Midtown Memphis Mixed-Use
For Sale
Contact for pricing
199 Summitt St, Memphis, TN 38104
Multi-level property with office, studio apartments, and creative space.
Property Size6,688 SF
Days on Market1187
Property Features for 199 Summitt St
General Information
Standard status
Active
Size
6,688 SF
Class
B
Property subtype
Hospitality, Mixed Use, Office, Retail
Lease Type
NNN
Building Details
Year Built
1910
Buildings
1
Stories
2
Listing Agency:
Universal Commercial Real Estate LLC
(901) 249-9744
Listed By:
Darrell Cobbins · License #278933
Source:
Crexi
Added: May 25, 2023
Changed: Aug 16
Last Checked: Aug 22 at 5:51PM
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.
This unique mixed-use property is located in the heart of Midtown Memphis, also known as the Heart of the Arts. The multi-level property features an upper level with office space that was previously occupied by a law firm, including 4 private offices, a conference room, and a break-room/kitchen. Additionally, there is a fully renovated studio apartment ready for occupancy, as well as another studio apartment that is not yet renovated. Both units present opportunities for long-term or short-term rental, such as Airbnb or VRBO. The lower level offers office or creative space that is partially renovated but available for occupancy, currently used as a creative visual marketing studio. The property is situated one block from Union Avenue, directly behind the Midtown Fresh Market, and two blocks from Overton Square. It is also located blocks away from the Cooper-Young neighborhood and entertainment district. Situated in a quiet Midtown neighborhood, the property is close to cultural destinations such as Playhouse on the Square, Hattiloo Theatre, the Memphian Hotel, Ballet Memphis, the Brook Museum, the Memphis Zoo, the Overton Park Shell, and Overton Park. Major hotel, apartment, and retail investments are occurring along Union Avenue and Cooper Street within blocks of this property. The property size is 6688 square feet.
Key Highlights
- Unique mixed‑use property featuring office space and apartments for diverse income potential.
- Prime Midtown location near Overton Square and Cooper‑Young, offering easy access to entertainment and cultural destinations.
- Upper level features a fully renovated studio apartment ready for occupancy** and a second studio apartment with renovation potential.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,194
Businesses Nearby
Explore this area
Business Placement
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 Office in Memphis, TN
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-level property with office, studio apartments, and creative space.
Where is this mixed-use property located?
The property is located at 199 Summitt St Memphis, TN.
What are key features of this property?
This property features: Unique mixed‑use property featuring office space and apartments for diverse income potential.; Prime Midtown location near Overton Square and Cooper‑Young, offering easy access to entertainment and cultural destinations.; Upper level features a fully renovated studio apartment ready for occupancy** and a second studio apartment with renovation potential.
