10047 Ms-178 Olive Branch, MS 38654
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4.19-acre prime development land.
Property Features for 10047 Ms-178
General Information
- Property type
- Land
- Lot Size
- 182,516 SF
Listing Agency: Woodyard Realty Corporation Listing Agent: Lea Heilig
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional 4.19-acre commercial and residential land parcel, located at 10047 MS-178 in Olive Branch, Mississippi, presents a unique investment opportunity. Priced at $979,000 ($233,000/acre or $5.50 per square foot), this fully entitled mixed-use site is situated in the rapidly growing city of Olive Branch, part of the Memphis MSA. The approved plans include 65 upscale residences and 10,000 square feet of retail space. A comprehensive amenity concept is incorporated, featuring an onsite management office, gym and workout facilities, controlled access, parks, and green spaces. Utilities are already connected to the site. Olive Branch boasts a 90% population increase over the past two decades and is recognized for its excellent public schools and highly-rated workforce. The city's main commercial corridor, Goodman Road, provides easy access to various retailers, dining, services, and entertainment options. The area experiences a low multifamily supply due to a recently lifted moratorium, resulting in strong fundamentals, with newer communities showing 2.3% vacancy and average lease rates of $1.50 per square foot. Class A apartments in Memphis suburbs average lease rates up to $2.21 per square foot. This site offers significant potential for substantial returns in a thriving market. The property's zip code is 38654.
Property Profile
Location Intelligence
Current Use by Public Records
Commercial real estate
Map
- City
- Olive Branch
- County
- Desoto
- State
- Mississippi
- Longitude
- -89.81159
- Latitude
- 34.94847
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FAQs
What type of property is this?
Land - 4.19-acre prime development land.
Where is this land located?
The property is located at 10047 Ms-178 Olive Branch, MS.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: High-growth Olive Branch, MS location; part of Memphis MSA, boasts strong infrastructure and over 80 manufacturing/distribution centers.; Low multifamily supply in DeSoto County due to recently lifted moratorium creates strong fundamentals.; Existing multifamily properties (mid-2000s construction) show 2.3% vacancy and $1.50/SF average lease rates; newer Class A suburban Memphis apartments command up to $2.21/SF.
