Memphis Multifamily Redevelopment Opportunity | ±144,000 SF | ±17.29 Acres

For Sale

690 Mississippi Blvd & 0 Phelan Ave, Memphis, TN 38126

This Memphis property for sale is located at 690 Mississippi Blvd & 0 Phelan Ave. The current listed sale price for Memphis Multifamily Redevelopment Opportunity | ±144,000 SF | ±17.29 Acres is $4,950,000. Memphis Multifamily Redevelopment Opportunity | ±144,000 SF | ±17.29 Acres is situated on a lot that is 17.29 acre in size.

Contacts

broker

John DeYonker

Bull Realty

(404) 876-1640

Property Details

  • Property Type VacantLand
  • Lot Size 17.29 Acre
  • Date Updated Mar 26, 2024
Memphis, TNGeorgia Avenue School represents a dynamic opportunity to acquire a ±144,000 SF of desirable, adaptive-reuse redevelopment asset on ±8.99 acres, with an additional, level, adjacent ±8.3 acres of flat developable land (total of ±17.29 acres). It is located near downtown Memphis in a rapidly developing area close to entertainment and the medical district. The property is currently zoned RU-3, which allows for development of mixed-use, multifamily, educational facility and office. Other possible uses include assisted living, hospice, nursing home, recreation, churches, and many other commercial uses. The conceptual plan herein shows the school being repurposed and additional multifamily units being developed for a total of approximately 400 units. The site boasts road frontage on three sides, multifamily zoning of RU-3 - Urban Residential, and all utilities available at the site. The site can qualify for Historic Tax Credits, New Market Tax Credits (NMTC), as well as Low Income Housing Tax Credits (LIHTC) and is located in a Qualified Opportunity Zone.

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Highlights

  • ±17.29-acre site with ±144,000 SF building ideal for adaptive-reuse development
  • Site located in South City master redevelopment plans to be used for multifamily development
  • Includes conceptual plan
  • Zoned RU-3
  • All utilities available at site
  • Many local and federal tax incentives available
  • Memphis undergoing major growth with many downtown developments under construction
  • Bull Realty TN license # 259046

Attachments

Getting around

  • 49/100

    Walk Score ®

  • 35/100

    Transit Score ®

  • 72/100

    Bike Score ®

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Location

  • City Memphis, TN
  • Neighborhood Downtown Memphis
  • Zip Code 38126
  • Market Memphis

Points of Interest

  • Central Station

    0.94 miles

  • Orleans

    0.95 miles

  • Memphis Central Station

    0.98 miles

  • Butler

    0.99 miles

  • Huling

    1.00 miles

  • Danny Thomas

    1.00 miles

  • Dr. Martin Luther King, Jr.

    1.03 miles

  • Dunlap

    1.04 miles

  • Beale Street

    1.08 miles

  • Pauline

    1.15 miles

  • Valero

    0.47 miles

  • Mobil

    0.71 miles

  • Exxon

    0.73 miles

  • Valero

    1.26 miles

  • Exxon

    1.33 miles

  • BP

    1.90 miles

  • Kroger

    1.98 miles

  • Citgo

    2.11 miles

  • Shell

    2.17 miles

  • BP

    2.22 miles

  • FedEx Forum Parking Garage

    0.83 miles

  • Peabody Place Parking Garage

    0.98 miles

  • Hilton Garden Inn Lot

    1.01 miles

  • Metropolis

    1.05 miles

  • The Lofts at South Bluff Parking

    1.16 miles

  • Toyota Center Parking Garage

    1.16 miles

  • One Commerce Square Garage

    1.18 miles

  • First Tennessee Bank Parking Garage

    1.18 miles

  • AutoZone Store Support Center Garage

    1.20 miles

  • Parking Can Be Fun

    1.21 miles

  • The Inn at Hunt Phelan

    0.67 miles

  • The Westin Memphis Beale Street

    0.93 miles

  • La Quinta Inns & Suites Memphis Downtown

    0.95 miles

  • The Central Station Memphis, Curio Collection by Hilton

    0.97 miles

  • Hampton Inn & Suites Memphis - Beale Street

    0.98 miles

  • Hilton Garden Inn Memphis Downtown

    1.05 miles

  • Motel 6 Memphis Downtown

    1.05 miles

  • DoubleTree by Hilton Memphis Downtown

    1.06 miles

  • The Peabody Memphis

    1.11 miles

  • Canopy by Hilton Memphis Downtown

    1.12 miles

  • Peabody Place

    1.02 miles

  • Viet Hoa Food Market

    1.74 miles

  • Cash Saver

    2.19 miles

  • Kroger

    2.28 miles

  • Cordelia's Market

    2.36 miles

  • Kroger

    2.53 miles

  • The Fresh Market

    3.04 miles

  • Kroger

    3.41 miles

  • Aldi

    4.99 miles

  • Kroger

    5.37 miles

In-Depth Research Available for this Property

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Contact Listing Broker

broker

John DeYonker

Bull Realty

(404) 876-1640