5502 Michigan Ave, Nashville, TN 37209, Nashville, 37209 - 1 bed, 1 bath
Loading property details...
Nashville, TN 37209
This Prime Redevelopment Asset is listed at $975,000, positioned fairly alongside its $935,546 Fair Market Value. Located in the vibrant neighborhood of The Nations, this property offers a massive 20,038 sqft lot when purchased with the adjacent parcel, providing rare scale for a significant residential project. With a Condition Rating of 6, the structure is valued for its land, yet provides immediate holding income while navigating permits. Proximity to Sylvan Park Paideia Design Center ensures high resale demand. This is a premier acquisition for Luxury Home Builders and Strategic Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5502 Michigan Ave Subject | $975,000* List Price | 1 | 1 | 1,000 | $936 | - |
A 5109 Nevada Ave Active | $999,900 List Price | 2 | 1 | 1,232 | $812 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
The property is explicitly marketed for land value and redevelopment potential, with the listing description noting it should be purchased for the lot. Built in 1925, the structure is nearly a century old, and the analysis highlights demolition costs, indicating the building has reached the end of its economic life.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 20038, living area = 1000.
Situated in 'The Nations,' one of Nashville's most vibrant and rapidly appreciating neighborhoods, this property offers exceptional potential for high-demand new construction.
The combined lot size of over 20,000 square feet provides a rare and expansive canvas for a significant residential project in a dense, sought-after urban corridor.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =20038, other record lot size in square feet = 7405. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1000, other record living area = 719. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 1, other record bedroom count = 2.
The requirement to purchase this lot in conjunction with 5500 Michigan Ave increases the total capital outlay and may exclude buyers looking for a smaller single-lot investment.
Marketed strictly for land value, the 1925 structure likely requires demolition, adding to the overall project budget and site preparation timeline.
This property is being sold for land value and must be bought in conjunction with 5500 Michigan Ave. Listing price is for both properties. House is currently rented. Please do NOT disturb tenants.
No exterior & parking available.
Grades PK-4 • 0.6 mi
Grades PK-4 • 1.1 mi
Grades PK-4 • 1.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 3.0 | 3% |
| Baths | 1.0 | 2.0 | 22% |
| Square foot | 1,000 | 1,640 | 15% |
| Lot Size | 20,038 | 7,405 | 94% |
| Price | $975.0K | $525.0K | 80% |
| Price per sq ft | $975 | $342 | 98% |
| Built year | 1925 | 1960 | 11% |
| HOA | $0 | $0 | 50% |
| Days on market | 27 | 688 | 0% |
Mar 26, 2026
$975,000
Initial Listing
Aug 25, 1995
$15,000
Public Record