Listed by Newmark - Memphis, Newmark
Unpriced
Chapel Place Homes
Details
Property Type Multifamily
Sub Type Single Family Rental Portfolio
Square Footage 116,240
Net Rentable (SqFt) 1,336
Units 87
Occupancy 97%
Price per SqFt $1
Class B
Year Built 2011
Multifamily | 87 Units
Marketing description
Newmark memphis multifamily is pleased to present chapel place, a collection of 87 single-family rental homes located in memphis, tn. The community has a transferrable tax abatement in place until 2031, providing thousands of dollars in property tax savings. Capitalizing on the popular build-to-rent trend, chapel place offers spacious homes with yards, averaging 1,336 square feet, desirable for families.
Investment highlights
- The average single-family home price within a five mile radius of the property is $203k, showing the demand for homes in this area and providing an opportunity for new ownership to divide the property and sell the units separately.
- Xai, developer of the the world's largest supercomputer, recently purchased land less than a mile from chapel place to construct a support data center.
- The property is six miles from memphis international airport and fedex's super hub (11,000 employees). The airport is surrounded by 180m sf of distributions and logistics companies, proving support for major brands like williams sonoma, nike and ford.
- The midtown medical corridor is five minutes from the property, with 40k medical jobs and seven major hospitals.
- Chapel place is a ten-minute drive from the downtown central business district, a thriving city center with 72k jobs in the government, financial and legal sectors.
- Downtown memphis offers a variety of entertainment and sports options such as the orpheum theater (broadway shows and concerts), historic beale street (restaurants, nightclubs and live music), the fedex forum (nba grizzlies and uofm tigers basketball) and autozone park (memphis redbirds aaa baseball).
- Average Market Rent : $1,101/$0.82 PSF
Listing Contacts
Listed by Newmark - Memphis, Newmark
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Zoning
R-8 ResidentialSingle FamilyResidential Single Family 8
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View all 168 uses Last updated Apr 15, 2026 For deeper zoning details, reports are available at Zoneomics
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