A residential property in Five Points, located across the street from Funny’s House of Music and zoned for various commercial uses, is on the market for about $2.5 million.
It is located in 116 S. 11th Street, the American Foursquare structure and attached back building (combining 3,075 square feet) sit on a 0.19-acre lot. The main building was constructed in 1910, and marketing materials state that both buildings were updated in 2021.
The property is zoned to allow the building to accommodate a variety of uses including office, retail, restaurant/bar, and hotel/hospitality.
The property was owned by Tommy Keenum, who paid $73,000 for it in 1996, according to Metro records. Keenum, a longtime East Side musician, fashion designer and artist, lives in the house.
Based on the size of the building, the asking price equates to approximately $813 per square foot.
Notably, the Five Points building housing 3 Crow Bar recently sold for $5.2 million in September (read article) here). The building is 3,000 square feet and yields the equivalent of approximately $1,733 per foot.
Similarly, nearby commercial buildings, 200 S. 11th St., which recently sold for $1.4 million, according to Metro records. The deal is valued at $935 per square foot, based on the building’s size of approximately 1,500 square feet.
Two for-sale buildings (with a courtyard connecting them) located within a federally designated Opportunity Zone (allowing tax benefits) were damaged in the March 2020 tornado. It is adjacent to the former Y-CAP building.It is located in 122 S. 11th Street The historic East Nashville building, called 1021 Russell, is owned by veteran developer and real estate manager Mark Saunders and his wife Patti Saunders. The couple lives across the street from the building (read more) here) for over 40 years.
Keenum has hired real estate agent Robert Drimmer, who is affiliated with Compass RE, to handle marketing and sales of the property. Dreamer focuses his work primarily on East Nashville.
”This property combines Eastside history with modern-day Nashville charm.Buildings like this one in Five Points rarely become available for purchase, so our optimistic interest is high” said Drimmer.
Funny’s House of Music operates out of buildings located at: 1101 Holly Street, Keenum also previously owned the property. After paying $225,000 in 2008, he sold the building to the owner of Fanny’s Business for $800,000 in 2021, Metro records show.
In addition, Keenum owns a building next to the property for sale with the following address: 114 S. 11th Street He paid $125,000 for the property (which had several tenants including East Nashville Flower Shoppe and was once home to Pied Piper Creamery) in 2003, according to Metro records. It is said that Keenum apparently runs Other Boy Music in that building.
Tree removal permit issued for project planned in Edge Hill
Atlanta-based Wood Partners is moving forward with construction of the five-story, 370-unit Alta Rochelle residential building in Edge Hill.
Through WP Tennessee Builders LLC, the company obtained a permit to remove trees on the property. The address is: 1020 Southside Court (and alternate address 1021 South St.).
The site provides a building for the nonprofit Rochelle Center and is located approximately 2.5 blocks south of The Gulch, at the southeast corner of the intersection of 12th Avenue and South Street.
Wood Partners needs to acquire 4.5 acres of land from Rochelle Center. Metro records suggest a nonprofit organization serving adults with intellectual and developmental disabilities has owned the facility since 1974.
Wood Partners has completed and is starting work on multiple developments throughout Nashville, but has not announced when the property purchases will be finalized.