2320 Frayser BlvdMemphis, TN 38127

Property Details for 2320 Frayser Blvd

Year built

1950

Construction

FRAME

Lot size

0.81 AC

Property size (Sq ft)

1,310 SF

Zone code

R-10

Property type

Retail space

APN

072-079- - -00027

APU

7207900027

Description

This exceptional investment opportunity presents two adjacent corner lots ideally situated at the intersection of Frayser Boulevard and Ardmore in Memphis, Tennessee, zip code 38127. The properties, totaling 1.14 acres, are offered as a package deal for $450,000, or individually. Lot 2320 Frayser Boulevard encompasses 0.81 acres and is priced at $250,000, while Lot 2330 Frayser Boulevard comprises 0.33 acres and is listed at $200,000. Both parcels are zoned CMU-1, making them perfectly suited for quick-service restaurant (QSR) redevelopment. This prime location boasts impressive daily traffic counts of 15,323 vehicles, ensuring high visibility and accessibility for any commercial venture. The dense demographics of the surrounding area further enhance the investment potential, promising a strong customer base. This is a rare chance to acquire strategically positioned land in a thriving Memphis neighborhood, ready for immediate development. The properties are located in Shelby County and offer significant upside for the discerning investor seeking a high-return opportunity in a rapidly growing market. Detailed site plans and zoning information are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $277,463

  6.5%

  $256,120

  7%

  $237,825

• Comparable approach

  Method

  Valuation

  Relative Method

  $257,362

  Geo Method

  $257,362

• Alternative Use

  Use

  Valuation

  Residential

  $216,046

  Hospitality

  $197,897

  Educational

  $164,648

  Medical

  $170,311

  Retail

  $256,120

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.2175

Longitude

-89.9862

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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