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    974 Mccauley Dr West Memphis, AR 72301

    Sponsored
    For Sale
    $1,250,000

    14.48 Acres Residential Land, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Exceptional investment opportunity in West Memphis, Arkansas, presents 14.48 acres of prime residential land zoned R-4. This property, encompassing two adjacent parcels (APN 363-416-000000, 363-417-000000), previously housed 180 residential units, now cleared and ready for development. Mayfair 1 comprises 9.65 acres, while Mayfair 2 offers 4.83 acres. The land is priced at $1,250,000, or $1.98 per square foot. Strategically located just 6.7 miles from Downtown Memphis, Tennessee, and one mile from the expanding Southland Casino, this site benefits from a robust job market fueled by major employers like Amazon, Baptist Memorial Hospital, and the casino itself. West Memphis's position at the "Crossroads of America," where Interstates 40 and 55 converge, ensures exceptional accessibility and high traffic volume. The city's unique location, boasting the only two major Mississippi River bridges between St. Louis and Vicksburg, Mississippi, further enhances its economic potential and attracts significant employment opportunities. This property offers substantial potential for a variety of residential developments, capitalizing on the area's growth and strategic location. The cleared lots provide a blank canvas for immediate construction, making this an attractive proposition for developers seeking a high-impact project in a thriving market.

    Property Features for 974 Mccauley Dr

    General Information

    Property type
    Land
    Lot Size
    630,749 SF

    HighLights

    • Two adjacent parcels totaling 14.48 acres, formerly occupied by Mayfair I & II Apartments (180 units).
    • Demolished, leaving only concrete slabs; Mayfair I: 9.65 acres; Mayfair II: 4.83 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    West Memphis
    County
    Crittenden
    State
    Arkansas
    Longitude
    -90.1720962
    Latitude
    35.1596793

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    FAQs

    What type of property is this?
    Land - 14.48 Acres Residential Land, Prime Location
    Where is this land located?
    The property is located at 974 Mccauley Dr West Memphis, AR.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: Two adjacent parcels totaling 14.48 acres, formerly occupied by Mayfair I & II Apartments (180 units).; Demolished, leaving only concrete slabs; Mayfair I: 9.65 acres; Mayfair II: 4.83 acres.;
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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
    974 Mccauley Dr West Memphis, AR 72301
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