8556 Macon Rd Memphis, TN 38018
- Retail properties
- 6,429 SF
- 7.69 lot acres
Current Use by Public Records
- Retail properties
Property Details for 8556 Macon Rd
- Year built
- 1920
- Lot size
- 7.69 lot acres
- Property size
- 6,429 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity in Cordova, Tennessee, presents a unique blend of commercial and residential potential. The portfolio encompasses a total of 7.69 acres, including two existing buildings situated on Macon Road. One building, totaling 2,805 square feet, is currently vacant, offering immediate flexibility for various uses. The second building, spanning 3,624 square feet, houses a fully operational restaurant with a patio, currently leased to Stogies Cigar Bar & Lounge. The property boasts a combined 6,429 square feet of existing building space, with an asking price of $2,000,000. The land is zoned for commercial use, allowing for a diverse range of development options, including office, retail, multi-family, townhouses, and residential units above retail or office spaces. A portion of the land is also zoned for single-family residential use. An existing outline plan permits the construction of up to 200 multi-family units and 120,000 square feet of retail and office space. Built in 1920 and 1940, the property benefits from its convenient location within walking distance of the Shelby Farms Greenline, enhancing its appeal and accessibility. This presents a rare chance to acquire a substantial property with immediate income potential and significant long-term development possibilities in a thriving area of Shelby County. The property's location is 8534 and 8556 Macon Rd, Cordova, TN 38018.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.7662
- Latitude
- 35.1377
