Convention Center Authority Of Metro Government Of Nashville Purchases Parking Lot For $52 Million
811 Mcgavock Street
$52,000,000
$24/SF
Building Size
2,100,000 SF
Asset Type
Parking Lot
Closing
Jun 11, 2026
AI
The asset involved in this transaction is a parking lot located at 811 McGavock Street in Nashville, TN. The property encompasses 1.3 acres, and the sale was made for a price of $52,000,000. The square footage of the property totals 2,100,000, resulting in a price per square foot of $25.
Summary of transation details:
- Property Type: Parking Lot
- Transaction Amount: $52,000,000
- Address: 811 McGavock Street, Nashville, TN
- Market Value: Nashville, TN
- Acres: 1.3
- Square Footage: 2,100,000
- Price Per Square Foot: $25
- Buyer: Convention Center Authority of Metro Government of Nashville & Davidson County
- Seller: U.S. General Services Administration
The deal featured the Convention Center Authority of Metro Government of Nashville & Davidson County acquiring the property from the U.S. General Services Administration, specifically the former Estes Kefauver Federal Building parking garage site.
Players
Nashville Parking Lot Market Snapshot
Boundary boundary · Parking Lot · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93