Nashville Airbnb Condos (2026): NOOSTR-Eligible Buildings

Last Updated: June 15, 2026

Nashville Airbnb condos are limited to a small set of buildings. Two separate rules must align. First, the building must sit in a NOOSTR-eligible zoning district under Metro Codes’ BL2019-1633. Second, the building’s HOA bylaws must permit short-term rental. Both conditions must be true. Most established Downtown and Gulch condo buildings sit in NOOSTR-eligible zoning. However, their HOA bylaws prohibit short-term rentals. This removes them from the eligible list. For where the eligible buildings cluster, see the best Nashville areas for short-term-rental investment. As of May 2026, Hyve at 635 7th Avenue South is the only currently-delivered Nashville condo building purpose-built for short-term rental investment, and Allegro at 621 Middleton Street is the next purpose-built NOOSTR product, with first deliveries expected in 2026.

What Makes a Nashville Condo NOOSTR-Eligible?

NOOSTR is the Metro Codes abbreviation for non-owner-occupied short-term rental. A NOOSTR permit allows the unit owner to operate the unit as an Airbnb, VRBO, or similar STR product without being required to live in the unit. Operating a condo as an Airbnb in Nashville requires both:

1. Zoning eligibility. The unit must sit in a zoning district where new NOOSTR permits can issue under BL2019-1633. The eligible districts include DTC (Downtown Code), MUL, MUG, MUI, OG, OR20 through OR40-A, ORI, CN, CL, CS, CA, CF, SCN, SCC, and SCR. Most Downtown, Gulch, SoBro, and Pie Town addresses fall in DTC, which is the largest source of eligible inventory.

2. HOA bylaws permitting short-term rental. This is the rule that disqualifies most established condo buildings. Even when a building sits in DTC zoning, the HOA’s covenants can prohibit owner-operated STR. Buyers commonly assume that DTC zoning is enough. It is not. The HOA bylaws govern what the unit owner can actually do.

The buildings that pass both tests in 2026 are listed below. Buildings that sit in DTC zoning but whose HOA bylaws prohibit STR are listed in the “Not currently NOOSTR-eligible” section below to capture the search intent on those building names.

Currently NOOSTR-Eligible Nashville Condo Buildings

Hyve

635 7th Avenue South, Pie Town. Delivered 2023. Hyve is Nashville’s first purpose-built STR condo at scale. The building was designed from the ground up for short-term rental operation: studio and one-bedroom floor plans optimized for guest stays, on-site management infrastructure, and HOA bylaws written to permit NOOSTR operation. Hyve has produced 87 closed sales in the trailing 36 months at a $915,000 median sold price and a $761 median price per square foot. Median days on market is 5, which is the fastest turnover of any Nashville condo building in the dataset and signals durable STR investor demand.

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(all data current as of 6/15/2026)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Allegro

621 Middleton Street, Pie Town. First delivery expected 2026. Allegro is the next purpose-built NOOSTR product in the Pie Town corridor, following Hyve’s model with HOA bylaws written to permit short-term rental. Pre-construction inventory currently shows 7 active listings ranging from $795,000 to $1,350,000.

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(all data current as of 6/15/2026)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Nashville Airbnb Condos at a Glance

Currently-delivered NOOSTR-eligible Nashville condo buildings: 1 (Hyve)
Pre-construction NOOSTR-eligible buildings: 1 (Allegro)
Hyve median sold price (36 months): $915,000
Hyve median $/sqft: $761
Hyve median days on market: 5
NOOSTR zoning districts: DTC, MUL, MUG, MUI, OG, OR20-OR40-A, ORI, CN, CL, CS, CA, CF, SCN, SCC, SCR
HOA bylaws control: Yes. Zoning permission alone does not authorize STR. The HOA must also permit it.
Last verified: 2026-06-15

Buildings Commonly Searched but Not Currently NOOSTR-Eligible

Several Downtown and Gulch buildings appear in older search queries paired with “Airbnb” or “short-term rental” but are not currently NOOSTR-eligible because their HOA bylaws prohibit short-term rentals despite their DTC zoning. Buyers searching for these buildings as Airbnb investments should expect to find that the building’s HOA does not permit it:

• Icon in the Gulch at 600 12th Avenue South. DTC zoning. HOA bylaws prohibit STR.
• 505 Nashville at 505 Church Street. DTC zoning. HOA bylaws prohibit STR.
• Pullman at Gulch Union at 1212 Demonbreun Street. DTC zoning. HOA bylaws prohibit STR. Pullman is FHA-approved, which is a separate eligibility test from NOOSTR.
• Twelve Twelve at 1212 Demonbreun Street (same address as Pullman). DTC zoning. HOA bylaws prohibit STR.
• Terrazzo at 700 12th Avenue South. DTC zoning. HOA bylaws prohibit STR.
• The Residences at the Nashville Edition, Four Seasons Private Residences, and Pendry Residences are hotel-residence operating models. Owner-operated STR is not permitted because the hotel operator controls short-stay use.

If you want STR-investment exposure in a downtown-adjacent building, Hyve and Allegro are the two answers. The other downtown high-rises are excellent products for owner-occupants and traditional long-term rental investment, but not for Airbnb.

