80880 Un School Park Memphis, MI 48041
Residential Zoning Districts R1B HM RM R1A Central Business District, the community’s core downtown area. The City also has a number of commercial uses integrated along M-19, south of the central business district, and along Bordman Road. Industrial Industrial land uses comprise 2% (16 acres) of all land in Memphis. These industrial uses are concentrated in…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
RM · Memphis, MIResidential Zoning Districts R1B HM RM R1A Central Business District, the community’s core downtown area. The City also has a number of commercial uses integrated along M-19, south of the central business district, and along Bordman Road. Industrial Industrial land uses comprise 2% (16 acres) of all land in Memphis. These industrial uses are concentrated in a series of nodes located on the outskirts of the central business district and on the northern border of the City along M-19. Institutional, Public, Quasi-Public, and Organization This land use category includes governmental facilities, religious institutions, cemeteries, libraries, fraternal organizations and land used for educational purposes. The uses in this classification provide essential governmental and community services. Institutional, public, quasi-public and organizational uses encompass 25% (193 acres) of total land in the City of Memphis. Vacant Approximately 8% (60 acres) of land in the Memphis is vacant. This category includes all taxable residential and commercial properties recorded as vacant by the City of Memphis Assessor. Additional undeveloped property exists within the City but is not included in this total because it has been assigned to different categories. With an abundance of vacant land available the City of Memphis has a distinct opportunity for redevelopment and new investment initiatives. The City can take an active role in exploring any and all opportunities associated with these vacant properties, and encourage stable and sustainable growth within Memphis. Land Use and Zoning 18 MAIN BORDMAN SABIN POTTER ROBERT PRATT CEDAR MECHANIC BELLE RIVER ALLEY LOIS MAPLE BENTON UNION HENDERSON DURFEE MEM PHIS RIDGE MEM PHIS RIDGE ELINOR CHURCH POTTER COLE MILL COMMERCIAL & INDUSTRIAL ZONING - CITY OF MEMPHIS Rev 10/2012 Aerial Photography - Spring 2010 Legend CBD C-1 I1 Overview of Land Use in Memphis The distribution and density of land uses within the City of Memphis can be characterized as small town/village style. This type of land use distribution and density is characterized by a mixture of land uses intertwined throughout the community. The epicenter of the City of Memphis is the downtown area, which acts as the focal point of the community. The intersection of Main Street (M-19) and Bordman Road is the hub of activity for this downtown district, which is anchored by a mixture of commercial and residential uses. The downtown area is then flanked by a diverse spectrum of residential uses which are situated along an interconnected network of local roads.
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.