345 Front St Memphis, TN 38103
- Apartment buildings
- 0.69 lot acres
Current Use by Public Records
- Annex Lofts / Apartment Complex
- Sleep Out Louies / Real Estate Consultant
Property Details for 345 Front St
- Year built
- 1940
- Lot size
- 0.69 lot acres
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents the Printers Alley & Annex Lofts, a 52-unit Class A multifamily property located in the heart of Downtown Memphis, Tennessee. Situated on a 0.688-acre lot at 345 and 347 South Front Street, this property comprises two buildings, originally constructed in 1940 and extensively renovated in 2015. The current asking price is $5,750,000, translating to approximately $110,577 per unit. This represents a compelling value proposition, significantly below estimated replacement costs. The property benefits from its prime location within a vibrant, live-work-play environment, proximate to major employers and benefiting from recent substantial investments in advanced manufacturing and AI technology within the greater Memphis area. The units feature contemporary loft residences with modern urban finishes, presenting a well-maintained and attractive living space. Significant upside potential exists through operational improvements, amenity enhancements, and technology upgrades aimed at minimizing vacancy rates. This offering presents a unique chance to acquire immediate scale in a thriving market, with the property offered free and clear of existing debt. The property is available for purchase as a whole. Interested parties should be prepared to submit offers with proof of funds and a resume. A deadline for offers may be set at a later date.
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
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -90.059
- Latitude
- 35.1377
