MIXED USE BUILDING: RESTAURANT & OFFICE
1120 4th Ave. North
Nashville, TN 37208
FC purchased this 11,000 square foot building at an incredibly low cost that was below market value. In a neighborhood that was on the verge of blowing up into a restaurant real estate hotspot, this former rebar manufacturing facility wasn’t necessarily an obvious grab, but Fresh Capital saw the potential. Fresh had the vision to design and implement a continuous tri-restaurant renovation that would add value to the Germantown neighborhood and simultaneously add value to FC’s portfolio.
Further, the building’s location is positioned to take advantage of over 3400 multi-family units, some of which have direct eyesight to the space. In a walkable neighborhood that is quickly becoming one of Nashville’s most popular and trendy, bringing a trio of Fresh restaurants fulfilled many residents’ desire for casual neighborhood dining.
With this total “overhaul” renovation, FC adhered to the strict Historic Commission guidelines and restrictions, keeping the design and structure consistent with that of the neighborhood, gaining good will among residents and neighbors.
Both the old space and historic guidelines provided many obstacles: asbestos and lead were found in the building, and extreme and unforeseen structural issues gave the FC team some major challenges. In the end, however, FC delivered a high-quality finished space to each restaurant and office tenant. Furthermore, since the project’s completion, the office space has oft been called, “the coolest office space in Nashville.”
To make this project possible, FC sourced debt financing and syndicated equity to a mixture of old friends and family, while also reaching out to new partners.
Upon completion of the project, Fresh Capital won an award from the Nashville Preservation Society for the work done to this successful finished project.