Sylvan Park property could see first new owner in 51 years | Development

It is unclear how much Jacobs might be asking for the property. For comparison, a nearby 1.1-acre property, located at 5025 Charlotte Ave., sold in mid-2020 for $4.5 million (read here). Jacobs’ property is about half that acreage and largely faces an interstate. 

The property is zoned for commercial usage, with marketing materials noting a daily traffic count of more than 12,000 vehicles using the 51st Avenue North segment on which the property sits. The property faces Interstate 40, north of which is located The Nations.

Also nearby are St. Ann Catholic Church, Turnip Truck and a Regions Bank. The latter operates from a building (see here) recognized for its gold, geodesic dome (a self-supporting structure made up of interlocking hexagons or triangles).

Jacobs has enlisted Spencer Smith, a senior associate with the Nashville office of Toronto-based Avison Young, to handle the marketing of the property.

“We have already had a significant amount of interest, and I look forward to seeing what development will unlock this excellent site’s full potential,” Smith emailed the Post.