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    3008 Park Ave Memphis, TN 38114

    Sponsored
    For Lease
    $9 SF/Yr ($4,733 /Mo)

    High-traffic retail space, flexible layouts.

    Lot size:
    5,850 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional retail opportunity is located at 3002-3010 Park Avenue in Shelby County, offering prime visibility and high traffic counts. The property, built in 1964, is classified as Class D and encompasses a total of 5,850 square feet. Currently, 1,866 square feet of retail space is available, divisible into units ranging from a minimum of 630 square feet to a maximum contiguous space of 1,236 square feet. This flexibility allows for a variety of retail concepts and business sizes. The building does not have elevators. The property's location on Park Avenue provides excellent exposure to a large volume of daily traffic, making it an ideal location for businesses seeking high visibility and accessibility. The address is easily identifiable and accessible, further enhancing its appeal to potential tenants. This is a rare opportunity to secure retail space in a well-established area with significant foot traffic and strong potential for business growth. Serious inquiries are encouraged to explore this promising investment.

    Property Features for 3008 Park Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,850 SF
    Class
    D
    Total Rate
    4733.63

    Building Details

    Year Built
    1964

    Unit(s) available at that property

    Space
    3010 Park Ave.
    Size
    1,236 SF
    Rate per SF
    $9
    Space
    3008 Park Ave.
    Size
    630 SF
    Rate per SF
    $13

    HighLights

    • 5,850 SF multi‑tenant retail building in Shelby County.
    • Spaces available from 630 SF to 1,236 SF contiguous.
    • 1,866 SF of vacant space currently available.
    • Class D building constructed in 1964, no elevators.
    • Located on Park Avenue, near Park Avenue.
    Property Profile Location Intelligence

    Current Use by Public Records

    Beauty Shop Beauty Salon

    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
    -89.962346517846
    Latitude
    35.107835332753

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    FAQs

    What type of property is this?
    Retail property - High-traffic retail space, flexible layouts.
    Where is this retail property located?
    The property is located at 3008 Park Ave Memphis, TN.
    What is the lease rate?
    The lease rate is $9-$13 SF/Yr.
    What are key features of this property?
    This property features: 5,850 SF multi-tenant retail building in Shelby County.; Spaces available from 630 SF to 1,236 SF contiguous.; 1,866 SF of vacant space currently available.
    Request Owner's contact information
    3008 Park Ave Memphis, TN 38114
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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
    3008 Park Ave Memphis, TN 38114
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