806 Walnut St, Memphis TN 38126
Large commercial lot in an prime location, 2 miles from Downtown Memphis.
Lots of potential. Rare opportunity.
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 a very accessible location.
1.79 acres of prime commercial land.
The site needs clearing and cleaning up from old debris.
Property has great potential for building a modern warehouse to suit the user's needs in a great accessible location.
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 1.79 acres in a prime location just 2 miles away from Downtown Memphis at a great price.
Great investment opportunity:
Comparables
Address Lot type Area(Acres) Asking Price
2347 Summer Ave, Memphis, TN 38112 Commercial 0.39 $399,000
2116 Harbert Ave, Memphis, TN 38104 Commercial 0.58 $795,000
0 Kentucky St , Memphis, TN 38106 Commercial 0.71 $300,000
3544 Park Ave, Memphis, TN 38111 Commercial 0.76 $679,000
705 S Main St, Memphis, TN 38103 Commercial 0.76 $575,000
2120 Central Ave, Memphis, TN 38111 Commercial 0.34 $350,000
1313 Poplar Ave, Memphis, TN 38104 Commercial 0.66 $375,000
Shelby County. Parcel ID#: 03201200000220
Property sold on a Quit Claim Deed with buyer assuming back taxes of about $28,738.06 for county and $89,714.33 city which can be paid by installments to be agreed with the county. A 24 months installment agreement may be possible subject to county approval.
PROPERTY IS SOLD AS IS, WHERE IS-
Sold on a Quit Claim deed with buyer assuming taxes, liens and encumbrances
Buyer is responsible for $500 document and closing fee and 8 % auction premium (minimum $250).
10% non-refundable deposit (minimum $1,000) and the $500 fee are due and payable within 48 hours of the auction close.
Final Payment of the balance of the purchase price and the auction premium are to be made within 7 calendar days of the Auction close.
Sold on a Quit Claim deed with buyer assuming taxes, liens and encumbrances so please do your due diligence BEFORE you bid. Escrow and deed preparation and recording to be handled by Standard Title Agency & RDS Group, LLC, who will be emailing buyer within 24 hours of auction's close. Buyer must fund escrow for balances due as above or else may be declared in default.
No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding these assets. The Buyer is responsible to checking exact amounts due on the proeprty direct with the relevant departments. The Buyer is responsible for tax redemption. Buyers are bound by the Purchase Agreement if attached under the Due Diligence section. 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.
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