Riverside Dr
Memphis, TN 38103
Land For Sale · 2.58 AC

Lot Address: 677 Riverside Dr, Memphis, TN 38103 | This is a rare opportunity to own and develop a piece of premium real estate, a paved lot, located on the Mississippi River and is within 1-2 miles distance of the best entertainment venues in Downtown Memphis. Many exciting economic developments are happening in the Downtown Memphis and Midtown markets, which are bringing a large increase in jobs and need for housing in the Downtown Memphis Area, including the St. Jude $9 Billion Expansion, the ServiceMaster $40 Millions corporate headquarters, UT/Baptist Research Park’s $450 Million development project, the Crosstown Concourse $180 Million renovation, and many others. These economics drivers have already and will be creating high demand for Class A residential housing in the Downtown Memphis area. This 2.58 Acre paved lot is strategically located with views of the Gorgeous Mississippi River, is near the hottest entertainments in the city, and is ready for Condo, Multifamily/Apartment, or Hotel development! This lot offers an amazing investment for the developer who wants capitalize on this one of a kind opportunity! This 2.58 Acres Lot situated on Riverside Drive is within 1-2 miles of the many Hot Spots where locals hang out and where tourists come to Memphis to visit, including the Fedex Forum arena where the Memphis Grizzlies team play, the Memphis RedBirds and Autozone Park where Redbirds baseball games are held, Beale Street where there are lots restaurants and bars and where tourist go, the legendary Peabody Hotel, the Bass Pro Shop Pyramid, and where the popular annual Memphis in May Music Festivals and World Barbeque Contest are held. Downtown Memphis is one of the fastest growing commercial and residential markets in the South. Some of the laudable recent developments of Downtown Memphis consist of the $9 Billion Strategic Expansion Plan for St. Jude Children' s Research Hospital which will have tremendous economic impact in the area, including 1,800 new healthcare jobs plus 3,000 general medical district jobs. Also, ServiceMaster's new $40 Million Downtown corporate headquarters will redevelop the Peabody Place mall into a high end Class A office building, that will generate an increase of 1,200 new jobs downtown by 2017 year end. Nearby in the Midtown area, the University of Tennessee/ Baptist Research Park is a $450 million development project over the course of 10 years that consists of more than 1.3 million square feet. Also, Crosstown Concourse reconstructed the Sears Tower with over $180 Million in renovations and modernization and 1.1 Million Square Feet of Mixed Used Space. This will have an impact of $330 million overall economic influence in the marketplace; creating over 1,000 construction jobs and 800 new full-time jobs. Just recently developers made public in summer of 2017, a $73 Million Construction Plan is underway of mix use of Office, Retail Space, and Residential at the location of the prior Wonder Bread factory in the Edge District, which is between Downtown and Medical District.