1.65-AC Student Housing Development Site
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1.65-AC Student Housing Development Site
7 Land Properties Offered at $1,995,000 in Memphis, TN
INVESTMENT HIGHLIGHTS
- Fully assembled and approved for 237 Beds in rare Infill Site within the University Overlay Zoning District
- Supply-constrained Student Housing Market - Latest delivery (2021) posts $3.13psf/unit
- Full Set of Architectural Plans/MEP/Studies offered as Part of the Sale
- Campus adjacent across from University of Memphis
- State-of-the-art Amenities Package designed by prominent LRK Architects
- Ample Secured Parking with Gated Access
EXECUTIVE SUMMARY
Campus Adjacent to the University of Memphis
1.65 Acre Student Housing Development Site
587-619 Houston Street, Memphis, TN 38111
$1,995,000
$33 Per Square Foot
HIGHLIGHTS
1.65-acre Student Housing Development Site
7-Parcel Assemblage - Fully Entitled for 237 Student Beds/108 Units
Prime Pedestrian-To-Campus Infill Opportunity within University District Overlay
PROPOSED DEVELOPMENT DETAILS
Initially entitled for 194 Beds, a recent variance now approves 237 Beds [108 Units]
UNIT MIX
49 1-Bedrooms (45%), 20 2-Bedroom (19%), 9 3-Bedroom (8%), 30 4-Bedrooms (28%)
AMENITIES
Proposed Amenities Package includes Leasing Office, Club Room, Fitness, Study Hall, Courtyard/Greenspace, Pool, Outdoor Fitness, Roof Deck Terrace
PARKING
Coded-access Spaces On-Site (90), On-Street (9) plus across street U of M Parking Garage
PLANS
All Studies/Civil/MEP/Architectural Plans are 100% complete for the initial 194 Bed Count.
Utilities Drawn to Site
1.65 Acre Student Housing Development Site
587-619 Houston Street, Memphis, TN 38111
$1,995,000
$33 Per Square Foot
HIGHLIGHTS
1.65-acre Student Housing Development Site
7-Parcel Assemblage - Fully Entitled for 237 Student Beds/108 Units
Prime Pedestrian-To-Campus Infill Opportunity within University District Overlay
PROPOSED DEVELOPMENT DETAILS
Initially entitled for 194 Beds, a recent variance now approves 237 Beds [108 Units]
UNIT MIX
49 1-Bedrooms (45%), 20 2-Bedroom (19%), 9 3-Bedroom (8%), 30 4-Bedrooms (28%)
AMENITIES
Proposed Amenities Package includes Leasing Office, Club Room, Fitness, Study Hall, Courtyard/Greenspace, Pool, Outdoor Fitness, Roof Deck Terrace
PARKING
Coded-access Spaces On-Site (90), On-Street (9) plus across street U of M Parking Garage
PLANS
All Studies/Civil/MEP/Architectural Plans are 100% complete for the initial 194 Bed Count.
Utilities Drawn to Site
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $1,995,000 | Number of Properties | 7 |
| Sale Type | Investment or Owner User | Individually For Sale | 0 |
| Status | Active | Total Land Area | 1.65 AC |
| Price | $1,995,000 |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 7 |
| Individually For Sale | 0 |
| Total Land Area | 1.65 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | INDIVIDUAL PRICE |
|---|---|---|---|
| 609 Houston St, Memphis, TN 38111 | Land | 0.22 AC | - |
| 615 Houston St, Memphis, TN 38111 | Land | 0.23 AC | - |
| 619 Houston St, Memphis, TN 38111 | Land | 0.22 AC | - |
| 587 Houston St, Memphis, TN 38111 | Land | 0.26 AC | - |
| 605 Houston St, Memphis, TN 38111 | Land | 0.22 AC | - |
| 599 Houston St, Memphis, TN 38111 | Land | 0.22 AC | - |
| 595 Houston St, Memphis, TN 38111 | Land | 0.28 AC | - |
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1.65-AC Student Housing Development Site
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