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    121 Union Ave Memphis, TN 38103

    Sponsored
    For Sale
    $1,500,000

    Prime location, 21,072 sq ft, vacant, high foot traffic.

    Property size:
    21,072 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional commercial property, located at 121 Union Ave in the heart of downtown Memphis, Tennessee, presents a unique investment opportunity. The 21,072 square foot building sits on a 0.12-acre lot and is zoned for commercial use. Currently vacant, this property offers significant potential for a variety of uses, particularly given its existing restaurant infrastructure. The ground floor features a fully equipped kitchen, ideal for a restaurant or similar food service establishment. Two additional upper levels provide ample space for expansion, office space, or other complementary businesses. The property enjoys a prime location, boasting high foot traffic and adjacency to The Peabody Memphis. Its proximity to numerous well-established restaurants, including The Rendezvous, Huey's Downtown, and many others, ensures a vibrant and bustling atmosphere. Union Avenue's high traffic count of 12,897 AADT further underscores the property's exceptional visibility and accessibility. This is a rare opportunity to acquire a substantial commercial building in a coveted downtown Memphis location. The asking price is $1,500,000. The property is offered for sale by owner. This is a turnkey opportunity for a savvy investor looking to capitalize on the thriving Memphis market.

    Property Features for 121 Union Ave

    General Information

    Property type
    Restaurants
    Square Feet
    21,072 SF
    Lot Size
    5,227 SF

    HighLights

    • Ground floor restaurant space with fully equipped kitchen and two upper levels available for lease.
    • Excellent location adjacent to The Peabody Memphis and near major Memphis attractions.
    • Prime location surrounded by numerous established restaurants.
    • High traffic count on Union Avenue (12,897 AADT).
    Property Profile Location Intelligence

    Current Use by Public Records

    The Nine Authentic Thai ... Thai Restaurant

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Daycare Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.05276248
    Latitude
    35.1429796

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    FAQs

    What type of property is this?
    Restaurant - Prime location, 21,072 sq ft, vacant, high foot traffic.
    Where is this restaurant located?
    The property is located at 121 Union Ave Memphis, TN.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Ground floor restaurant space with fully equipped kitchen and two upper levels available for lease.; Excellent location adjacent to The Peabody Memphis and near major Memphis attractions.; Prime location surrounded by numerous established restaurants.
    Request Owner's contact information
    121 Union Ave Memphis, TN 38103
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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
    121 Union Ave Memphis, TN 38103
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