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    255 Vance Ave Memphis, TN 38126

    Sponsored
    For Sale
    Contact for pricing

    Prime .45 acre lot, South City opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.455-acre commercial and residential land parcel presents a unique investment opportunity in Memphis, Tennessee's burgeoning South City/South Forum area, within the Central Business Improvement District (CBID). The property boasts high visibility along Vance Avenue, a major east-west corridor. Its strategic location places it within easy walking distance of FedEx Forum, home to the Memphis Grizzlies and University of Memphis Tigers, as well as Beale Street's vibrant entertainment district. Nearby amenities include numerous hotels, such as the Central Station Hotel, Arrive Hotel, Westin Beale Street, and the Hyatt Centric Beale Street. The area is experiencing significant revitalization, with recent multi-million dollar investments in surrounding properties, including FedEx Logistics' new corporate headquarters and the new Wiseacre Brewery and taproom. This site is part of a Qualified Opportunity Zone and New Markets Tax Credit Census Tract, offering potential tax advantages. The property's proximity to the Butler Row development and other multi-family projects underscores its potential for substantial growth. Furthermore, the availability of additional, separately-owned parcels nearby allows for the possibility of larger-scale site assemblage. This presents a rare chance to capitalize on the continued expansion and development of this dynamic section of Downtown Memphis. Don't miss this chance to be part of the exciting transformation of South City.

    Property Features for 255 Vance Ave

    General Information

    Property type
    Land
    Lot Size
    19,820 SF

    HighLights

    • High‑visibility lot on Vance Avenue in the Central Business Improvement District (CBID).
    • Adjacent to the new 40,000 SF Wiseacre Brewery and Taproom.
    • 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

    Complete Custom Auto Auto Body Shop

    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
    -90.053271396737
    Latitude
    35.135550379408

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    FAQs

    What type of property is this?
    Land - Prime .45 acre lot, South City opportunity.
    Where is this land located?
    The property is located at 255 Vance Ave Memphis, TN.
    What are key features of this property?
    This property features: High-visibility lot on Vance Avenue in the Central Business Improvement District (CBID).; Adjacent to the new 40,000 SF Wiseacre Brewery and Taproom.; Opportunity for larger site acquisition with adjacent parcels available.
    (901) 249-9744
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    255 Vance Ave Memphis, TN 38126
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    Memphis, TN 38126
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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
    255 Vance Ave Memphis, TN 38126
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