NOOSTR Permit Requirements (Buyer Side)

Even when the building permits STR, the unit owner must still obtain a Metro Nashville NOOSTR permit. The buyer-side requirements:

• Active NOOSTR permit from Metro Codes Department (renewable annually)
• Liability insurance meeting Metro minimums
• Local contact person reachable within 60 minutes
• Sales tax + occupancy tax registration with Tennessee Department of Revenue and Metro Government
• Compliance with Metro noise, parking, and occupancy density rules
• Annual renewal and inspection

The permit process takes approximately 30-45 days for a new NOOSTR permit. Existing permits can transfer with the unit at closing in most cases, which is a significant value driver for resale.

Investment Underwriting (General Framework)

STR-investment underwriting for a Nashville condo includes:

• Purchase price + closing costs + financing fees
• HOA dues (typically higher in STR-permitting buildings because of on-site management infrastructure)
• NOOSTR permit fees + annual renewal
• Cleaning + linens + supplies per booking
• On-site management or remote management fees (typically 18-25 percent of gross revenue)
• Sales tax + occupancy tax
• Property tax + insurance
• Mortgage debt service if financed

Hyve and Allegro buyers commonly underwrite to a debt service coverage ratio (DSCR) of 1.10 to 1.30 on STR-projected revenue. Achievable revenue varies by floor plan, view, and seasonality. For a unit-specific revenue projection, ask Grant for a custom proforma using portfolio comparable data.

How to Verify a Building’s STR Status

Three steps before contract:

1. Confirm zoning eligibility. Use Metro Codes property lookup. The unit’s tax parcel will show its zoning code.
2. Confirm HOA bylaws permit STR. Request the HOA covenants and bylaws from the listing agent or HOA management company. Specifically search for “short-term rental,” “transient occupancy,” “lease term minimum,” and “NOOSTR” language.
3. Confirm permit status. If the unit currently has an active NOOSTR permit, confirm with Metro Codes that the permit is in good standing and transferable.

Skipping any of the three steps creates risk. Grant has handled this process for over 550 Nashville short-term rental transactions and can manage the verification on your behalf during your offer period.

Nashville Airbnb Condo FAQs

How many Nashville condo buildings allow Airbnb operation?

Two purpose-built NOOSTR condo buildings are in the inventory as of 2026: Hyve (delivered 2023) and Allegro (first delivery expected 2026). A small number of other condo buildings in non-downtown zoning districts allow STR, but the inventory specifically positioned for Airbnb investment in core urban Nashville is limited to these two.

Is Pullman at Gulch Union an Airbnb condo?

No. Pullman is FHA-approved (a separate financing eligibility test) but the Pullman HOA bylaws prohibit short-term rental. Pullman is a strong owner-occupant building with a path to FHA financing, but it is not an STR-investment product.

Why is Icon in the Gulch not an Airbnb condo if it is in DTC zoning?

Zoning is one of two requirements. The other is HOA bylaw permission. Icon sits in DTC zoning, which allows new NOOSTR permits to issue at that address, but Icon’s HOA bylaws prohibit short-term rental. The HOA rule overrides the zoning permission.

What is the difference between NOOSTR and Type 1 / Type 2 STR permits?

Nashville’s STR licensing distinguishes between owner-occupied (Type 1) and non-owner-occupied (Type 2, also called NOOSTR). Type 1 permits allow the owner to rent the property as STR while living in the property as their primary residence. Type 2 / NOOSTR permits allow STR operation without the owner being required to live on-site. NOOSTR is what most condo investors are buying.

Can I get a NOOSTR permit for any condo in Downtown Nashville?

No. The HOA bylaws govern. Most established Downtown condo HOAs prohibit short-term rental, even when the building sits in DTC zoning. Hyve and Allegro are the two condo buildings where the HOA bylaws specifically permit it.

How much does a NOOSTR permit cost?

Permit application fee plus annual renewal. Specific dollar amounts are published by Metro Codes and change occasionally. Ask Grant for current fee schedule when underwriting a specific purchase.

Can the HOA change its STR rules after I buy?

Yes, by HOA vote per the bylaws’ amendment procedure. This is one of the underwriting risks specific to STR-permitted buildings. Hyve and Allegro were built with NOOSTR-permission in their original recorded covenants, which makes amendment harder than in a building where STR was permitted by silence rather than by explicit rule.

What happens to my NOOSTR permit if I sell the unit?

The NOOSTR permit transfers to the new owner at closing in most cases. The new owner must complete a permit transfer with Metro Codes within 30 days of close. An active, transferable NOOSTR permit is often a meaningful value driver in resale.

Related Nashville Condo Hubs

• FHA-approved condos in Nashville: 38 currently HUD-approved Davidson County projects.
• Nashville luxury high-rise condos: Buildings averaging above $1.25M.
• How to buy a condo in Nashville: Full 8-step buyer process.
• Nashville condo prices by neighborhood: Verified MLS data across 12 neighborhoods.
• Nashville new construction condos: Delivered 2023-2025 and pre-construction.

Work With a Nashville STR Specialist

Grant Hammond is a Nashville real estate broker at Compass RE with more than 550 short-term rental transactions completed across the Nashville market. His direct experience covers both purpose-built STR product (Hyve, Allegro, VOCE Hotel and Residences, Odyssey at the Park) and traditional NOOSTR underwriting in mixed-use neighborhoods. To discuss a specific Nashville Airbnb condo purchase, request a custom revenue proforma, or verify a building’s STR status, contact Grant directly at (615) 945-7123.

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Compass RE compensation disclosure: Broker fees are not set by law and are fully negotiable.