John Rich and his partners have closed the sale of the Cotton Eyed Joe building at 200 Broadway in Nashville for $24.5 million this week, which is a 32% profit from the original purchase price of the building in 2019 for $18.5 million. The deal was brokered by Seth Harlan of Robin Realty for TAC 200 Broadway, LLC, and the undisclosed buyer will take possession of the property immediately.
The Cotton Eyed Joe building neighbors Rich’s Redneck Riviera, a honky tonk and restaurant in the district. Nashville’s Lower Broadway district has experienced huge growth with its celebrity-based honky-tonks, an upscale shopping, residential and commercial complex, major TV specials filmed there, the NFL Draft, and more. The area is home to the highest grossing bars and restaurants in Nashville with revenue between $18-$23 million per year, according to Rich.
“I have been playing music and building a dream career in Nashville for well over half of my life,” says Rich. “This town has given me so many opportunities on so many levels, it has literally changed my life. The past decades of singers and songwriters that landed here before me are the shoulders I stand upon, and the new talent that arrives in Nashville in the future will all benefit from a healthy and strong Music City. America gives us the right to pursue our dreams and I have and will continue to do that right here in Nashville. As this great city continues to evolve, we welcome our new neighbors here on Lower Broad as they set forth on fulfilling their goals.”
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