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Old Highway 96

Justin Timberlake Sells 127-Acre Nashville Land For $8M Through Tom Sullivan, Covey Rise Properties
SOLDSingle Family

Justin Timberlake Sells 127-Acre Nashville Land For $8M Through Tom Sullivan, Covey Rise Properties

Old Highway 96

$8,000,000

Building Size

Asset Type

Single Family

Closing

Jun 21, 2024

AI

Justin Timberlake sold nearly 127 acres of land on Nashville's outskirts for $8 million, doubling his investment since purchasing it for $4 million in 2015.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $8,000,000
  • Address: 0 Old Hwy 96
  • Market: Nashville, TN
  • Asset Type: Single Family ~ ACRES: 127

Tom Sullivan, from Covey Rise Properties, represented Justin Timberlake in the sale of the land.

Players

Tom Sullivan

Covey Rise Properties

Broker

$8M

vol

1 deal

Broker

Nashville Single Family Market Snapshot

Boundary boundary · Single Family · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.98%

Cash-on-Cash

-0.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93