An East Nashville site seemingly eyed for a 17-unit townhome development has sold for $1.8 million.
The new owner of the property, with an address of 1235 Dickerson Pike and located at the T-intersection with Douglas Avenue. The new owner of the 0.83-acre site, on which a one-story retail building previously was demolished, is an LLC affiliated with Scottsdale, Arizona-based Rise Development Co. The boutique development company, officials with which could not be reached for comment, also has a presence in Denver and, locally, in Franklin.
The seller was the estate of the late Martha Carol Swafford. Swafford, who died in 2019, seemingly was part of a trust that included individuals who acquired the property in 2002 for $140,000, according to Metro records.
In 2017, the property was offered for sale for $1.4 million.
Of note, H.G. Hill Realty Co., one of Nashville’s most active development and property owning companies, acquired the property in 1934, according to Metro records.
A previously issued Metro permit referenced the 17 residential units.
The Post was unable to determine if brokers were involved in the transaction.