2472 Southern Ave - Fairgrounds Storage
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2472 Southern Ave - Fairgrounds Storage
34,132 SF Specialty Building Offered at $4,845,000 at a 6.50% Cap Rate in Memphis, TN 38111
Investment Highlights
- LOCATION! LOCATION!! LOCATION!!! Borders Liberty Bowl, Kroc Center, Tiger Lane, new 227k sqft sports complex & much more!!!
- Significant room to Increase Occupancy & Income Immediately!!! (Brochure contains past 3 years financials and Occupancy)
- Surrounded by Liberty Park in which half a Billion dollars currently being spent on new development! (See Brochure.)
Executive Summary
Don’t miss this rare opportunity to acquire a premium real estate income producing property bordering the newly revitalized Liberty Park in Memphis!!! This prime property is uniquely positioned to benefit from the ½ Billion Dollars in construction/improvements that are currently underway at Liberty Park, making it a highly desirable location for investors, developers, and visionaries.
Ideally situated for increased demand and high visibility. Also bordering the Liberty Bowl, Kroc Center, Tiger Lane, 227,000 sqft Memphis Sports Complex, the Children’s Museum, an 18-acre private development featuring 400 apartments, 90,000 sqft of family entertainment venues, 100,000 sqft of commercial office space, 100,000 sqft of retail and dining, along with two high end hotels with a professional soccer stadium is in the works.
The Fairgrounds Self-Storage Facility currently contains 34,132 Sqft of net rentable area with 302 units located on a 1.72+ acre site at 2472 Southern Ave in Memphis, Tennessee. Owner has recently spent $300,000+/- on renovations and expansion. The facility features 100% non-climate-controlled units. There are 10 uncovered RV spaces.
What makes this property so special is its location, since it is almost completely surrounded by a massive development (Liberty Park) from the City and State as well as some partnership with high-end private developers. Currently they are spending close to ½ Billion Dollars in sports arenas, hotels, apartment complexes, football stadium renovation, and the list goes on. See supporting documentation for further details.
Great income with plenty of upside to increase occupancy for a much higher return on investment.
Ideally situated for increased demand and high visibility. Also bordering the Liberty Bowl, Kroc Center, Tiger Lane, 227,000 sqft Memphis Sports Complex, the Children’s Museum, an 18-acre private development featuring 400 apartments, 90,000 sqft of family entertainment venues, 100,000 sqft of commercial office space, 100,000 sqft of retail and dining, along with two high end hotels with a professional soccer stadium is in the works.
The Fairgrounds Self-Storage Facility currently contains 34,132 Sqft of net rentable area with 302 units located on a 1.72+ acre site at 2472 Southern Ave in Memphis, Tennessee. Owner has recently spent $300,000+/- on renovations and expansion. The facility features 100% non-climate-controlled units. There are 10 uncovered RV spaces.
What makes this property so special is its location, since it is almost completely surrounded by a massive development (Liberty Park) from the City and State as well as some partnership with high-end private developers. Currently they are spending close to ½ Billion Dollars in sports arenas, hotels, apartment complexes, football stadium renovation, and the list goes on. See supporting documentation for further details.
Great income with plenty of upside to increase occupancy for a much higher return on investment.
Property Facts
| Price | $4,845,000 | Lot Size | 2.61 AC |
| Price Per SF | $142 | Building Size | 34,132 SF |
| Sale Type | Investment or Owner User | No. Stories | 1 |
| Cap Rate | 6.50% | Year Built/Renovated | 1963/2024 |
| Property Type | Specialty | Parking Ratio | 0.29/1,000 SF |
| Property Subtype | Self-Storage | Opportunity Zone |
Yes
|
| Building Class | B |
| Price | $4,845,000 |
| Price Per SF | $142 |
| Sale Type | Investment or Owner User |
| Cap Rate | 6.50% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 2.61 AC |
| Building Size | 34,132 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1963/2024 |
| Parking Ratio | 0.29/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
- Bus Line
- Property Manager on Site
- Signage
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PROPERTY TAXES
| Parcel Number | 02-9069-0-0010 | Improvements Assessment | $413,800 |
| Land Assessment | $74,080 | Total Assessment | $487,880 |
PROPERTY TAXES
Parcel Number
02-9069-0-0010
Land Assessment
$74,080
Improvements Assessment
$413,800
Total Assessment
$487,880
zoning
| Zoning Code | IL (Surrounded by Liberty Park.) |
| IL (Surrounded by Liberty Park.) |
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2472 Southern Ave - Fairgrounds Storage
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