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    1308 Union Ave Memphis, TN 38104

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    For Sale
    $1,500,000

    1,400 SF former restaurant in Memphis' medical district.

    Property size:
    1,400 SF
    Lot size:
    0.16 Acres

    Property Features for 1308 Union Ave

    General Information

    Size
    1,400 SF
    Lot size
    0.16 Acres

    Source: Colliers | Memphis Agent Henry Stratton

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Former Restaurant in Medical District

    This 1,400 square foot building, formerly a restaurant, is located near the corner of Cleveland Street and Union Avenue in Memphis, Tennessee. Situated on approximately 0.156 acres with frontage on Union Avenue, the property benefits from its location within an opportunity zone in Memphis' busy medical district, potentially offering various incentives. The site provides convenient access to I-240, I-40, and I-55. Traffic counts on Union Avenue average 44,641 vehicles per day. The property is suitable for restaurant or retail use.
    Insight Report Location Intelligence

    Current Use by Public Records

    Restaurants

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Iris Etc., Party Memphis, Off the Square Catering, Fuel Catering and Food Trucks, Firehouse Subs Union Ave-Memphis

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.0178829
    Latitude
    35.1372353

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    FAQs

    What type of property is this?
    Restaurant - 1,400 SF former restaurant in Memphis' medical district.
    Where is this restaurant located?
    The property is located at 1308 Union Ave Memphis, TN.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: - High traffic count of 44,641 VPD on Union Avenue.; - Located in Memphis' busy medical district.; - Easy access to I-240, I-40, and I-55.
    (901) 486-1397
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1308 Union Ave Memphis, TN 38104
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