8961 Tn-3 Millington, TN 38053
- Land
Current Use by Public Records
- Land
Property Details for 8961 Tn-3
- Property type
- Land
Description
This exceptional 20-acre commercial and residential land parcel presents a significant development opportunity in Millington, Tennessee. Strategically located on the west side of US Highway 51, this property enjoys high visibility and convenient access. Across the highway sits a Hampton Inn and Homer Skelton Ford dealership, underscoring the area's strong commercial presence. The site is situated just north of the thriving Forked River Commons retail center, home to national retailers such as TJ Maxx, Hobby Lobby, Aldi's, Dollar Tree, Mattress Firm, LongHorn Steakhouse, and Chicken Salad Chick. This prime location benefits from Millington's ongoing commercial and residential growth, fueled by nearby major developments. The property's designation as an Opportunity Zone offers substantial tax advantages for investors. Sewer access is available from the east side of Highway 51. The site is divisible, with pricing adjusted based on parcel size and location within the 20-acre tract. The land value ranges from $87,120 to $130,680 per acre. This property is ideally suited for a variety of commercial and residential projects, capitalizing on Millington's growth trajectory and the proximity to Ford's Blue Oval City (30 miles north) and Elon Musk's SuperComputer facility in Memphis. The asking price for the entire 20-acre parcel is $1,785,090.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Millington
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.8824
- Latitude
- 35.3706
