SomeraRoad, the Nashville-based development company undertaking the multi-building mixed-use Paseo South Gulch project on Eighth Avenue, has the nearby property once home to the just-closed Arnold's Country Kitchen under contract.
A meat-and-three institution, Arnold's served its last meals on Saturday. The main address of the three-parcel site is 605 Eighth Ave. S. in the Gulch, with the SomeraRoad development unfolding across the street.
Arnold's owner Rose Arnold owns the 0.47-acre property via Arnold Real Properties LLC, having paid $921,780 for it in October 2012, according to Metro records.
According to sources, SomeraRoad will purchase the property; however, Scene sister publication the Nashville Post has been unable to determine an acquisition price. For comparison and in December 2021, Atlanta-based North Point Hospitality paid $5.5 million for a 0.32-acre property once home to Jackalope Brewing Company and located at 701 Eighth Ave. S. one-half block from Arnold's. That deal (read more here) was believed to be a record at the time.
With the North Point deal as context, Arnold could land at least $7.3 million for her property — thus representing approximately eight times the figure for which she paid for it about a decade ago.
SomeraRoad officials declined either to confirm that the company has the property under contract or to provide comment.
Citing general weariness of operating a restaurant business for 40 years and property taxes that continued to create a financial burden, Arnold told the Scene she and son Khalil "wanted the chance to exit on our terms.” She added she was not pressured to sell.
Prima in Paseo South Gulch
SomeraRoad owns one property, with an address of 631 Eighth Ave. S., located on the west side of Eighth Avenue from the CSX railroad bridge on the north to Division Street on the south. As noted, North Point owns a segment of that stretch, with other individual owners seemingly standing pat for now, according to sources.
To the immediate south of the Arnold's property is the building home to Carter Vintage Guitars. Christie and Walter Carter own that property, having paid $717,435 for it in 2012 via an associated entity, Metro records note. SomeraRoad owns the adjacent property (a surface parking lot), for which it paid $3.5 million in April 2022 (read here).
To the immediate north of the Arnold's property sits a building home to Nashville Boot. Nicholasville, Ky.-based Shreeve Properties owns that property, having paid $227,500 for it in 2001, Metro records show.
Paseo South Gulch (read more here) is unfolding on the east side of the Eighth Avenue stretch, with construction of mixed-use building Prima now seemingly on the 10th floor.
This article first ran via our sister publication, the Nashville Post.
