Members of Nashville’s Reed Circle of Relatives, known for their history of car dealerships, have put up for sale for approximately $3.5 million an Antioch asset located near Interstate 24.
Jim Reed III’s overdue debt acquired 5.6 acres assets in 1985 for $919,960 via Broadway Realty Co., according to Metro records. Reed III, in 1986, abandoned the application for deed ownership, located at 5300 Mount View Road, to an entity that includes sons Jim Reed IV and John Reed.
The value of the assets is $3,525,000, according to marketing materials. Until 2017, Nelson Mazda operated on the site. Action HVAC Repair Antioch also provides the assets.
Reed’s circle of relatives is in the process of promoting its leading genuine real estate assets in Midtown, probably for more than $100 million, to Houston-based real estate advertising company Hin (read more here). Nashville Subaru operates from this 11.1-acre asset that borders Broadway and Church Street.
Antioch’s assets now for sale give two buildings with a 23,469-square-foot collective domain. The initial value is approximately $14 consistent with the foot in the domain and $150 consistent with the foot in the length of the buildings.
The Reeds asked Lee White and Treanor Granbery, agents of Nashville-based real estate company Southeast Venture, to manage the marketing and sale of the property.
Jim Reed Chevrolet Co., founded in 1930 through Jim Reed Jr., according to the Nashville Business Journal. The Broadway property, believed to be under contract with Hines, has long been known for its cowboy signage when Reed Chevrolet operated on the site.
Jim Reed III died in 2010 at the age of 90.