CONSIDERING ALL OFFERS – 147 Jefferson Highrise

Property Description

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 Tower101,600 SFBuilt 1954Suitable for Mixed-Use,Multifamily or Hospitality Conversion Asking Price: $4,100,000 or $40 PSF 
INVESTMENT HIGHLIGHTSPRIME LOCATION IN DOWNTOWN MEMPHISThe 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 VISIBILITYFrontage on Jefferson Avenue between BB King Boulevard and Second Street, prominent arteries through the Downtown business district PRIME FOR ADAPTIVE REUSEArchitectural design ideally suited for a conversion into mixed-use, multifamily or hospitality usesDowntown'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 ABATEMENTEligible 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 CONSTRUCTIONAvailable for qualified buyers with a solid track record NEARBY PARKING OPTIONStructural parking with ample spaces can be arranged in close proximity via parking agreement  DMC APPROVAL NEEDED FOR CLOSINGCurrent remediation efforts are underway to address a pending environmental court citation