3993 Elvis Presley Blvd Memphis, TN 38116-5826

Property Details for 3993 Elvis Presley Blvd

Year built

1938

Lot size

4.10 lot acres

Property size

1,012 SF

Zone code

CMU-3

Property type

Auto shops

APN

077-027- - -00013

APU

7702700013

Description

This exceptional 21.62-acre property at 3993 Elvis Presley Blvd in Memphis, Tennessee, presents a rare redevelopment opportunity. Currently generating approximately $135,000 in annual income from three long-term tenants and a billboard, this mixed-use site offers immediate cash flow while development plans are underway. The property includes an established RV park with on-site management ready for a seamless transition to new ownership, although the current owners do not plan to continue its operation. The site's zoning (CMU-2) allows for diverse development options, including multi-family, single-family residences, and commercial spaces. The property boasts 884 feet of frontage on Elvis Presley Boulevard, a key location within the revitalized Whitehaven area, which has seen significant growth in recent years with the addition of national retailers such as Starbucks, AutoZone Megahub, Cookout, and Guthrie's. The city of Memphis is actively improving the drainage system adjacent to the property. The asking price is $6,500,000, with a current NOI of $125,000. The land value is $6.90 per square foot. This is a unique chance to acquire a substantial income-producing asset with significant redevelopment potential in a thriving Memphis neighborhood. The property consists of an apartment building, a QSR/fast food space, and an RV park with four pads. The total square footage ranges from 3,000 to 50,000. The property is being sold as a whole