147 Jefferson - Highrise Redevelopment Opportunity
Memphis TN 38103
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The Offering
147 Jefferson - Highrise Redevelopment Opportunity
CONSIDERING ALL OFFERS!
EXCELLENT ADAPTIVE REUSE OPPORTUNITY
Located in Downtown Memphis, the Strongest Office Campus in the Region
147 Jefferson Avenue, Memphis, TN
Vacant 12-story Office Tower
101,600 SF
Built 1954
Suitable for Mixed-Use,
Multifamily or Hospitality Conversion
Asking Price: $4,100,000 or $40 PSF
INVESTMENT HIGHLIGHTS
PRIME LOCATION IN DOWNTOWN MEMPHIS
The economic engine for the Greater Memphis MSA with a daytime population of 72,500+ and the highest density of jobs per acre regionally
Ongoing demand fueled by Downtown's demographics and vibrant cultural and recreational offerings
EXCELLENT ACCESS AND VISIBILITY
Frontage on Jefferson Avenue between BB King Boulevard and Second Street, prominent arteries through the Downtown business district
PRIME FOR ADAPTIVE REUSE
Architectural design ideally suited for a conversion into mixed-use, multifamily or hospitality uses
Downtown's ongoing urbanization fueled by increased employment, infrastructure investments, and new cultural and recreational offerings has lead to rising demand for rental housing and hospitality establishments
ELIGIBILITY FOR PILOT TAX ABATEMENT
Eligible for a Payment-In-Lieu-of-Tax abatement program freezing taxes at the pre-development level for up to 10 years
PARTIAL SELLER FINANCING FOR ACQUISITION AND CONSTRUCTION
Available for qualified buyers with a solid track record
NEARBY PARKING OPTION
Structural parking with ample spaces can be arranged in close proximity via parking agreement
DMC APPROVAL NEEDED FOR CLOSING
Current remediation efforts are underway to address a pending environmental court citation
5865 Ridgeway Center Pkwy Ste 300, Memphis, TN 38120
Phone 901-767-1998
TN Company License #256220
MS Company License #C-21186
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