homes on a single parcel.
Future construction can capitalize on elevated river views from a second-floor vantage point, a premium feature that significantly enhances the resale value of new builds.
The existing 1952 structure is likely a teardown or requires a total overhaul, meaning the primary value lies in the land and requires significant upfront capital for demolition or redevelopment.
With only 912 square feet and a single bathroom, the current residence is undersized for modern market demands, limiting its appeal to traditional owner-occupant buyers.
104' x 95' Building Lot with River Views from the second floor. New development all around. R8 Zoning with over 8000 sq ft. HPR and build 2 houses.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 1.0 | 2.0 | 20% |
| Square foot | 912 | 1,450 | 3% |
| Lot Size | 8,712 | 11,543.5 | 35% |
| Price | $375.0K | $358.2K | 56% |
| Price per sq ft | $411 | $207 | 99% |
| Built year | 1952 | 1971 | 21% |
| HOA | $0 | $0 | 50% |
| Days on market | 202 | 321 | 28% |
Oct 3, 2025
$375,000
Initial Listing