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147 Jefferson Ave 102,600 SF Office Building Memphis, TN 38103 $3,700,000 ($36.06/SF)
EXECUTIVE SUMMARY
Exciting Property Updates!
NEW PARKING SOLUTION - Surface parking offering 90 spaces on adjoining parcel can now be arranged via parking lease agreement.
NEW ROOF - The building will be delivered with a new roof! Installation is currently underway offering New Ownership an immediate start to taking the asset to the next level!
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: $3,700,000 or $36 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
NEW PARKING SOLUTION - Surface parking offering 90 spaces on adjoining parcel can now be arranged via parking lease agreement.
NEW ROOF - The building will be delivered with a new roof! Installation is currently underway offering New Ownership an immediate start to taking the asset to the next level!
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: $3,700,000 or $36 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
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
102,600 SF
Building Class
B
Year Built
1955
Price
$3,700,000
Price Per SF
$36.06
Tenancy
Multiple
Building Height
12 Stories
Typical Floor Size
8,550 SF
Slab To Slab
11’
Building FAR
2.94
Lot Size
0.80 AC
Zoning
CBD - Commercial Business Development Zoning
1 1
Walk Score®
Walker's Paradise (95)
Bike Score®
Very Bikeable (86)
PROPERTY TAXES
| Parcel Number | 00-2024-0-0013 | Improvements Assessment | $716,840 |
| Land Assessment | $136,640 | Total Assessment | $853,480 |
PROPERTY TAXES
Parcel Number
00-2024-0-0013
Land Assessment
$136,640
Improvements Assessment
$716,840
Total Assessment
$853,480
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147 Jefferson Ave
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