2472 Southern Ave - Self-Storage Facilities FOR SALE


Memphis, TN 38111
$4,845,000 USD
530-228-1940
2472 Southern Ave, Memphis, TN for Sale
$4,845,000 USD
Self-Storage Facilities - FOR SALE
1/6
null | 6.5% Cap Rate

2472 Southern Ave
Memphis, TN 38111


HIGHLIGHTS

  • LOCATION! LOCATION!! LOCATION!!! Borders Liberty Bowl, Kroc Center, Tiger Lane, new 227k sqft sports complex & much more!!!
  • Surrounded by Liberty Park in which half a Billion dollars currently being spent on new development! (See Brochure.)
  • Significant room to Increase Occupancy & Income Immediately!!! (Brochure contains past 3 years financials and Occupancy)

OVERVIEW

Don’t miss this rare opportunity to acquire a premium real estate income producing property bordering the newly revitalized Liberty Park in Memphis!!! This prime property is uniquely positioned to benefit from the ½ Billion Dollars in construction/improvements that are currently underway at Liberty Park, making it a highly desirable location for investors, developers, and visionaries. Ideally situated for increased demand and high visibility. Also bordering the Liberty Bowl, Kroc Center, Tiger Lane, 227,000 sqft Memphis Sports Complex, the Children’s Museum, an 18-acre private development featuring 400 apartments, 90,000 sqft of family entertainment venues, 100,000 sqft of commercial office space, 100,000 sqft of retail and dining, along with two high end hotels with a professional soccer stadium is in the works. The Fairgrounds Self-Storage Facility currently contains 34,132 Sqft of net rentable area with 302 units located on a 1.72+ acre site at 2472 Southern Ave in Memphis, Tennessee. Owner has recently spent $300,000+/- on renovations and expansion. The facility features 100% non-climate-controlled units. There are 10 uncovered RV spaces. What makes this property so special is its location, since it is almost completely surrounded by a massive development (Liberty Park) from the City and State as well as some partnership with high-end private developers. Currently they are spending close to ½ Billion Dollars in sports arenas, hotels, apartment complexes, football stadium renovation, and the list goes on. See supporting documentation for further details. Great income with plenty of upside to increase occupancy for a much higher return on investment.

FOR SALE DETAILS

PRICE

$4,845,000 USD

PRICE/SF

$132 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Fairgrounds Storage

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1963

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

2.61 AC

LAND SF

113,692 SF

ZONING

IL

APN/PARCEL ID

02-9069-0-0010

ASK ABOUT THIS PROPERTY

Kory HammanHamman Real EstateMore Info
530-228-1940

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Kory HammanHamman Real EstateMore Info
530-228-1940

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.