Closed car dealerships can be hard to sell

NASHVILLE, Tenn. -- Car dealerships have been going out of business in record numbers over the past two years, and they're leaving behind large, empty lots that can be hard to sell.

Sellers and real estate agents say finding buyers for the lots and huge showrooms can be challenging.

Former Nashville Chrysler-Jeep-Dodge dealer Bill Pratt said, "There are other good uses for these properties. They make decent plumbing-supply stores and boat dealerships. I've seen a lot of carpet businesses take them over because there is plenty of inside storage, and I've seen some turned into nightclubs. But some of them I've seen bulldozers run through because they're more valuable for their land."

Bobby Joslin bought a Nashville property seven years ago that formerly housed the Superior Volkswagen-BMW dealership. It is now home to his sign business.

"It's worked out to be a great location for us," he said. "We have a showroom in front and a shop in the back for our signs."

Bristol auto dealer Bill Gatton owns former Saturn stores in Clarksville and the Rivergate area of Goodlettsville. He closed both of them recently after General Motors Co. dropped the Saturn brand.

"We do have a good prospect for the Clarksville location, which is about seven acres with a 26,000- square-foot building," Gatton said. "But we haven't done anything with Rivergate yet, and I would really like to buy another new-car franchise to put in there."

In Murfreesboro, the old Stones River Mitsubishi store has been vacant since 2007.

But a mile away, the former Neill-Sandler Buick-Pontiac-GMC store, which closed a year ago has been purchased by former Smyrna Mayor Bob Spivey. He plans to convert it into a full-service used-car dealership.

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Information from: The Tennessean, http://www.tennessean.com