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    263 Vance Ave Memphis, TN 38126

    Sponsored
    For Sale
    Contact for pricing

    Prime South City location, high-growth potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 0.2-acre mixed-use lot at 263 Vance Avenue in Memphis, Tennessee (zip code 38126) presents a remarkable investment opportunity in the burgeoning South City/South Forum area of Downtown Memphis' Central Business Improvement District (CBID). The property boasts high visibility along the Vance Avenue corridor, a key east-west artery within the CBID. Its strategic location places it within easy walking distance of major attractions, including the FedEx Forum, home to the Memphis Grizzlies and University of Memphis Tigers, as well as Beale Street's vibrant entertainment scene. Nearby, the recently opened Central Station Hotel, Arrive Hotel, Westin Beale Street, and Hyatt Centric Beale Street offer ample hotel accommodations. This area is experiencing significant revitalization, evidenced by recent multi-million dollar investments in surrounding properties, including FedEx Logistics' new corporate headquarters and the new 40,000 square foot Wiseacre Brewery and Taproom. The property's proximity to these developments, coupled with the availability of additional nearby parcels for potential assemblage, makes it an ideal site for a variety of uses. Furthermore, its location within a Qualified Opportunity Zone and New Markets Tax Credit Census Tract offers significant tax advantages. Don't miss this chance to capitalize on the explosive growth in this dynamic section of Downtown Memphis.

    Property Features for 263 Vance Ave

    General Information

    Property type
    Mixed-use properties
    Lot Size
    8,712 SF

    HighLights

    • High‑visibility lot on Vance Avenue in the Central Business District (CBD).
    • Adjacent to the new 40,000 SF Wiseacre Brewery.
    • Opportunity for larger site acquisition with adjacent parcels available.
    • Prime location near FedEx Forum, Beale Street, and the South Main Arts District.
    • Situated in a Qualified Opportunity Zone and New Markets Tax Credit Census Tract.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop 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
    -90.053065351259
    Latitude
    35.135531081749

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    FAQs

    What type of property is this?
    Mixed-use property - Prime South City location, high-growth potential.
    Where is this mixed-use property located?
    The property is located at 263 Vance Ave Memphis, TN.
    What are key features of this property?
    This property features: High-visibility lot on Vance Avenue in the Central Business District (CBD).; Adjacent to the new 40,000 SF Wiseacre Brewery.; Opportunity for larger site acquisition with adjacent parcels available.
    (901) 249-9744
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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
    263 Vance Ave Memphis, TN 38126
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