Nashville Parking Lot Owner Asking $26M

Vacant land in a booming city is not easy to find, and when prospective buyers do find it, it will often carry a hefty price tag. One such parcel has hit the market in Nashville. Located at 110 Fourth Ave. S, a 0.17-acre parking lot, is up for sale for $26 million. A lease with the parking operator expires in summer 2027. Lewis Agnew and Bill Hawkins of Nashville-based Charles Hawkins Co. are handling marketing for the property.

The Nashville Business Journal reports the Todd family has owned the property for more than 80 years.

Real estate near Lower Broadway is in high demand as tourism continues to surge, with properties typically selling for thousands of dollars per square foot. Last year, a Lower Broadway parking lot sold for $16.2 million, or nearly $7,500 per square foot, marking the highest price ever paid for Nashville land.