executive summary
Cushman & Wakefield is offering a prime investment opportunity with the sale of approximately 18.853 acres of land located on Austin Peay Highway in Memphis, Tennessee. This property features 1,855 feet of frontage along the highway, providing excellent visibility to the 23,170 vehicles that pass daily. The land is divided into two zoned areas: 14.218 acres zoned CMU-2 for commercial mixed-use and 4.635 acres zoned RU-3 for residential use, offering flexibility for various development opportunities. The site is strategically located less than a mile from Methodist North Hospital, enhancing its appeal for both commercial and residential projects. The surrounding area is densely populated, with over 80,000 residents within a 5-mile radius and an average household income of $89,269 within 3 miles, making it an attractive location for developers seeking to capitalize on a thriving market.
Property Highlights
- 18.853 Acres for Sale on Austin Peay Hwy
- 1,855 +/- feet of frontage
- 14.218 acres Zoned CMU-2
- 4.635 acres Zoned RU-3
- Less than a mile from Methodist North Hospital (246 beds)
Traffic Counts
- Austin Peay Hwy – 23,170 VPD