1705 State St | Nashville, TN 37203
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1705 State St
Nashville, TN 37203
State House by Sonder · Hospitality Property For Sale
·
7,104 SF
Investment Highlights
- Cannot lose right to operate as a short term rental because it operates with an actual hotel license.
- Mark-to-market provision promises significant upside
- Reserves for LL obligations are extracted from NOI
- Tenant is new real estate unicorn, $1 Billion valuation
- Landlord responsible for RE taxes, Insurance, Roof and Building Systems
- First U.S. property under lease by Sonder sold 2/18/20 for $707/SF and a 5.65 cap.(See sales comp #1 in OM)
Property Facts
| Property Type | Hospitality | No. Stories | 2 |
| Property Subtype | Serviced Apartment | Year Built/Renovated | 1960/2019 |
| Building Class | B | Parking Ratio | 4.63/1,000 SF |
| Lot Size | 0.20 AC | Corridor | Exterior |
| Building Size | 7,104 SF | ||
| Zoning | MUI-A | ||
| Property Type | Hospitality |
| Property Subtype | Serviced Apartment |
| Building Class | B |
| Lot Size | 0.20 AC |
| Building Size | 7,104 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2019 |
| Parking Ratio | 4.63/1,000 SF |
| Corridor | Exterior |
| Zoning | MUI-A |
Amenities
- Balcony
- High Speed Internet Access
- Patio
- Public Access Wifi
- Fully-Equipped Kitchen
About 1705 STATE ST , NASHVILLE, TN 37203
Total and complete renovation, top to bottom. All building systems including sewer and supply plumbing, HVAC, Tankless endless hot water system, fire sprinklers, exterior grounds, stairways, are new. Roof is approximately 6 years old.
Property Taxes
| Parcel Number | 092-12-0-240 | Improvements Assessment | $616,240 |
| Land Assessment | $680,000 | Total Assessment | $1,296,240 |
Property Taxes
Parcel Number
092-12-0-240
Land Assessment
$680,000
Improvements Assessment
$616,240
Total Assessment
$1,296,240
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