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    Shelby Dr Memphis, TN 38118

    Sponsored
    For Sale
    $199,000

    3.95 Acres, RU-3 Zoning, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 3.95-acre parcel of land presents a remarkable opportunity for residential development in Memphis, Tennessee. Located at 0 Shelby Drive, this property boasts a highly desirable RU-3 zoning designation, ideal for apartment construction. The expansive lot measures 315 feet along Shelby Drive and extends 547 feet in depth, providing ample space for a substantial project. Its strategic location offers convenient access to key transportation arteries, including proximity to Memphis International Airport and approximately 1.5 miles east of the I-55 Shelby Drive exit. The property is situated in Shelby County, Tennessee, with a zip code of 38118. This prime location offers developers significant advantages, including proximity to established infrastructure and a growing residential market. The asking price for this exceptional development opportunity is $199,000. Given the zoning and location, this land presents a compelling investment prospect for those seeking to capitalize on the Memphis real estate market's potential. The property's size and zoning make it suitable for a variety of multi-family residential projects. Serious inquiries are encouraged to explore the possibilities of this unique offering.

    Property Features for 0 Shelby Dr

    General Information

    Property type
    Land
    Lot Size
    172,062 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9294948
    Latitude
    35.0205274

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    FAQs

    What type of property is this?
    Land - 3.95 Acres, RU-3 Zoning, Prime Location
    Where is this land located?
    The property is located at Shelby Dr Memphis, TN.
    What is the asking price?
    The asking price for this property is $199,000.
    (731) 549-5604
    Request Owner's contact information
    Shelby Dr Memphis, TN 38118
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    Memphis, TN 38118
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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
    Shelby Dr Memphis, TN 38118
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