Annex Lofts | 345 S Front St
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Annex Lofts 345 S Front St
22 Unit Apartment Building $5,750,000 ($261,364/Unit) Memphis, TN 38103
Executive Summary
*Principals Only*
**SOLD TOGETHER WITH PRINTERS ALLEY 347 S FRONT ST ONLY**
The Printer’s Alley & Annex Lofts [51 Units]
[Sold Together]
$5,750,000 - $112,000/Unit
Estimated cost if built new today, $200,000 per unit.
AVAILABLE INDIVIDUALLY or as part of
The 3-Asset Class A- Multifamily Portfolio I 93 Units
Featured under “View Properties” Tab on Home Page and includes:
The Washburn Apartments [42 Units] $5,125,000 - $122,000/Unit
PORTFOLIO INVESTMENT HIGHLIGHTS
Attractive Basis - $88,000 per Unit Below Estimated Replacement Cost
No Heavy Lifting - Contemporary Loft Residences with Modern Urban Finishes in Well-maintained Condition. Competitively positioned in Market.
Untapped Potential via Operational Improvements, Amenity and Technology Upgrades aimed at Reducing Vacancy
Fantastic Workforce Location – Surrounded By Region’s Largest Employers
Unique Opportunity To Obtain Immediate Scale with 121 Units
Offered Free & Clear of Existing Debt
LOCATION HIGHLIGHTS
Lifestyle Location - Downtown Memphis convenience in a Live Work Play environment convenient to the city’s premier employment anchors.
Battery Belt and AI Tech Hub – Recent advanced manufacturing and high-tech AI projects within 45 minutes of Memphis have eclipsed $13 billion in investment, and are projected to add 9,000 direct jobs to the MSA. These capital investments involve corporate giants including Ford Motor, Musk Companies, Daimler Truck among others.
OFFERING PROCEDURE
Offers may be submitted along with Proof of Funds and a Resume at any point during the marketing process. A deadline for offers may be established at a later date.
**SOLD TOGETHER WITH PRINTERS ALLEY 347 S FRONT ST ONLY**
The Printer’s Alley & Annex Lofts [51 Units]
[Sold Together]
$5,750,000 - $112,000/Unit
Estimated cost if built new today, $200,000 per unit.
AVAILABLE INDIVIDUALLY or as part of
The 3-Asset Class A- Multifamily Portfolio I 93 Units
Featured under “View Properties” Tab on Home Page and includes:
The Washburn Apartments [42 Units] $5,125,000 - $122,000/Unit
PORTFOLIO INVESTMENT HIGHLIGHTS
Attractive Basis - $88,000 per Unit Below Estimated Replacement Cost
No Heavy Lifting - Contemporary Loft Residences with Modern Urban Finishes in Well-maintained Condition. Competitively positioned in Market.
Untapped Potential via Operational Improvements, Amenity and Technology Upgrades aimed at Reducing Vacancy
Fantastic Workforce Location – Surrounded By Region’s Largest Employers
Unique Opportunity To Obtain Immediate Scale with 121 Units
Offered Free & Clear of Existing Debt
LOCATION HIGHLIGHTS
Lifestyle Location - Downtown Memphis convenience in a Live Work Play environment convenient to the city’s premier employment anchors.
Battery Belt and AI Tech Hub – Recent advanced manufacturing and high-tech AI projects within 45 minutes of Memphis have eclipsed $13 billion in investment, and are projected to add 9,000 direct jobs to the MSA. These capital investments involve corporate giants including Ford Motor, Musk Companies, Daimler Truck among others.
OFFERING PROCEDURE
Offers may be submitted along with Proof of Funds and a Resume at any point during the marketing process. A deadline for offers may be established at a later date.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $5,750,000 | Apartment Style | Low Rise |
| Price Per Unit | $261,364 | Building Class | A |
| Sale Type | Investment | Building Size | 29,094 SF |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2015 |
| Property Subtype | Apartment |
| Price | $5,750,000 |
| Price Per Unit | $261,364 |
| Sale Type | Investment |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | A |
| Building Size | 29,094 SF |
| No. Stories | 2 |
| Year Built | 2015 |
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Hardwood Floors
- Stainless Steel Appliances
- Walk-In Closets
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 21 | - | 740 - 1,760 |
| 2+2 | 1 | - | 1,300 |
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Walk Score ®
Very Walkable (84)
Bike Score ®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | 00-2096-0-0002 | Improvements Assessment | $635,040 |
| Land Assessment | $90,200 | Total Assessment | $725,240 |
PROPERTY TAXES
Parcel Number
00-2096-0-0002
Land Assessment
$90,200
Improvements Assessment
$635,040
Total Assessment
$725,240
zoning
| Zoning Code | CS (Commercial Services Zoning) |
| CS (Commercial Services Zoning) |
-
Lea Heilig -
Woodyard Realty Corporation
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Annex Lofts | 345 S Front St
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