
Nashville, TN 37216
This property presents a High-Potential Investment Opportunity with a List Price of $325,000—positioned slightly above the $323,346 Fair Market Value. While the current Condition Rating of 6 reflects an aging 598-square-foot cottage, the R6 Zoning on an oversized 8,276-square-foot lot provides significant upside for redevelopment. The ability to potentially construct two residences or assemble an adjoining parcel makes this a strategic Asset for long-term growth. This is an ideal acquisition for Real Estate Developers or Buy-and-Hold Investors focused on East Nashville’s high-demand urban core.
Property is land value only, full reconstruction required.
Built in 1923 with no mentioned renovations, this 598 sqft cottage is marketed as an 'as-is' redevelopment opportunity. The listing emphasizes land value and R6 zoning for new construction, meeting the criteria for a structure over 50 years old intended for land value.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8276, living area = 598.
The R6 zoning on an oversized 8,276-square-foot lot offers the rare potential to construct two residences, providing significant upside for investors or developers.
Situated in a highly walkable and trendy neighborhood, the property is minutes from acclaimed dining, local boutiques, and major upcoming community developments.
The existing 598-square-foot cottage is sold strictly as-is with no seller repairs, likely requiring a total teardown or a high-cost renovation to meet modern standards.
The property is zoned for schools with low academic ratings, particularly the middle and high schools, which may impact resale value for families prioritizing education.
An exceptional opportunity to bring a new vision to life in one of East Nashville's most desirable residential neighborhoods. Zoned R6 (One and Two Family Residential, 6,000-square-foot lot) with an Urban Zoning Overlay (OV-UZO), 1015 Spain Avenue offers the potential for two residences, subject to applicable approvals. An additional opportunity to acquire an adjoining property, a double lot also zoned R6, presents exciting possibilities for an expanded residential development. Surrounded by beautifully renovated historic homes and a distinctive residential streetscape, the property offers a compelling combination of location, potential, and neighborhood appeal. An existing approximately 600-square-foot cottage provides the opportunity to explore renovation or redevelopment, allowing the property's next chapter to take shape. Beyond the lot itself, the location is a standout. East Nashville's acclaimed restaurants, independent coffee shops, local boutiques, and everyday conveniences are all within easy reach, while nearby parks and green spaces offer additional recreational opportunities. The property is also located just down the road from Southern Land Company's planned development, an anticipated addition to the area featuring residential, retail, dining, and community amenities. With its established surroundings, desirable zoning, potential to acquire an adjoining property, and proximity to some of East Nashville's most popular destinations, 1015 Spain Avenue offers an exciting opportunity to create something exceptional in a sought-after Nashville location. (Property is being sold as-is. Seller will not make any repairs.)
No exterior & parking available.
Grades PK-4 • 0.7 mi
Grades 5-8 • 2.2 mi
Grades 9-12 • 2.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 3.0 |
| Square foot | 598 | 2,045.139 |
| Lot Size | 8,276 | 10,890 |
| Price | $325.0K | $556.0K |
| Price per sq ft | $543 | $305 |
| Built year | 1923 | 1971 |
| HOA | $0 | $133 |
| Days on market | 11 | 70 |
Oct 13, 2026
$325,000
Initial Listing
Feb 17, 1995
$4,000
Public Record
Dec 12, 1994
$3,554
Public Record