2151 Central Ave Memphis, TN 38104-5502
- Retail space
- 13,816 SF
- 0.87 lot acres
Current Use by Public Records
- Urban Outfitters / Fashion Accessories Store / Home Goods Store
Property Details for 2151 Central Ave
- Year built
- 1935
- Lot size
- 0.87 lot acres
- Property size
- 13,816 SF
- Zone code
- CMU-1
- Property type
- Retail space
- APN
- 029-001- - -00020
- APU
- 2900100020
Description
This exceptional retail investment opportunity presents a thriving 17,300 square foot shopping center located at 2151 Central Ave, Memphis, TN 38104, in the heart of Midtown Memphis. The property is currently occupied by five tenants, including Urban Outfitter, Pavo, Fox+Catvintage, and Knifebird, ensuring a diverse and stable income stream. The center operates under a NNN lease structure, minimizing landlord responsibilities. The asking price is $4,900,000, translating to a price per square foot of $283.24. The property benefits from built-in rent bumps, providing future income growth potential. Its strategic location within a vibrant and high-traffic area of Midtown Memphis guarantees consistent foot traffic and strong business performance. The presence of a Bank of America ATM further enhances the property's appeal and convenience for shoppers. This multi-tenant retail center offers a compelling investment opportunity with significant potential for long-term growth and profitability. The property's strong tenant mix and prime location make it an attractive asset for discerning investors seeking a stable and high-yielding investment in the thriving Memphis market. The Shelby County location provides access to a large and diverse customer base. This is a turnkey operation ready for immediate income generation.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,720,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $4,305,000
- 6.5%
- $4,165,000
- 7%
- $4,720,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $4,795,000
- Geo Method
- $4,630,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $4,245,000
- Retail
- $3,935,000
- Mixed-Use
- $4,060,000
- Hospitality
- $4,740,000
- Educational
- $4,755,000
- Residential Income
- $3,935,000
- Energy
- $4,705,000
- Income-Based Land
- $3,710,000
- Food Service
- $4,640,000
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.9902
- Latitude
- 35.1257
- CBSA code
- 32820
- CBSA name
- MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA
