Ray Of Hope Community Church


The Ray of Hope Community Church at 901 Meridian Street was packaged for sale with seven other adjacent sites as an exclusive opportunity for redevelopment in the fast transitioning Cleveland Park neighborhood in East Nashville.

901 Meridian Street | Nashville, TN

Disposition | Investment Sale

Acres:  3.07

Total Improvements:  45,000 SF

Sold Price:  $3,000,000

Marketing to LOI Timeframe:  Two weeks

 

The Assignment 

An established church engaged OakPoint to sell its real estate in order to relocate closer to its congregation.  The real estate included a three-acre campus comprised of 8 distinct tax parcels, divided by a main street, with multiple zoning districts, two ownership entities, multiple existing tenants, and a mid-1800s house on the National Register of Historic Places.

 

Action 

To avoid disruption to the active congregation, no property signage was used to market the property, which necessarily limited visibility for the sale. However, through extensive research to reach regional developers, investors, and other suitors, OakPoint approached a targeted list of buyers with a detailed marketing package that effectively summarized the collection of unique parcels involved in the sale.

 

Results 

Within two weeks of marketing the property, OakPoint created a competitive bidding environment and the client received multiple offers within the same week.  Through this process a buyer emerged with an offer to pay full asking price.  The client entered a contract with this buyer, and successfully closed on the sale in a timely manner under the terms of this contract.

 

Key Team Members

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Contact


Nashville

2 Music Circle South, Suite 200
Nashville, Tennessee 37203
615.997.0010 Email Nashville

Austin

8200 North Mopac Expressway, Suite 115
Austin, Texas 78759
512.241.0017 Email Austin