Capstone Closes $14.5 Million Sale of 39.1-Acre Multi-Family Development Site in Nashville MSA

NASHVILLE, TN—Capstone Land Sales announces the $14.5 million sale of a 39.1-acre development site in the burgeoning Nashville suburb of Smyrna, Tennessee. Situated with high visibility along Sam Ridley Parkway, this site is nestled between the North Rutherford Family YMCA, Motlow College, and brand-new commercial. The location offers a plethora of local amenities for its residents within a short walk.

Capstone’s Austin Heithcock, Adam Klenk, Tyler Mayo, Luke Searcy, Jonathan Hawks and Jordan Arand sold the property on behalf of Waldron & Sons. The buyer, Tampa-based 2nd Wave Development, successfully rezoned the site to a Planned Residential Development (PRD) allowing for a rental community comprised of flats and single-family homes.

After the successful approval of the PRD, 2nd Wave’s Stephen Gerhard stated, “we are excited to be a part of the Smyrna community and look forward to further enhancing the region with this project.”

Construction is anticipated to begin early 2023.

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