Uncover the potential of this vast, untouched vacant land parcel situated within the direct vicinity of FedEx Forum, ensconced in an Opportunity Zone within Census Tract 114 - 47157011400. Boasting a strategic position and the title of the largest package of property currently available in this immediate neighborhood, this land lot represents a titanic opportunity for development.
Its unique location gives it a front-row seat to luxury condo living, with a highly successful recent development only a stone's throw away. This close neighbour featured 12 premium condominium units that were promptly snapped up, providing clear evidence of the potential and demand for luxury dwellings in this area. In fact, the re-sale of three such condos saw each reaching a value over half a million dollars!
Flaunting street frontage on both 4th Street and Pontotoc, the possibilities for this property are as boundless as your imagination. Make use of the open landscape that, save for a couple of trees, is flat, level, laundered, and practically begging for construction to commence.
The flexibility doesn't stop there: the property’s zoning is currently a fusion of Sports and Entertainment along with South Downtown Residential. This opens a panorama of prospective developments. Contemplate crafting a parking garage, fashioning a set of townhomes, erecting a block of luxury condos, or perhaps building an apartment complex – your vision can come to life here.
Adding to the appeal of this property package, the neighboring plot to the north has been recently snapped up by a hotel development group, intending to build multiple hotel sites, promising even more foot traffic and demand in this already popular area.
Every step you take from this property brings you closer to the heart of Memphis and its abundant attractions. Historic Beale Street, the FedEx Forum, the exquisite Orpheum Theater, and numerous other entertainment destinations make their home in this vibrant downtown district.
Don't miss this golden chance to be part of the economic and tourism epicenter of downtown Memphis. But remember, this is a find too special for agent solicitations. Turn the key, let your entrepreneurial spirit loose and watch as this property transforms your real estate dreams into reality.
