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    65 Carolina Ave Memphis, TN 38103

    Sponsored
    For Sale
    $2,490,000

    Prime industrial space, high redevelopment potential.

    Property size:
    5,280 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A industrial property, located at 65 W Carolina Ave in Memphis, TN (zip code 38103), presents a compelling redevelopment opportunity. The 5,280 square foot warehouse, built in 1991, sits on a 0.69-acre lot and is currently utilized as a freight distribution and trucking facility. The property features a single-tenant occupancy with a NNN lease type. The asking price is $2,490,000, translating to a price per square foot of $509.47. The two-story building is part of the revitalized South End area of downtown Memphis, an area experiencing significant transformation. Most former industrial sites in the immediate vicinity have been successfully redeveloped into residential apartments, condominiums, and retail spaces, indicating strong market demand for alternative uses. This presents a unique chance to capitalize on the high demand for retail or residential properties in this thriving urban location. The property's size and location make it ideal for a variety of redevelopment projects, offering significant potential for substantial returns. This is a rare opportunity to acquire a prime piece of real estate in a rapidly evolving downtown Memphis neighborhood.

    Property Features for 65 Carolina Ave

    General Information

    Property type
    Manufacturing properties
    Square Feet
    5,280 SF
    Class
    A
    Lot Size
    30,056 SF

    Building Details

    Year Built
    1991
    Buildings
    1
    Stories
    2

    HighLights

    • Downtown Memphis, TN location.
    • Exceptional redevelopment potential.
    • Strong demand for retail and/or residential conversion.
    Property Profile Location Intelligence

    Current Use by Public Records

    Somner Express Trucking Company

    Suggested Use

    Realty agency Law Firm Spa & Massage Dental Office Restaurant Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.06328118
    Latitude
    35.1282948

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    FAQs

    What type of property is this?
    Manufacturing property - Prime industrial space, high redevelopment potential.
    Where is this manufacturing property located?
    The property is located at 65 Carolina Ave Memphis, TN.
    What is the asking price?
    The asking price for this property is $2,490,000.
    What are key features of this property?
    This property features: Downtown Memphis, TN location.; Exceptional redevelopment potential.; Strong demand for retail and/or residential conversion.
    Request Owner's contact information
    65 Carolina Ave Memphis, TN 38103
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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
    65 Carolina Ave Memphis, TN 38103
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