A commercial property located at 3800 Dickerson Pike in North Davidson County has been sold for $4 million, nearly double its previous sale price from early 2021. The transaction involves veteran Brentwood-based real estate investor Hassan “Hoss” Mousavi as the seller and an entity linked to the property's current tenant as the buyer.
The sale highlights continued investor interest in the Dickerson Pike corridor, an area undergoing significant commercial and residential development. The property, spanning 1.84 acres, is situated approximately 1.5 miles from TriStar Skyline Medical Center.
Key Takeaways
- A commercial property at 3800 Dickerson Pike sold for $4 million.
- The seller, investor Hoss Mousavi, had purchased it for $2.15 million in February 2021.
- The buyer is Felterra Property Holdings LLC, an entity created by Jamie Felts, president of the engineering firm operating from the site.
- The sale price represents an 86% increase in value in less than five years, reflecting strong market appreciation in the area.
Details of the Transaction
The sale of the property was finalized with Felterra Property Holdings LLC as the new owner, according to official documents from the Davidson County Register of Deeds. The entity was established for the purchase by Jamie Felts, who serves as the president of Terrain Civil, a Nashville-based civil engineering firm.
Terrain Civil currently conducts its operations from the building at 3800 Dickerson Pike, making this a strategic acquisition for the company's leadership. This move secures the firm's long-term location and provides ownership of its operational base.
To facilitate the purchase, public records show that Felts secured a loan valued at approximately $3.64 million from ServisFirst Bank, a financial institution based in Nashville. The loan covers a significant portion of the $4 million acquisition price.
A History of Increasing Value
The recent $4 million sale price marks a significant milestone in the property's transaction history, underscoring the rapid appreciation of real estate along Dickerson Pike. The seller, Hassan “Hoss” Mousavi, acquired the property through his company, Richland South, for $2.15 million in February 2021.
Rapid Value Appreciation
The property's value increased by $1.85 million, or approximately 86%, in the roughly four and a half years under Mousavi's ownership. This reflects a broader trend of rising property values in North Davidson County.
Before Mousavi's purchase, the property was owned by Bradley Peterson. Peterson, along with a business partner, bought the site in mid-2007 for $750,000. For many years, the building housed Peterson's business, Retool, which specialized in buying, selling, and trading used tools.
The significant jump from $750,000 in 2007 to $2.15 million in 2021, and now to $4 million, illustrates the area's transformation over the past two decades. Metro records also indicate that the property has a notable ownership history, having once been held by both The Community Foundation of Middle Tennessee and Tractor Supply Co.
The Seller: Investor Hoss Mousavi
Hassan “Hoss” Mousavi is a well-known figure in Nashville's real estate investment circles. Operating primarily through his firm, Richland South, he has a long track record of buying and selling a diverse portfolio of properties across both urban and suburban Nashville.
Mousavi's investment strategy has often involved identifying properties in transitional neighborhoods with high growth potential. His past holdings demonstrate a keen eye for valuable locations.
Notable Past Investments
- SoBro Property: Mousavi previously owned the building in the SoBro neighborhood that was home to the now-closed Czann's microbrewery.
- Third Man Records Adjacent Site: He also owned a building located next to Jack White's Third Man Records. He sold that property to the nonprofit organization Room In The Inn for $3.05 million.
These transactions highlight Mousavi's active role in some of Nashville's most dynamic and rapidly changing commercial districts over the years.
Context of the Dickerson Pike Corridor
The 3800 Dickerson Pike property is located in a key area of North Nashville that has seen a surge in new development. Its position just south of the intersection with Old Hickory Boulevard places it at a strategic commercial crossroads.
Nearby Affordable Housing Development
Directly across the street is the Buffalo Trail Apartments, located at 3711 Dickerson Pike. This 240-unit affordable rental housing complex was developed by Louisville-based LDG Development and represents a significant investment in residential housing for the community.
The presence of new, large-scale residential projects like Buffalo Trail often acts as a catalyst for further commercial investment and development. The growth in population density increases demand for local services, retail, and office space, which in turn drives up commercial property values.
The property's proximity to TriStar Skyline Medical Center also adds to its strategic value, making it a desirable location for businesses that service the healthcare industry or cater to its large workforce. The ongoing development in the corridor suggests that property values may continue to appreciate as the area becomes more integrated with Nashville's broader economic growth.
At the time of reporting, it was not publicly disclosed whether any real estate brokers were involved in facilitating the transaction between Mousavi and Felterra Property Holdings.
