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    4085 Thomas St Memphis, TN 38127

    Sponsored
    For Lease
    Contact for pricing

    Highway 51 Corner Lot, Ground Lease Available

    Lot size:
    69,696 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 1.6-acre commercial land parcel presents a unique investment opportunity in the thriving North Memphis submarket. Strategically located on Highway 51 at the busy intersection of North Watkins Street, this property offers unparalleled visibility and accessibility. The lot is a secure corner parcel within a larger mini-storage facility, providing an added layer of security and the option of supplemental indoor storage if needed. Zoned CMU-III, the property is suitable for a wide range of commercial uses, including outdoor storage, landscaping or construction equipment yards, parking lots, or new commercial development. The versatility of this site is further enhanced by its adaptability; it can be fenced, subdivided, and secured to meet specific tenant requirements. Ground preparation options include paving, graveling, or a combination of both to accommodate diverse needs. The property boasts a private gated entrance and is well-lit for enhanced security. This prime location, coupled with its flexible zoning and adaptable features, makes this 1.6-acre parcel an ideal investment for discerning buyers seeking a high-impact commercial property in a rapidly growing area. Don't miss this chance to acquire a highly visible and versatile commercial land parcel in a prime North Memphis location.

    Property Features for 4085 Thomas St

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    69,696 SF

    Unit(s) available at that property

    Space
    Size
    69,696 SF

    HighLights

    • 1.6‑acre commercial land parcel available for ground lease in North Memphis.
    • High‑visibility location on Highway 51 at the intersection of North Watkins Street.
    • Secure corner lot within a larger mini‑storage facility with additional storage units available.
    • CMU‑III zoning allows for various uses, including outdoor storage, equipment yards, parking, and commercial development.
    • Flexible site improvements: fencing, subdivision, paving, and gravel options available to suit tenant needs.
    • Property features a private gated entrance and nighttime lighting.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Nail Salon 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
    -90.013707054944
    Latitude
    35.236768280524

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    FAQs

    What type of property is this?
    Land - Highway 51 Corner Lot, Ground Lease Available
    Where is this land located?
    The property is located at 4085 Thomas St Memphis, TN.
    What are key features of this property?
    This property features: 1.6-acre commercial land parcel available for ground lease in North Memphis.; High-visibility location on Highway 51 at the intersection of North Watkins Street.; Secure corner lot within a larger mini-storage facility with additional storage units available.
    Request Owner's contact information
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    Memphis, TN 38127
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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
    4085 Thomas St Memphis, TN 38127
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