Landmark Building Office
For Sale
$291,255
109 N Main, Memphis, TN 38103
Office suite in downtown Memphis with modern upgrades and amenities.
Property Size7,774 SF
Price / SF$323.62
Days on Market213
Property Features for 109 N Main
General Information
Standard status
Active
Size
7,774 SF
Class
B
Property subtype
Office
Building Details
Building Size
7,774 SF
Listing Agency:
Universal Commercial Real Estate LLC
Listed By:
Darrell Cobbins · License #278933
(901) 503-5917
Source:
Universalcommercial
Added: Mar 6
Changed: Oct 3
Last Checked: Oct 4 at 7:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Universal Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
Located in downtown Memphis, the Claridge House was originally constructed in the 1920s as a luxury hotel and renovated in 2004 into upscale residential and office condos. The property features an opulent lobby and a 900-square-foot rooftop deck with city skyline views. Building amenities include community WiFi, a gym, laundry room, roof deck, indoor pool, spa, and a club room. This office suite is situated in a landmark building on the Main Street trolley line. The space includes new paint, new carpet, large open workspaces and training rooms, a breakroom, and interior restrooms. It was built out for a federal government tenant in 2019 and includes tech upgrades, wiring, and keycard access. The suite offers views overlooking Civic Center Plaza and is near the City, Shelby County Building, Federal Building, and Downtown Memphis Commission. It is also located across Main Street from the upcoming redeveloped 100 N. Main Building. The location provides convenient access to AutoZone Park, FedExForum, and Beale Street Entertainment District, offering a mix of commercial, cultural, and entertainment establishments.
Key Highlights
- Prime downtown Memphis location with convenient access to AutoZone Park, FedExForum, and Beale Street.
- Located in a landmark building on the Main Street trolley line.
- Enjoy building amenities including a 900 sq ft rooftop deck, indoor pool, spa, gym, club room, laundry room, and community WiFi.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,770
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,400
$275.4K
Cap Rate 7%
$196,714
$196.7K
Cap Rate 9%
$153,000
$153.0K
Market Conditions
NOI Build-Up for 900 SF
Gross rent
$21.6K $24.00/SF
− Vacancy
−$3.2K −$3.60/SF
EGI
$18.4K $20.40/SF
− OpEx
−$4.6K −$5.10/SF
NOI
$13.8K $15.30/SF
Area
Memphis, TN
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,400
Cap Rate 7%
$196,714
Cap Rate 9%
$153,000
Alternative Uses
Best Use
Office B
$196.7K
$172.1K – $229.5K
NOI $13,770 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$266.0K
$232.7K – $310.3K
NOI $18,619 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,826
Businesses Nearby
Explore this area
Business Placement
Demographics for 38103, TN
14,739
Population
8,811
Households
1.7
Avg Household Size
35
Median Age
61%
College-Educated
95%
High-School Grad
2.7 sq mi
ZIP Area
5,459
Density / Sq Mi
$75,763
Median Household Income
$60,918
Median Earnings
$1,575
Median Rent
$380,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Memphis, TN
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Frequently Asked Questions
What type of property is this?
Office units - Office suite in downtown Memphis with modern upgrades and amenities.
Where is this office units located?
The property is located at 109 N Main Memphis, TN.
What is the asking price?
The asking price for this property is $291,255.
What are key features of this property?
This property features: Prime downtown Memphis location with convenient access to AutoZone Park, FedExForum, and Beale Street.; Located in a landmark building on the Main Street trolley line.; Enjoy building amenities including a **900 sq ft rooftop deck, indoor pool, spa, gym, club room, laundry room, and community WiFi.**
