199 S McLean Blvd - Apartments FOR SALE


Memphis, TN 38104- Midtown Memphis
$2,300,000 USD
901-767-1998
199 S McLean Blvd, Memphis, TN for Sale
$2,300,000 USD
Apartments - FOR SALE
1/16
null | Request Cap Rate

199 S McLean Blvd
Memphis, TN 38104
Midtown Memphis


HIGHLIGHTS

  • Call listing agent Steve Woodyard for more information 901-767-1998
  • OM available in document section
  • Visit our website for financials and other materials

OVERVIEW

The Midtowner presents a rare value-add opportunity in one of the city’s most dynamic and rapidly growing locations. Following a period of leasing challenges not entirely related to market conditions, new professional management is now in place and eager to remain, providing stability and immediate operational upside. The adjacent property, The Citizen Apartments, recently sold for $41,500,000, further underscoring the strength of the submarket. Nearby new construction and renovated assets are achieving top-of-market rents, signaling strong upside potential for repositioning. Ideally positioned in the center of over $14 billion in planned medical development, the property stands to benefit from thousands of new jobs and sustained demand growth. Additionally, it sits within Midtown’s vibrant entertainment district, offering residents unmatched access to dining, nightlife, and cultural amenities. National retailers like Starbucks and Walgreens directly across the street reinforce the strength and desirability of this location. The Midtowner combines proven location fundamentals with clear operational upside, making it an exceptional opportunity for investors seeking growth in a high-demand urban corridor.

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$106 USD /SF

# OF UNITS

20

PRICE/UNIT

$115,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Midtowner

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.66 AC

LAND SF

28,750 SF

ZONING

R-MM

APN/PARCEL ID

01-6043-0-0006C

ASK ABOUT THIS PROPERTY

Steve WoodyardWoodyard Realty CorporationMore Info
901-767-1998

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Steve WoodyardWoodyard Realty CorporationMore Info
901-767-1998

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.