Airport-area property listed for sale | Development

As the Post reported in mid-2022, Cincinnati-based development company Neyer Properties paid $2 million for the 4.94-acre property, with an address of 713 Ermac Drive. The seller was an LLC seemingly affiliated with Fargo, N.D.-based Tharaldson Hospitality Management.

In 2022, Neyer Properties seemingly was considering redeveloping the 713 Ermac site with a 150-unit apartment building, with the company still open to doing so with via a joint venture, as well as on four parcels located across Ermac.. According to a permit filed with Metro at the time, the building was to have offered 75 one-bedroom units and 75 two-bedroom residences.

Neyer Properties also owns five other properties — four of which are now listed for sale — sitting near the 713 Ermac parcel. The collective acreage of the multi-parcel for-sale site is 4.09 acres out of a total 12.92 owned along the corridor. The addresses of that property are 628 Ermac, 634 Ermac, 640 Ermac and 646 Ermac.

Neyer Properties owns six other area properties (including the 713 Ermac site). 

Neyer Properties has enlisted the local office of Charlotte-based Capstone Apartment Partners to handle the marketing of the properties. The marketing materials note the four for-sale properties are suitable for residential (apartments, condominiums, short-term rental and townhomes), hotel, office and/or retail uses.

The properties sit near a building housing the Tennessee Lottery Corp.

Neyer Properties is not affiliated with Al. Neyer LLC, which is also based in Cincinnati and is undertaking multiple real estate deals locally (read here).