806 Walnut St, Memphis TN 38126
Large commercial lot in an prime location, 2 miles from Downtown Memphis.
Lots of potential -
Easy access to major road networks and next to railroad with tracks to access to the rail for ease of shipping.
Lot ideal for building a new modern Industrial/ manufacturing or distribution warehouse in an accessible location.
2.77 acres with a huge metal storage shed
A 43,000 sq ft brick building was built there but burned down.
Property has great potential for building a modern warehouse to suit the user's needs in a great accessible location just 2 miles from Downtown Memphis.
Lot suitable for a variety of uses to include: manufacturing, distribution, retail, storage, offices, wholesale, warehouse with store fronts, service center, maintenance and auto services.
Easy Shipping
The property backs up to very active railroad and there is an access track that enters the property for a couple train cars.
Great location
The site is in a prime location situated just 2 miles away from Downtown Memphis. The area is currently seeing several development and restoration projects. The site is about 4 blocks away from a major thoroughfare, leading to the I-55 bridge crossing the river into Arkansas. Road access is easy, because the routes in and out are a complete loop.
There may also be some government tax incentives .
This is a unique opportunity for the savvy business owner, developer or investor to own 2.77 acres in a prime location just 2 miles away from Downtown Memphis at a great price.
Great investment opportunity:
Comparables
Address Distance to the property Lot type Area(Acres) Asking Price
440 Vance Ave, Memphis, TN 38126 1.2 miles Commercial 1.19 $150,000
710 South Fourth Street, Memphis, TN 38126 1.5 miles Industrial 2.50 $179,000
509 S. Third Street, Memphis, TN 38103 2.0 miles Commercial 2.15 $1,000,000
270 E. GE Patterson, Memphis, TN 38103 1.6 miles Commercial 1.70 $500,000
Shelby County. Parcel ID#: 03201200000220 and 03201200000090
PROPERTY IS SOLD AS IS, WHERE IS-
Sold on a Quit Claim Deed with buyer assuming back taxes of about $57k payable by installments over a period of 24 months .
Winning bidder must contact the seller within 24 Hours after the close of the auction with full details of the buyer.
Buyer will also be responsible for $500 deed prep and doc fee as well as 8 % premium.
10% non-refundable deposit, auction premium (Minimum $250) and $500 deed preparation and doc fee are due within 48 hours of auction close.
Final Payment to be made within 2 weeks of the Auction close.
All bidders to do their due diligence. Sold on a Quit Claim Deed with buyer assuming real estate taxes, liens and encumbrances (if any). Buyer is responsible for checking the amount of the taxes and tax redemptions. No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding these assets. All buyers are deemed to have relied entirely on their own information, judgments and inspections of the property in making the decision to purchase the property. The sale of this property is subject to the Purchase Agreement which is attached under "Additional Details".
