Large South Nashville site listed for $6.5M

A large property located at the southeast corner of the Harding Place and Interstate 24 exit in South Nashville — an intersection with one of the state’s highest traffic counts — has just hit the market with an asking price of $6.5 million.

The 8.3-acre site has a main address of 343 Harding Place.

An entity affiliated with hotel company Drury Development Corp. owned what previously was a three-parcel site. A related entity originally bought one of parcels in 1973, according to Metro records.

It is unclear how much the Drury entities have paid for the property over the years, as multiple transactions have occurred (many of them quitclaim deed deals involving the entities and when the property consisted of multiple parcels). In May 1978, Drury Industries paid $250,000 for the then-parcel that had an address of 347 Harding Place.

DDC Hotels Inc. has owned the property — on which buildings accommodating both a Drury Inn and a Pear Tree Inn (also a Drury brand) once sat — since December 2008, according to Metro records.

Based on acreage, the $6.5 million asking price is the equivalent of about $18 per foot.

The property is zoned commercial services.

The owner has enlisted Land Deleot and Austin Cox with Nashville-based Equitable Property Co. to handle the marketing and sale of the site.

“As far as I know, there currently is no raw-land parcel of this size for sale located within seven miles or less of downtown at any major interstate exit,” Deleot said.  

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