Vacant Freestanding Retail
213 N Cleveland St Memphis, TN 38104
213 N Cleveland St, Memphis, TN, 38104
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For Sale
Contact for pricing
Vacant freestanding retail building offering 5,675 SF of space in Midtown Memphis near major employment and medical institutions.
Property Size5,675 SF
Price / SF$140.09
Days on Market113
Property Features for 213 N Cleveland St
General Information
- Standard status
- Active
- Size
- 5,675 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1997
Listing agency
Sands Investment Group Philadelphia
(858) 212-7473
Listed by
Tom Gorman · License #PA RM424383
Source
Crexi
Added: Apr 2 Updated: Jul 22 at 9:19PM Checked: Jul 22 at 9:19PM
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 Sands Investment Group Philadelphia
Investment Insights
Based on property information with market context.
Sands Investment Group is pleased to present for sale a vacant freestanding retail property offering 5,675 SF at 213 N Cleveland St in Memphis, TN. The building is available for immediate occupancy and is well-suited for a retail operator seeking standalone premises.
The property is located in Midtown Memphis and benefits from close proximity to major employment centers and institutions, including Methodist University Hospital and the Memphis Medical District. This area supports a strong daytime population and consistent demand.
As a freestanding retail asset with available interior space, the property offers a straightforward platform for a variety of retail concepts, subject to applicable approvals and lease terms.
The property is located in Midtown Memphis and benefits from close proximity to major employment centers and institutions, including Methodist University Hospital and the Memphis Medical District. This area supports a strong daytime population and consistent demand.
As a freestanding retail asset with available interior space, the property offers a straightforward platform for a variety of retail concepts, subject to applicable approvals and lease terms.
Key Highlights
- Vacant freestanding retail building with 5,675 SF of space
- Built in 1997
- Located at 213 N Cleveland Street in Memphis, TN
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.1k | $15.00 |
| − Vacancy | −$4.3k | −$0.75 |
| EGI | $80.9k | $14.25 |
| − OpEx | −$24.3k | −$4.27 |
| NOI | $56.6k | $9.98 |
5,675 SF · lease $15.00/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$808.7K
$707.6K – $943.5K
NOI $56,608 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,404 @ 7.0% cap · market cap 14.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Advance Auto Parts
Auto Parts Store
UPS Access Point ...
Courier Service
Similar For Sale Nearby
Similar Off Market Nearby
- Floriststory — 69 N Cleveland St, Memphis, TN 38104
- Kroger Floral — 1366 Poplar Ave, Memphis, TN 38104
- Variety Flowerland — 1344 overton park ave, memphis, tn 38104
FAQs
What type of property is this?
Storefront property - Vacant freestanding retail building offering 5,675 SF of space in Midtown Memphis near major employment and medical institutions.
Where is this storefront property located?
The property is located at 213 N Cleveland St Memphis, TN.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Vacant freestanding retail building with 5,675 SF of space; Built in 1997; Located at 213 N Cleveland Street in Memphis, TN
