114 Tillman St Memphis, TN 38111-2712
- Individual retail properties
- 1,650 SF
- 0.19 lot acres
Jul 06, 2021
Current Use by Public Records
- Super Suds Coin-Op Laundry / Cleaners
- Sudds & More Laundromat & Carwash / Laundry Service
- Clean Dr / Doctor
Property Details for 114 Tillman St
- Year built
- 2002
- Lot size
- 0.19 lot acres
- Property size
- 1,650 SF
- Zone code
- CMU-1
- Property type
- Individual retail properties
- APN
- 044-012- - -00014
- APU
- 4401200014
Description
This exceptional mixed-use property, located at 114 & 118 Tillman St in Memphis, Tennessee, presents a compelling investment opportunity. The property consists of two buildings totaling 1,650 to 3,000 square feet on a 0.75-acre lot, zoned CMU-1 (Commercial Mixed Use-1). Built in 2002 and extensively renovated in 2021, the buildings are in excellent condition. The property boasts a strong Net Operating Income (NOI) of $72,271, yielding an attractive 11.95% cap rate. The asking price is $605,000, translating to a land value of $101 per square foot. The property features a 100% ownership structure and was fully occupied as of May 17, 2022. This owner/user investment is ideal for those seeking a stable, high-return asset in a desirable Midtown Memphis location. The property's location offers excellent visibility and access to significant traffic. The buildings are single-story structures. This is a rare opportunity to acquire a well-maintained, high-performing mixed-use property in a thriving Memphis neighborhood.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $420,000
- ML approach
- $450,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.9624
- Latitude
- 35.1347
- CBSA code
- 32820
- CBSA name
- MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA
