Building Details

Year built 1924

Listing Agency: eXp Realty, LLC g***@exprealty.com Show Phone

Listed By: David Truong · License #17938 Show Phone

Added: Jun 24 Changed: Aug 4 Last Checked: Aug 11 at 5:06PM

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MLS# 10224700

Copyright © 2026 Memphis Area Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This coffee shop and restaurant building is offered as part of a two-parcel Midtown Memphis assemblage at 1324–1330 Peabody Ave. The offering includes a restaurant building associated with Pearl's Tea & Coffee House.

The property is positioned in the heart of Midtown near Central Gardens, Overton Square, Downtown Memphis, and the Medical District. The site is described as having strong traffic exposure and easy access to major thoroughfares, along with ample parking for patrons.

Built in 1924, the building may be suitable for investors and owner-users seeking an income-producing restaurant/coffee concept, or for redevelopment planning given the multi-parcel configuration and surrounding mix of restaurants, retail, offices, and residential neighborhoods.

Key Highlights

• Two‑parcel assemblage at 1324–1330 Peabody Ave
• Restaurant building associated with Pearl's Tea & Coffee House
• Midtown Memphis location near Central Gardens and Overton Square

Property Analytics

Property Profile

Current Use

Coffee shops

Suggested Use

Top Pick Home Appliance Store Furniture & Home Goods (Bike/Boat/Book/etc) Store Pet Grooming Service Florist Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,503

Businesses Nearby

323k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 56% Groceries 29% Shops & Services 11% Apparel 2%

Kroger Groceries

70,178 visits/mo 0.5 miles

Chick-fil-A Dining

55,414 visits/mo 0.2 miles

McDonald's Dining

25,061 visits/mo 0.2 miles

The Fresh Market Groceries

23,172 visits/mo 0.4 miles

Hattie B's Hot Chicken Dining

16,177 visits/mo 0.4 miles

Demographics for 38104, TN

22,584

Population

14,315

Households

1.6

Avg Household Size

38

Median Age

52%

College-Educated

93%

High-School Grad

5.0 sq mi

ZIP Area

4,517

Density / Sq Mi

$56,452

Median Household Income

$48,300

Median Earnings

$1,073

Median Rent

$301,100

Median Home Value

Market

Vacancy Rate% for Retail in Memphis, TN

6.5% 2019

6.9% 2020

6.3% 2021

4.9% 2022

5% 2023

5.2% 2024

6.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this coffee shops located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Coffee shop - Coffee shop/restaurant building on a two-parcel Midtown Memphis assemblage with ample parking and high-visibility frontage.

Where is this coffee shop located?

The property is located at 1324 PEABODY Ave Memphis, TN.

What is the asking price?

The asking price for this property is $1,299,900.

What are key features of this property?

This property features: Two‑parcel assemblage at 1324–1330 Peabody Ave; Restaurant building associated with Pearl's Tea & Coffee House; Midtown Memphis location near Central Gardens and Overton Square