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    1299 Mclemore Ave Memphis, TN 38106

    For Sale
    $2,300,000

    30,000 SF, 2.8 Acres, Move-In Ready

    Property size:
    30,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 30,000-square-foot property, situated on a spacious 2.83-acre campus in Midtown Memphis, presents a unique investment opportunity. The property comprises three buildings, offering ample space for a variety of uses. Originally a charter school, the buildings boast numerous classrooms and group rooms, a kitchen, a walk-in freezer and cooler, and a substantial play area. Significant renovations were completed in 2008, 2010, and 2015, ensuring the property is in excellent condition. The roof, a TPO system, was replaced just four years ago. The property is equipped with a three-phase power system, an electronic gate, and a fire alarm system, enhancing security and functionality. Zoned EMP, this versatile property is vacant and ready for immediate occupancy. The asking price is $2,300,000, translating to $76.67 per square foot. Built in 1956, this well-maintained campus offers significant potential for various commercial ventures. Located at 1299 E McLemore Ave, Memphis, TN 38106, this property is conveniently situated in a vibrant Midtown location.

    Property Features for 1299 Mclemore Ave

    General Information

    Property type
    Schools
    Square Feet
    30,000 SF
    Lot Size
    123,275 SF

    Building Details

    Year Built
    1956
    Buildings
    3

    HighLights

    • 30,000 SF across three buildings on a 2.83‑acre campus.
    • 2.83‑acre Midtown Memphis campus.
    • Equipped with an electronic gate and fire alarm system.
    • Renovated in 2015 (with additional renovations in 2008 and 2010).
    • Vacant and move‑in ready.
    Property Profile Location Intelligence

    Current Use by Public Records

    Aster College Preparatory ... School Pogue Management Corporation Business Management Consultant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.0191658
    Latitude
    35.1144125

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    FAQs

    What type of property is this?
    School - 30,000 SF, 2.8 Acres, Move-In Ready
    Where is this school located?
    The property is located at 1299 Mclemore Ave Memphis, TN.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: 30,000 SF across three buildings on a 2.83-acre campus.; 2.83-acre Midtown Memphis campus.; Equipped with an electronic gate and fire alarm system.
    Request Owner's contact information
    1299 Mclemore Ave Memphis, TN 38106
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    Realmo Value Estimation

    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.

    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.

    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
    1299 Mclemore Ave Memphis, TN 38106
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