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    690 Mississippi Blvd Memphis, TN 38126

    For Sale
    $5,300,000

    17 Acres, Mixed-Use Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 17-acre parcel in Memphis, Tennessee, presents a unique urban redevelopment opportunity. Located at 690 Mississippi Blvd, zip code 38126, in Shelby County, this property is zoned Residential Urban 3 (RU-3), allowing for a mix of commercial and residential development. The asking price is $5,300,000, translating to $700 per acre. The site is strategically positioned within an area targeted for significant revitalization by the City of Memphis, as detailed in the South City Plan. This plan outlines substantial investment in infrastructure and economic incentives to support redevelopment efforts, creating a "Small City" atmosphere. This presents a compelling opportunity for developers to leverage city support and incentives to realize a high-impact project. The sale includes a leaseback option. This rare large urban parcel is an anchor to the city's redevelopment vision, offering substantial potential for a developer seeking a high-profile project with significant backing from the municipality. The property's prime location and the city's commitment to revitalization make this a truly exceptional investment opportunity.

    Property Features for 690 Mississippi Blvd

    General Information

    Property type
    Land

    HighLights

    • Strong city support and economic incentives available for developers.
    • Prime location in a rapidly growing area with high demand for commercial space.
    • Exceptional visibility and accessibility from major thoroughfares, ensuring high traffic counts.
    • Flexible zoning allows for a variety of development options, maximizing ROI.
    • The property offers significant upside potential due to its strategic location and market conditions.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.041349583219
    Latitude
    35.127170147399

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    FAQs

    What type of property is this?
    Land - 17 Acres, Mixed-Use Potential
    Where is this land located?
    The property is located at 690 Mississippi Blvd Memphis, TN.
    What is the asking price?
    The asking price for this property is $5,300,000.
    What are key features of this property?
    This property features: Strong city support and economic incentives available for developers.; Prime location in a rapidly growing area with high demand for commercial space.; Exceptional visibility and accessibility from major thoroughfares, ensuring high traffic counts.
    Request Owner's contact information
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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
    690 Mississippi Blvd Memphis, TN 38126
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