Multi-Family

Heartbreak Hotel

633 Monroe Ave, Memphis, TN 38103

Listing Price: $925,000

Lot Size
0.17 acres
Price/Acre
$5,441,323
Land Type
Redevelopment
Buildable Square Feet
11,872

Investment Overview

Nearly 12,000 SF three-story building with a private courtyard area and access from front and rear. Positioned at the center of the Edge District at the intersection of Monroe and Marshall - this is the tallest building in the neighborhood and is positioned to be the centerpiece of the area. The residential market in Memphis is very strong, and inventory is low. Demand for quality contemporary housing close to the medical center remains high. Condominiums in the 38103 Zip code are selling up to $320/SF with an average of $210 for comparable units. This asset is an opportunity to convert into 12-16 units depending on configuration and research suggests that pre-sale marketing would be effective.

Investment Highlights

  • Neighborhood includes Sun Studios, High Cotton Brewing, Edge Motor Museum
  • Walking Distance to University of Tennessee Medical School - UTHSC
  • Less than 5 Minutes from St. Jude, Beale Street, Autozone Park and Other Attractions
  • Under 15 Minutes to Memphis International Airport
  • $950 Million Union Row Project from Downtown to Medical Center
  • Development Opportunity - Historic Building in the Edge Arts & Entertainment District

Exclusively Listed By

Listing Price: $925,000

Lot Size
0.17 acres
Price/Acre
$5,441,323
Land Type
Redevelopment
Buildable Square Feet
11,872

Investment Highlights

  • Neighborhood includes Sun Studios, High Cotton Brewing, Edge Motor Museum
  • Walking Distance to University of Tennessee Medical School - UTHSC
  • Less than 5 Minutes from St. Jude, Beale Street, Autozone Park and Other Attractions
  • Under 15 Minutes to Memphis International Airport
  • $950 Million Union Row Project from Downtown to Medical Center
  • Development Opportunity - Historic Building in the Edge Arts & Entertainment District

Investment Overview

Nearly 12,000 SF three-story building with a private courtyard area and access from front and rear. Positioned at the center of the Edge District at the intersection of Monroe and Marshall - this is the tallest building in the neighborhood and is positioned to be the centerpiece of the area. The residential market in Memphis is very strong, and inventory is low. Demand for quality contemporary housing close to the medical center remains high. Condominiums in the 38103 Zip code are selling up to $320/SF with an average of $210 for comparable units. This asset is an opportunity to convert into 12-16 units depending on configuration and research suggests that pre-sale marketing would be effective.

Exclusively Listed By

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