5502 Michigan Ave, Nashville, TN 37209, Nashville, 37209 - 1 bed, 1 bath
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Nashville, TN 37209
This property represents a High-Potential Investment Opportunity, listed at a List Price of $699,000, which aligns with the $699,000 Fair Market Value. Located in the high-demand "The Nations" neighborhood, this Land Value Asset features a substantial 20,038 sqft lot, offering significant density potential for redevelopment. With a Condition Rating of 6, the existing structure serves as a placeholder for future projects while generating immediate rental income. This acquisition is ideal for Buy-and-Hold Investors or Residential Developers seeking a strategic footprint in a rapidly appreciating Nashville market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 5502 Michigan Ave Subject | $699,000* List Price | 1 | 1 | 1,000 | $699 | - |
A 5500 Michigan Ave Active | $699,000 List Price | 1 | 1 | 1,000 | $699 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1925 (>50 years old) with no recorded renovations; the listing explicitly states the property is being sold 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 = 20038, living area = 1000.
Situated in 'The Nations,' one of Nashville's most sought-after and rapidly appreciating neighborhoods, offering high demand for future residential projects.
The combined lot size of over 20,000 square feet provides a substantial footprint for high-density redevelopment or multiple new construction homes.
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.
This property must be purchased with the adjacent lot at 5500 Michigan Ave, limiting flexibility for buyers with smaller budgets or specific single-lot interests.
Marketed primarily for land value, the 1925 structure likely requires demolition or extensive overhaul, adding to the total project cost and complexity.
This property is being sold for land value and must be bought in conjunction with 5500 Michigan Ave. Listing price includes 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 | 4% |
| Baths | 1.0 | 2.0 | 24% |
| Square foot | 1,000 | 1,685 | 18% |
| Lot Size | 20,038 | 7,405 | 91% |
| Price | $699.0K | $485.0K | 69% |
| Price per sq ft | $699 | $334 | 95% |
| Built year | 1925 | 1956 | 8% |
| HOA | $0 | $0 | 50% |
| Days on market | 27 | 764 | 1% |
May 20, 2026
$699,000
Initial Listing
Aug 25, 1995
$15,000
Public Record