Desoto County Multi-Use Development Site

Vacant Land for Sale
Catylist Listing ID: 30291454
Property Subtypes: Hospitality, Office, Retail, Retail-Pad, Self Storage, Other
Gross Land Area: 78.50 Acres
Sale Price: $2,870,000
Unit Price: $36,560 Per Acre
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 11/27/2018

Overview / Comments

CRYE-LEIKE COMMERCIAL is pleased to present this 78 acre multi-use development site bordered by Elmore Road to the east and Airways Blvd. to the west. Nail Road runs through the center of the site providing excellent traffic patterns and exposure for commercial uses. Approved uses include daycare centers, nursing facilities, recreational and amusement parks, office buildings, retail shopping centers, driving ranges, restaurants, self storage and many other neighborhood commercial uses. The owner is willing to divide as necessary to accommodate the needs of developers. Some site planning has been completed and available to demonstrate sample site configurations.

Situated immediately west of the subject property is a 500,000 square foot regional lifestyle center known as the Southaven Towne Center. This center features over 40 well known national tenants such as Dillard's, Gordman's, Bed Bath & Beyond, HH Gregg and much more. A host of other shopping and dining amenities can be found on Goodman Road (HWY 302) approximately 1/4 mile to the north. Goodman Road is a major east-west commercial corridor which sees over 40,000 vehicles per day.

This site is located within an Opportunity Zone, a new program established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities nationwide. The Opportunity Zones program provides significant tax incentives for investors to re-invest their unrealized capital gains into Opportunity Funds that are dedicated to investing into Opportunity Zones.

Even more, in April 2018 the Desoto County Times reported, "DeSoto County has consistently ranked high in most rankings as far as quality of life, health and education are concerned and now the state's fastest-growing county can add another feather in its cap. According to DeSoto County Administrator Vanessa Lynchard, DeSoto County ranks third in the state for one of the top "paycheck friendliest counties in the United States." Lynchard said the designation means that in addition to an overall high quality of life, residents of DeSoto County can get the best "bang for their buck" due to income, purchasing power and the county's relatively low unemployment rate."

This property is co-listed with Stephen Steinbach, Shelby South Management Realty, Inc. Please contact us today for more information.

Additional Details

Nearest MSA: Memphis
County: DeSoto
Property Located Between: Elmore Road and Airways Blvd.
Property Visibility: Excellent
Largest Nearby Street: Goodman Road
Highway Access: Goodman Road (HWY 302) and I-55
Part of Planned Development?: Yes
Development Name: Whitfield Planned Unit Development
In Flood Plain?: Yes
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,294 47,267 104,912
Median Age: 28.63 33.5 34.21
Households: 2,252 17,599 37,637
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