A Chestnut Hill property located about four blocks southeast of downtown’s inner-interstate loop has sold for $1.5 million, according to a Davidson County Register of Deeds document.
The new owner of the three-parcel triangular property, with a main address of 85-87 Lafayette St. and offering about 0.42 acres, is Dexter, Missouri-based CRA Investments.
According to its website, CRA Investments owns apartment properties in seven states, including Maplegrove Apartments I and II on Ellington Parkway in Nashville.
The seller was Jackie Murphy, who in March 2019 listed the property for $2 million. The price was reduced to $1,675,000 (about 15 percent) in February, in part due to coronavirus considerations, the Post reported at the time.
Of note, Murphy and wife Janet Murphy acquired the property in September 2008 for $250,000, according to Metro records.
The property is home to a one-story Class C building that was constructed in 1968 and is home to Jackie Murphy’s Used Cars.
Based on acreage, the transaction is the equivalent of about $82 per foot.
Keller Williams Realty’s Realtors Laurie Marks and Kristan Swain seemingly represented Murphy in the sale. The Post was unable to contact CRA Investments to see if it had broker representation and if it has redevelopment plans for the property.