All right, let's get into a case study

for 2820 or 0 Dickerson Pike.

Here's the original listing page.

This was a 13 acre piece of property,

vacant land that my brokerage team actually sold

for a client on Dickerson Pike.

And it was a straight up land play, right?

They just land banked this deal,

bought it, I wanna say, let's look at the parts of the door.

They bought it in 2017 for about 4.8 million

and we sold it in 2021 for eight and a half million.

Now they had bought on a corridor

that ended up taking off very rapidly.

It was on one of the few major thoroughfares

in and out of town that hadn't really popped off yet

in Nashville.

So as Nashville was growing, it was relatively inevitable

that at some point this part of town

will start getting developed.

So let's go through kind of the details

of what they bought here.

You can see here, we had actually,

so this piece of property had been listed before.

Once they bought it,

they pretty much turned around and listed it, right?

Which is something you can, of course,

always do when you're doing a land bank play

because you never know when somebody's gonna come along

and find it to be valuable.

And they never really got much traction

because the other brokerage teams

didn't really have anything to market

other than vacant land.

So we actually went and hired this company called Openworks

to put together a rough site plan

of what could be done based on the zoning there.

And that made all the difference in the world.

We ended up going under contract

within probably 30 to 45 days

of actually releasing these renderings

because potential buyers could see

what could be done there, which is pretty interesting.

And this was all by right.

So we ended up having a multifamily group come in.

We showed some commercial in the front here

and some multifamily in the back,

but it was actually all zoned for either or.

And an apartment developer came in

and ended up buying it for about 300 apartment units.

You see how close to downtown Nashville it was.

So that's one of the things to keep in mind

when you're looking at a land bank play

is what are the major corridors going in and out of town

that haven't really popped off yet?

You can see here, we're only, I don't know,

maybe three miles from downtown Nashville

and it's just 13 acres of vacant land.

I mean, at some point,

that is going to be valuable to someone.

So here's the actual concept package.

And I'm gonna put this in the course as well

for you to have so that you can just look through it.

But we highlighted a development right here

that had been done back in 2017.

There was 81 cottage units that were for sale

and they had a cumulative zero days on market.

That means every time they released a new phase,

every single unit went under contract that day.

That's how popular this area was becoming.

You can see too that we've got

some pretty good interstate access.

Going through right here,

we've got a major east-west connection right here

throughout east Nashville.

You've got Ellington Parkway to get to downtown

and then just north,

we're actually facing south towards downtown Nashville.

Just north up here, we had another interstate access.

So the accessibility was really good.

I think from downtown, we're probably eight minutes.

And then we just kind of broke it down.

You know, this probably cost us $3,000 to $5,000

and we ended up selling it for $4 million more

than what they had paid for it.

So it is so worth it if you have a piece of property

that you feel is underutilized

or just a piece of land you're trying

to figure out what to do,

to have what's called a massing study

or a yield study done.

That is essentially what this is.

It just shows what can be built there

and how much of it can be built.

So you'll see here under the townhomes,

they have estimated height two to three floors

with a footprint 35 by 22
and gross square footage of each floor, 770 square feet.

So somebody coming in here can actually see,

okay, well if I wanted to do this exact plan right here,

here's how big every building can be per this plan.

Now one thing that I made sure to do in my marketing

was just say, hey, this is a sample site plan.

You have flexible zoning.

This is just intended to show you the wide variety

of uses that can be done here.

You're not locked into this.

Because some people will see a plan like this

and they'll go, oh, okay,

that's the only thing I can build there.

Well, I don't do office space.

And so what we wanted to make clear to them was like,

okay, well if you don't want office space,

I mean, building E could be another apartment complex.

You've already got a parking deck right here.

So that's kind of how we approached it.

We went with multiple different angles

so you could see kind of what it would look like,

how it would lay out on the site,

which just made it so much easier for that group

to come in and make a decision.

Let's look here.

So you can see kind of how the site laid out.

There's another piece actually back here

that we tried to get that we were unable to.

They ended up selling I think this and this to another buyer.

But again, you're not far from town.

So one thing to keep in mind

when you're looking at these land plays

is look at how close you are to the urban core,

which would be downtown, right?

So you can see Nashville right here.

But then look at all of the major connective streets.

All right, so we have I-65 that goes right by it.

You've got this major east-west corridor right here.

You've got another major east-west corridor loop

going around the entire city.

You've got a fork as well in the interstates.

And there's multiple ways

to get back into downtown Nashville,

including through Ellington Parkway right here.

So that's a little case study for Zero Dickerson Pike.

Yeah, I mean, you can see they only kept it

for about four years.

They picked the right piece of property.

They did have to carry it for a bit.

So they were having to maintain the property.

We did make sure that the lawn was always mowed.

Back to a certain point, I mean, on 13 acres,

you can't mow the whole 13 acres, right?

But we did keep the part

that was closer to the street cleaned up

so that we could at least drive through

and walk on site and show the property.

But we did just about everything that we could

for an incoming buyer

to be able to make their decision to move forward.

And there you have it for 2820 Dickerson.