U of M Infill Opportunity

Multi-Family for Sale
Catylist Listing ID: 30025587
Property Subtypes: Low-Rise/Garden, Student Housing
Number of Units: 2 Units
Building Size (RSF): 3,559 SF
Gross Building Area: See Agent
Gross Land Area: 0.51 Acres
Sale Price: $808,585
Unit Price: $404,292.50 Per Unit
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/13/2017

Overview / Comments

CRYE-LEIKE COMMERCIAL is pleased to present this unique infill opportunity in the University of Memphis overlay district. The offering includes two adjoining parcels, each approximately 50 x 222 +/-. This is a prime opportunity for a compact, multi-story student housing redevelopment. This immediate area has seen a surge of student housing answering increased demands of U of M students looking for on-campus options. This offering includes 3555 Midland and 3561 Midland.

Additional Details

Nearest MSA: Memphis
County: Shelby
Tax ID/APN: 046005 00005 
Total Number of Buildings: 2
Property Condition: Average
Year Built: 1921

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,806 128,456 295,153
Median Age: 29.04 34.8 34.67
Households: 5,575 52,860 117,639
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