Situated in the heart of Memphis, the Court Avenue lot is on approximately one half-acre of paved land and striped for 37 parking spaces. The lot is surrounded by an assortment of commercial offices and restaurants, as well as Autozone Park, home of the city’s minor league baseball team. In addition, the lot is just a short walking distance from a number of government administration buildings, including the Greater Memphis Chamber and Federal Courthouse.
Acquisition of Property
|Address||216 Court Avenue
Memphis, TN 38103
|Acquisition Date||Aug. 28, 2013|
|Purchase Price||Property is part of an aggregate $13.5 million, six parking facility portfolio|
Memphis, TN: Founded almost 200 years ago, the city of Memphis has been a magnet for attracting people from all over the Delta, Mississippi, and West Tennessee. Today the city has a population of more than 650,000 people, making the largest city in Tennessee and the 20th largest city in the U.S.
Economic Overview: Known as America’s Aerotropolis because of the city’s central location and major industries, downtown Memphis is home to a diverse number of businesses and organizations including hosptials, schools and sporting facilities. The city, bordered by the Mississippi River, has one the nation’s largest ports, importing millions of tons of cargo each year. As a result, Memphis is the third largest rail center in the U.S., while the Memphis International Airport has been ranked as the top cargo airport in North America since 1992.
THIS LITERATURE MUST BE READ IN CONJUNCTION WITH THE PROSPECTUS IN ORDER TO FULLY UNDERSTAND ALL THE IMPLICATIONS AND RISKS OF THE OFFERING TO WHICH THE PROSPECTUS RELATES.THIS SALES AND ADVERTISING LITERATURE IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY SECURITIES. AN OFFERING IS MADE ONLY BY THE PROSPECTUS. A COPY OF THE PROSPECTUS MUST BE MADE AVAILABLE TO YOU IN CONNECTION WITH ANY OFFERING AND IS AVAILABLE WITHOUT CHARGE UPON WRITTEN REQUEST TO MVP REIT, INC., AT 8880 WEST SUNSET ROAD, SUITE 240, LAS VEGAS, NEVADA, 89148. THE PROSPECTUS IS ALSO AVAILABLE ON THE MVP REIT WEBSITE AT MVPREIT.COM/PROSPECTUS. PHONE INQUIRIES MAY BE DIRECTED TO (877) 684-6871. NEITHER THE SEC OR THE ATTORNEY GENERAL OF THE STATE OF NEW YORK NOR ANY OTHER STATE OR FEDERAL REGULATOR HAS APPROVED OR DISAPPROVED OF THE MERITS OF THIS OFFERING. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. THIS MATERIAL HAS BEEN PRECEDED BY OR IS ACCOMPANIED BY A PROSPECTUS. MVP AMERICAN SECURITIES, THE BROKER-DEALER SOLICITING MVP REIT SHARES, IS A MEMBER OF FINRA/SIPC.
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