255 Vance Ave Memphis, TN 38126

Property Details for 255 Vance Ave

Year built

1961

Lot size

0.46 lot acres

Property size

3,030 SF

Zone code

SDR

Property type

Auto shops

APN

005-022- - -00002

APU

502200002

Description

This exceptional 0.455-acre commercial and residential land parcel presents a unique investment opportunity in Memphis, Tennessee's burgeoning South City/South Forum area, within the Central Business Improvement District (CBID). The property boasts high visibility along Vance Avenue, a major east-west corridor. Its strategic location places it within easy walking distance of FedEx Forum, home to the Memphis Grizzlies and University of Memphis Tigers, as well as Beale Street's vibrant entertainment district. Nearby amenities include numerous hotels, such as the Central Station Hotel, Arrive Hotel, Westin Beale Street, and the Hyatt Centric Beale Street. The area is experiencing significant revitalization, with recent multi-million dollar investments in surrounding properties, including FedEx Logistics' new corporate headquarters and the new Wiseacre Brewery and taproom. This site is part of a Qualified Opportunity Zone and New Markets Tax Credit Census Tract, offering potential tax advantages. The property's proximity to the Butler Row development and other multi-family projects underscores its potential for substantial growth. Furthermore, the availability of additional, separately-owned parcels nearby allows for the possibility of larger-scale site assemblage. This presents a rare chance to capitalize on the continued expansion and development of this dynamic section of Downtown Memphis. Don't miss this chance to be part of the exciting transformation of South City.

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Longitude

-90.0534

Latitude

35.1351

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments