Multi-Room Mixed-Use
For Sale
Contact for pricing
3515 Summer Avenue, Memphis, TN 38122
Existing kitchen, two bathrooms, and fenced grounds support flexible commercial use.
Property Size1,943 SF
Price / SF$180.13
Days on Market56
Property Features for 3515 Summer Avenue
General Information
Standard status
Active
Size
1,943 SF
Property subtype
Mixed Use
Zoning
Commercial Mixed Use – 3
Site & Location
Neighborhood
Brinkley Heights Cdc
Amenities
full kitchen
two bathrooms
fully fenced
Listing Agency:
901 Properties
Listed By:
Brook Loper · License #TN 322379
(901) 490-4770
Source:
Crexi
Added: Sep 4
Changed: Oct 25
Last Checked: Oct 28 at 8:59AM
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 901 Properties
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Investment Insights
Based on property information with market context.
This 1,943 SF mixed-use commercial property is configured with 10 private single rooms, office space, a full kitchen, and two bathrooms. The multi-room layout may support continued use in its current form or adaptation for private suites and other service-oriented commercial purposes, subject to applicable approvals. Some openings currently use sliding doors installed for the prior business; future modifications would depend on the intended use and building requirements.
The property is fully fenced and located at 3515 Summer Avenue in Memphis, along an established commercial corridor approximately 8 miles from Downtown Memphis. The site is zoned Commercial Mixed Use – 3, with potential uses subject to zoning, licensing, occupancy, and governmental requirements. Shopping, dining, businesses, services, and major Memphis thoroughfares are identified as nearby context. Buyers should evaluate the property’s existing condition through actual photographs, inspections, and independent due diligence.
The property is fully fenced and located at 3515 Summer Avenue in Memphis, along an established commercial corridor approximately 8 miles from Downtown Memphis. The site is zoned Commercial Mixed Use – 3, with potential uses subject to zoning, licensing, occupancy, and governmental requirements. Shopping, dining, businesses, services, and major Memphis thoroughfares are identified as nearby context. Buyers should evaluate the property’s existing condition through actual photographs, inspections, and independent due diligence.
Key Highlights
- 1,943 SF mixed‑use commercial property
- 10 private single rooms plus office space
- Full kitchen and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,607
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,140
$472.1K
Cap Rate 7%
$337,243
$337.2K
Cap Rate 9%
$262,300
$262.3K
Market Conditions
NOI Build-Up for 1,943 SF
Gross rent
$42.0K $21.60/SF
− Vacancy
−$4.2K −$2.16/SF
EGI
$37.8K $19.44/SF
− OpEx
−$14.2K −$7.29/SF
NOI
$23.6K $12.15/SF
Area
Memphis, TN
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,140
Cap Rate 7%
$337,243
Cap Rate 9%
$262,300
Alternative Uses
Best Use
Mixed Use
$337.2K
$295.1K – $393.5K
NOI $23,607 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$574.2K
$502.5K – $670.0K
NOI $40,197 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
514
Businesses Nearby
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Business Placement
Demographics for 38122, TN
26,432
Population
10,201
Households
2.6
Avg Household Size
33
Median Age
22%
College-Educated
74%
High-School Grad
6.8 sq mi
ZIP Area
3,887
Density / Sq Mi
$45,456
Median Household Income
$32,760
Median Earnings
$1,127
Median Rent
$108,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Existing kitchen, two bathrooms, and fenced grounds support flexible commercial use.
Where is this mixed-use property located?
The property is located at 3515 Summer Avenue Memphis, TN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,943 SF mixed‑use commercial property; 10 private single rooms plus office space; Full kitchen and two bathrooms
