Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Highland Strip Retail Opportunity Title is generated by Realmo AI

    521-529 S Highland Street, Memphis, TN 38111

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Retail and restaurant space near the University of Memphis.

    Type:Retail
    Added:
    Mar 5, 2026
    Days on Market:
    87
    Last Refresh:
    Apr 5 at 9:03 pm

    Property Features for 521-529 S Highland Street

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Properties For Sale

    at 521-529 S Highland Street Contact us

    We can help!

    Listing Contact
    Grady Cotham

    Listing agent Grady Cotham

    Listing office Jones Aur Commercial Real Estate | Memphis

    Listing date Mar 5, 2026

    Source Jonesaur

    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 Jones Aur Commercial Real Estate | Memphis

    HighLights

    • Prime location within the Highland Strip entertainment area, near the University of Memphis.
    • High traffic counts on Highland St (19,005 AADT), Central Avenue (19,885 AADT).
    • Proximity to the University of Memphis with a student population of 21,000+.
    • Over $200M in new area development, including 5 capital projects by the University.
    • Ideal opportunity for restaurant or retail business.
    • Ample parking with street parking and surface parking in the rear.

    Overview

    This retail and restaurant opportunity is located on Highland Street, a short walk from the University of Memphis, as part of the Highland Strip entertainment area. The University of Memphis has over 21,000 students. The area has new development planned to exceed $200 million, including 5 capital projects by the University. Traffic counts are: Highland St (19,005 AADT), Central Avenue (19,885 AADT), and Poplar Avenue (16,261 AADT). The property features street parking and abundant surface parking in the rear.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9459
    Latitude
    35.1174

    Nearby Similar for Sale

    • $1,550,000
      13,455 SF

      Memphis Commercial/Industrial Opportunity For Sale

      13,455 SF flex/warehouse/office building on 0.712 acres.
      6735 WHITTEN Pl, Memphis, TN 38133
      View Details
    • $699,000
      7,868 SF

      High-Traffic Commercial Space in Memphis

      Versatile 7,868 SF commercial space in high-growth Memphis area.
      2802 LAMAR Ave, Memphis, TN 38114
      View Details
    • $765,000

      Memphis Commercial Property For Sale

      Commercial property with potential for medical or office space.
      804 S HIGHLAND St, Memphis, TN 38111
      View Details
    • $310,000
      2,584 SF

      Memphis Commercial Property for Sale

      Commercial property in Memphis, TN, featuring 2584 square feet.
      333 S Bellevue Boulevard, Memphis, TN 38104
      View Details
    • $750,000

      Former Grocery Store on Lamar

      16,706+/- SF former grocery store on 2.5+/- acres.
      2877 Lamar Ave, Memphis, TN 38114
      View Details
    • $914,900
      7,232 SF

      East Memphis Multifamily Investment Opportunity

      Renovated 10-unit property near Walnut Grove Road.
      160 HAYDEN Pl, Memphis, TN 38111
      View Details
    • $160,000

      Versatile Commercial Property in Memphis

      Adaptable commercial space suitable for various business types or investment.
      3402 PARK Ave, Memphis, TN 38111
      View Details
    • $740,000

      Mixed-Use Commercial Building in Memphis

      Versatile property with retail, office, and warehouse potential.
      413 DECATUR St, Memphis, TN 38105
      View Details
    • $1,650,000
      1,116 SF

      Gated Townhome Community in Memphis

      Fully occupied, renovated townhomes near Overton Square. Perfect for investors.
      1961-1970 REMBERT Pl, Memphis, TN 38104
      View Details
    • $1,568,000
      946 SF

      Midtown Memphis Multifamily Investment

      Nineteen units in Midtown Memphis, generating $17,410 monthly.
      32 N BELVEDERE Blvd, Memphis, TN 38104
      View Details
    • $2,500,000

      Office Building in Medical District

      Free-standing office building in the heart of the medical district.
      225 S CLEVELAND St, Memphis, TN 38104
      View Details
    • $139,000

      Commercial Property in High-Visibility Location

      Income-producing commercial property suitable for various business types or residence.
      3191 JACKSON Ave, Memphis, TN 38112
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail and restaurant space near the University of Memphis.
    Where is this retail space located?
    The property is located at 521-529 S Highland Street Memphis, TN.
    What are key features of this property?
    This property features: Prime location within the Highland Strip entertainment area, near the University of Memphis.; High traffic counts on Highland St (19,005 AADT), Central Avenue (19,885 AADT).; Proximity to the University of Memphis with a student population of 21,000+.
    (901) 545-3939
    We can help!
    Listing Contact
    Grady Cotham
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    521-529 S Highland Street, Memphis, TN 38111
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!