Located in the Heart of Palmetto, The Memphis is an asset with a pulse. This 16 Unit Complex is Concrete Block Construction and has some true value-add components to it.
Prospective purchasers are encouraged to visit the subject property prior to submitting offers.
However, all property tours must be arranged with the Dreznin Pappas commercial real estate listing agent. At no time shall the tenants, on-site management or staff be contacted without prior approval.
Some of those Value-Add points include;
@ The Memphis has Below Market Rents.
@ Located in a growing area with new Retail, Developments and Remodeled existing properties.
@ The Possible Pass Through of the Utilities (Electric through meters and Water through New Leases).
@ A 17th Bonus unit exists and produces income.
@ A stand-alone block building at the SE corner of the property may possibly be used as an additional income producing unit with approval.
Taking the upgrades ownership has made and improving upon those while adding your own vision to this income-producing property, the market tide has risen approximately $150/mo to $300/mo above the current rents being achieved.
Location Summary
Palmetto is a waterfront community located on the Gulf Coast of Florida, midway between Tampa / St. Petersburg to the north and Sarasota to the south.
Located in the middle of Palmetto, this ideal spot allows for access to many job centers, groceries, entertainment and recreation areas.
You are approximately
0.6 miles to Publix
0.7 miles from US-41
0.7 miles from Palmetto High School
1.3 miles from Super Wal-Mart
1.3 miles from ALDI Grocery
1.5 miles to Palmetto Historic District
1.5 miles from Bradenton Convention Center
1.5 miles from Palmetto Estuary Nature Preserve and Park
2.1 miles from Manatee School of the Arts
2.5 miles to Feld Entertainment
2.8 miles to Downtown Bradenton
3.0 miles to Ellenton
3.2 miles to Village of the Arts
3.4 miles from Manatee Memorial Hospital
3.9 miles to Snead Island / Emerson Point Preserve & Park
4.7 miles to I-75
Palmetto offers many enjoyable features, including:
12 city owned parks.
Numerous festivals including the Infamous Blues Festival and Fourth of July Fireworks.
Over 60 acres of green space.
Basketball and tennis courts.
Playgrounds and scenic spots to enjoy.
An estuary park abutting the Manatee River.
Memphis and Palmetto sit within Manatee County, FL.
Some statistics to shine a light on include; (Niche Rankings 2022)
99th percentile of Best Places to Retire in the United States
89th percentile of Best Places for Young Professionals in US
87th percentile of Healthiest Places in the Nation
85th percentile of Best Places to Live in the US
