Current Use by Public Records
- Dormitories
Property Details for 3005 Old Taylor Rd
- Lot size
- 3.21 lot acres
- Property type
- Dormitories
- Property subtype
- Student housing
Description
This exceptional investment opportunity presents a fully approved multifamily development project in Oxford, Mississippi, ideally situated near the University of Mississippi campus. The 3.21-acre site includes approved plans for two three-story buildings, totaling 85 units and 125 beds. The design incorporates attractive architectural features and ample parking. This pad-ready site boasts existing utilities and a paved parking lot, significantly reducing development time and costs. The property's proximity to the university, Vaught Hemingway Stadium, Swazye Field, the Grove, and downtown Oxford ensures high occupancy rates and strong rental income. Market analysis reveals exceptional demand, with a 100% pre-leasing rate for 2024, exceeding previous years. Ole Miss's recent enrollment surge (16.9% in 2023) and Oxford's population growth (projected 25% increase by 2030) further solidify this investment's potential. The asking price of $3,500,000 includes the land, approved plans, and existing infrastructure. Final construction drawings are required for final approval and permitting. This is a rare chance to capitalize on the thriving Oxford real estate market and the consistently high demand for student housing. The property is zoned TNB and offers a unique opportunity for immediate development. The approved plans provide a significant head start, minimizing delays and maximizing returns. Don't miss this chance to be part of Oxford's dynamic growth.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Oxford
- County
- Lafayette
- State
- Mississippi
- Longitude
- -89.5461
- Latitude
- 34.3423
