SOLDLand
Metro Nashville Purchases 2.07 Acres From Stillwater Capital For $18.97M In Nashville
186 North 1st Street
$18,970,000
Building Size
—
Asset Type
Land
Closing
Oct 30, 2026
About this deal
AI
The transaction involves the land asset located at 186 North 1st Street in Nashville, TN, encompassing an area of 2.07 acres. The sale price for this property was $18,970,000, representing the first land acquisition for the planned East Bank Boulevard project.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $18,970,000
- Buyer: Metro Nashville
- Seller: Aaron Sherman & Robert Elliott - Stillwater Capital
- Asset Size: 2.07 acres
- Transaction Date: 10/30/2026
The deal is noteworthy as it occurs amidst an ongoing lawsuit between Stillwater Capital and Metro Nashville regarding stalled development permits. Construction on the East Bank Boulevard, which this acquisition supports, is now anticipated to commence in late 2030.
On the Map
$18,970,000
Land
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Saint Maries Land Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.84%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93