69 Trimble Street
5,000 square feet of creative office space on .43 acres
ABOUT THE SUBMARKET
South Nashville, especially along the Nolensville Road corridor, has experienced massive expansion during this economic cycle. Adding nearly 10% (over 1,000,000 square feet) of its total office space in the last 5 years alone, it’s safe to say the Airport South is a strong submarket just outside of downtown. Seated in the shadow of Nashville International Airport, South Nashville has significant connectivity through I-65 / I-24, Nolensville Pike and Murfreesboro Pike and strong East/West corridors with I-440, Thompson Lane, Harding Place, and Bell Road / Old Hickory Blvd. Although the location is ideal for most workers and employers, rents here tend to be 20% below the Metro Nashville average - even Class A new construction.
ABOUT THE NEIGHBORHOOD
69 Trimble is located conveniently between Lafayette Street and 2nd Ave / Nolensville Road, two major arteries running out of downtown. Chestnut Hill, a rapidly evolving urban neighborhood, has seen a massive increase in both residential and commercial development. The arrival of Nashville’s MLS stadium in combination with the Opportunity Zones and redevelopments, such as the May Hosiery, has led to increased popularity in this once industrial district. Much of the commercial real estate in Wedgewood Houston is older and historic, leading to creative adaptive-reuse projects that have maintained the character of the neighborhood. Close proximity to the downtown interstate loop and access to several major thoroughfares gives Trimble excellent access throughout Nashville.
ABOUT 69 TRIMBLE STREET
69 Trimble Street is a creative, adaptive-reuse building converted into office and event space from a previously industrial building. Originally constructed in 1955, the solid block building was renovated in 2018 and now features approximately 2,500 square feet of office and 2,500 square feet of event space. There are four private offices, two full baths, a full kitchen, open work area / living room, a recording studio with built-in vocal booth, and a performance stage. The event space features taller ceilings and a glass garage door overlooking a fenced in patio (of which there are two on-site). Sitting on over .43 acres of land, 69 Trimble Street offers fenced-in parking for over 40 cars.
Zoned MUN-A, which provides a wide variety of residential, office, and retail uses.
Taller ceilings - 10’-14’
Abundant natural lighting
Ideal connectivity to interstates / major corridors
Fenced-in surface parking
Open / private floor plan
KEY METRICS ON THE AIRPORT SOUTH SUBMARKET
Market Rent per Square Foot: $23.19
Vacancy Rate: 8.0%
Months on Market 6.2
Market Sale Price per Square Foot: $166
Market Sale Price: $2.3 million
Market Cap Rate 7.3%