Feb 21, 2023 - Development

Property in the heart of NoDa sells for $10.3M to owners who plan “further enhancements”

Photo: Katie Peralta Soloff/Axios

The building housing Neighborhood Theatre, Salud Cerveceria and Boudreaux’s has been sold for $10.3 million to Nashville real estate investment manager AJ Capital Partners, which plans “further enhancements to the property.”

That’s according to Stream Realty Partners, which represented the seller, Charlotte-based Ascent Real Estate Capital, in the transaction.

Details: The 26,447-square-foot property is at the corner of North Davidson and 36th streets.

  • In a statement Tuesday, Stream senior associate Alex Olofson said the new owners “will maintain the authentic use of Neighborhood Theatre as a storied piece of our city’s history.”
  • AJ Capital Partners bought the property from Ascent Real Estate Capital, which had purchased it in 2016 for $5.6 million, real estate records show.

Why it matters: The prominent property houses local eclectic small businesses that help give NoDa its distinct personality.

Zoom out: The building has a long history that includes housing a movie theater, a motor company and a soda shop, as the Observer noted.

What’s next: It’s unclear what sort of enhancements AJ Capital Partners is planning. A representative from the company did not respond to a request for comment.

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