65 Carolina AveMemphis, TN 38103

Property Details for 65 Carolina Ave

Year built

1999

Lot size

0.69 AC

Property size (Sq ft)

8,030 SF

Zone code

BR

Property type

Industrial properties

Property subtype

Other warehouses

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.

• Alternative Use

  Use

  Valuation

  Residential

  $1,324,315

  Hospitality

  $1,213,066

  Educational

  $1,009,256

  Medical

  $1,043,966

  Retail

  $1,569,954

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1279

Longitude

-90.0633

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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