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    113 Court Ave Memphis, TN 38103

    Sponsored
    For Sale
    $675,000

    Iconic Court Square location, 6,500 sq ft.

    Property size:
    6,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 6,500 square foot, three-level restaurant condo is situated at 113 S. Court Ave in Memphis, Tennessee, zip code 38103. Located within the historic Kress Building on Court Square, this second-generation restaurant boasts a prime downtown location with high foot traffic and walkability. The property features a ground floor restaurant space, a mezzanine level, and a basement complete with a fully equipped bar. The 6,650 square foot lot includes convenient front door parking. This unique layout offers a significant advantage, and the property is part of a commercial condo association with HOA fees covering only the restaurant space. The asking price is $675,000, and the occupancy date is May 15, 2024. This turnkey opportunity presents a rare chance to establish or expand a culinary business in the vibrant heart of Memphis, benefiting from the area's strong tourism and local clientele. The stunning views of Court Square further enhance the property's appeal and potential for success. This is an exceptional investment prospect in a highly desirable location.

    Property Features for 113 Court Ave

    General Information

    Property type
    Restaurants
    Square Feet
    6,500 SF

    HighLights

    • 6,500 SF, three‑level restaurant condo in Memphis, TN (38103).
    • Located in the historic Kress Building on Court Square, offering high foot traffic.
    • Ground floor restaurant space, mezzanine, and fully equipped bar in the basement.
    • 6,650 SF lot with convenient front door parking.
    • $675,000 asking price, occupancy May 15, 2024.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bells Soul Food ... Family Restaurant

    Suggested Use

    Realty agency Spa & Massage Dental Office Hair Salon Restaurant Nail Salon Building Supply Daycare Center Clothing Store 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
    -90.0521737
    Latitude
    35.1454747

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    FAQs

    What type of property is this?
    Restaurant - Iconic Court Square location, 6,500 sq ft.
    Where is this restaurant located?
    The property is located at 113 Court Ave Memphis, TN.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: 6,500 SF, three-level restaurant condo in Memphis, TN (38103).; Located in the historic Kress Building on Court Square, offering high foot traffic.; Ground floor restaurant space, mezzanine, and fully equipped bar in the basement.
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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
    113 Court Ave Memphis, TN 38103
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