Apartment Conversion
For Sale
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6020 Shelby Oaks Drive, Memphis, TN 38134
Vacant hospitality property with an apartment redevelopment concept, including a newly installed roof and existing elevator infrastructure.
Property Size41,280 SF
Price / SF$48.45
Days on Market51
Property Features for 6020 Shelby Oaks Drive
General Information
Standard status
Active
Size
41,280 SF
Property subtype
Multifamily, Hospitality
Building Details
Year Built
1985
Year Renovated
2022
Buildings
1
Stories
3
Listing Agency:
Woodyard Realty Corporation
(901) 767-1998
Listed By:
Lea Heilig · License #TN 291983
Source:
Crexi
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 9 at 1:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Woodyard Realty Corporation
Investment Insights
Based on property information with market context.
This redevelopment opportunity is based on a vacant 97-key hospitality asset with an apartment conversion concept and a preliminary plan to create approximately 80 apartment units. The property was originally built in 1985 and includes an existing elevator and common-area infrastructure intended to support the conversion effort.
Significant work has already been completed toward readiness for redevelopment, including installation of a new roof and other substantial remediation. With the base building systems and circulation already in place, the project is structured around converting the existing improvements rather than starting from scratch.
For buyers and developers looking for a multifamily redevelopment project, this offering provides a defined conversion premise and documented capital work to date. Interested parties can review the conversion plan and confirm project scope, unit mix, and all related costs and timelines, as projections referenced with the concept should be independently evaluated. The property’s combination of prior hospitality buildout, existing elevator/common-area infrastructure, and completed roof replacement may help streamline early phases of redevelopment planning.
Significant work has already been completed toward readiness for redevelopment, including installation of a new roof and other substantial remediation. With the base building systems and circulation already in place, the project is structured around converting the existing improvements rather than starting from scratch.
For buyers and developers looking for a multifamily redevelopment project, this offering provides a defined conversion premise and documented capital work to date. Interested parties can review the conversion plan and confirm project scope, unit mix, and all related costs and timelines, as projections referenced with the concept should be independently evaluated. The property’s combination of prior hospitality buildout, existing elevator/common-area infrastructure, and completed roof replacement may help streamline early phases of redevelopment planning.
Key Highlights
- Year built 1985 hospitality property; vacant and positioned for an apartment redevelopment conversion concept
- Preliminary 80‑unit apartment conversion concept using existing on‑site elevator and common‑area infrastructure
- New roof installed and significant remediation performed
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 38134, TN
41,760
Population
15,685
Households
2.7
Avg Household Size
35
Median Age
21%
College-Educated
86%
High-School Grad
18.6 sq mi
ZIP Area
2,245
Density / Sq Mi
$61,172
Median Household Income
$39,185
Median Earnings
$1,147
Median Rent
$184,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Vacant hospitality property with an apartment redevelopment concept, including a newly installed roof and existing elevator infrastructure.
Where is this apartment building located?
The property is located at 6020 Shelby Oaks Drive Memphis, TN.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Year built 1985 hospitality property; vacant and positioned for an apartment redevelopment conversion concept; Preliminary 80‑unit apartment conversion concept using existing on‑site elevator and common‑area infrastructure; New roof installed and significant remediation performed
