The Lyman Building, built around 1900, is on the market for $10 million.

Three lots adjacent to the space, totalling nearly half an acre, were also included in the sale.

"It's historic, and everyone likes to look at historic properties," said Rob Wagner, listing agent for Benchmark Real Estate." And it's been completely restored, which is great. It's located in a very sought-after part of Nashville. It opens up a whole world of opportunities for buyers."

The building is located in the Chestnut Hill neighbourhood, close to many shops and restaurants.

The building is zoned Mixed Use and is currently a high-end, 3,494 square foot recording studio. It has three bathrooms and a kitchen.

"It's red brick, which is a classic look in Tennessee," Wagner said." When you open the front door, it's so welcoming. It has tons of character. ...... You have all the new stuff and then there's a lot of old elements mixed in, which makes it really cool."

The building was a doctor's office before housing Layman Drugs, which closed in 1993.

"It's really cool because there's a living area above the shop, which was very common in the late 19th century," Wagner said.

He noted that it would be fairly easy to redevelop the property into residential space.

The current owners bought the place in 2015 for $1.05 million. At the time it was a neglected duplex, which they converted into a recording studio.

"They actually rebuilt the entire front of the building, brick by brick," Wagner says." They took it apart and put it back together to make it stronger, better and more solid for decades to come."

The owners also replaced all the mechanical parts of the building, but kept many of the charming details, such as the historic ceiling and signage.

Wagner says that while the building itself is remarkable, the three additional lots make the property almost infinitely versatile.

It "could be a drugstore again, with people living on it," he says." Or someone could use the extra land and build some extra business, or flats, or whatever. It does have a lot of potential for development."