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    8961 Tn-3 Millington, TN 38053

    Sponsored
    For Sale
    $1,785,090

    20 acres, Hwy 51 frontage, Opportunity Zone.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 20-acre commercial and residential land parcel presents a significant development opportunity in Millington, Tennessee. Strategically located on the west side of US Highway 51, this property enjoys high visibility and convenient access. Across the highway sits a Hampton Inn and Homer Skelton Ford dealership, underscoring the area's strong commercial presence. The site is situated just north of the thriving Forked River Commons retail center, home to national retailers such as TJ Maxx, Hobby Lobby, Aldi's, Dollar Tree, Mattress Firm, LongHorn Steakhouse, and Chicken Salad Chick. This prime location benefits from Millington's ongoing commercial and residential growth, fueled by nearby major developments. The property's designation as an Opportunity Zone offers substantial tax advantages for investors. Sewer access is available from the east side of Highway 51. The site is divisible, with pricing adjusted based on parcel size and location within the 20-acre tract. The land value ranges from $87,120 to $130,680 per acre. This property is ideally suited for a variety of commercial and residential projects, capitalizing on Millington's growth trajectory and the proximity to Ford's Blue Oval City (30 miles north) and Elon Musk's SuperComputer facility in Memphis. The asking price for the entire 20-acre parcel is $1,785,090.

    Property Features for 8961 Tn-3

    General Information

    Property type
    Land

    HighLights

    • 20‑acre commercial and residential land parcel in Millington, TN with US Hwy 51 frontage.
    • High visibility location across from Hampton Inn & Homer Skelton Ford.
    • Adjacent to the Forked River Commons retail center, anchored by national retailers.
    • Benefits from proximity to Ford's Blue Oval City (30 miles) and Elon Musk's Supercomputer facility.
    • Designated Opportunity Zone offering significant tax advantages.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Millington
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.882412082231
    Latitude
    35.370649334668

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    FAQs

    What type of property is this?
    Land - 20 acres, Hwy 51 frontage, Opportunity Zone.
    Where is this land located?
    The property is located at 8961 Tn-3 Millington, TN.
    What is the asking price?
    The asking price for this property is $1,785,090.
    What are key features of this property?
    This property features: 20-acre commercial and residential land parcel in Millington, TN with US Hwy 51 frontage.; High visibility location across from Hampton Inn & Homer Skelton Ford.; Adjacent to the Forked River Commons retail center, anchored by national retailers.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    8961 Tn-3 Millington, TN 38053
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