65 Carolina Ave Memphis, TN 38103
- Warehouses
- 8,030 SF
- 0.69 lot acres
Current Use by Public Records
- Somner Express / Trucking Company / Transportation Service
Property Details for 65 Carolina Ave
- Year built
- 1999
- Lot size
- 0.69 lot acres
- Property size
- 8,030 SF
- Zone code
- BR
- Property type
- Warehouses
- Property subtype
- Self storage facilities
- APN
- 012-051- - -00016
- APU
- 1205100016
Description
This exceptional Class A industrial property, located at 65 W Carolina Ave in Memphis, TN (zip code 38103), presents a compelling redevelopment opportunity. The 5,280 square foot warehouse, built in 1991, sits on a 0.69-acre lot and is currently utilized as a freight distribution and trucking facility. The property features a single-tenant occupancy with a NNN lease type. The asking price is $2,490,000, translating to a price per square foot of $509.47. The two-story building is part of the revitalized South End area of downtown Memphis, an area experiencing significant transformation. Most former industrial sites in the immediate vicinity have been successfully redeveloped into residential apartments, condominiums, and retail spaces, indicating strong market demand for alternative uses. This presents a unique chance to capitalize on the high demand for retail or residential properties in this thriving urban location. The property's size and location make it ideal for a variety of redevelopment projects, offering significant potential for substantial returns. This is a rare opportunity to acquire a prime piece of real estate in a rapidly evolving downtown Memphis neighborhood.
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
- -90.0633
- Latitude
- 35.1279
- CBSA code
- 32820
- CBSA name
- MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA
