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    409 Main St Memphis, TN 38103

    Sponsored
    For Sale
    $3,500,000

    Historic 3-Story Venue, 35,000 SF

    Property size:
    35,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 35,000 square foot, three-story building at 409 S Main St in Memphis, Tennessee, presents a unique investment opportunity. Originally constructed in 1910, this Class B retail property sits on a 0.195-acre lot and is currently vacant. The building boasts a rich history, previously housing the successful Lucky Cowboy bar and lounge. The basement, with its eclectic décor and furniture (available separately), once held 110 people and features restrooms. The first floor includes a brand-new, full commercial kitchen, perfect for restaurant use or venue expansion, along with multiple restrooms. The second floor offers a blank canvas for adaptable design and potential event space expansion. The third floor is a fully functioning wedding venue, comfortably accommodating 250 people (220 seated), complete with a caterer's kitchen, bridal suite, groom's suite, and attached restrooms. This turnkey operation generates revenue from scheduled venue rentals. The asking price is $3,500,000, translating to $100 per square foot. This property offers significant potential for a variety of uses and substantial returns. The building's prime location in downtown Memphis ensures high visibility and accessibility. This is a rare chance to acquire a historic property with significant existing infrastructure and immediate revenue potential.

    Property Features for 409 Main St

    General Information

    Property type
    Individual retail properties
    Square Feet
    35,000 SF
    Class
    B
    Lot Size
    8,494 SF

    Building Details

    Year Built
    1910
    Buildings
    1
    Stories
    3

    HighLights

    • Historic 35,000 SF, three‑story building in downtown Memphis, TN.
    • Basement: Former Lucky Cowboy bar/lounge; holds 110 people; restrooms; eclectic décor and furniture available separately.
    • First Floor: Brand new commercial kitchen; multiple restrooms; suitable for restaurant or venue expansion.
    • Second Floor: Adaptable space, potential for event expansion.
    • Third Floor: Turnkey wedding venue; capacity 250 (220 seated); caterer's kitchen; bridal and groom suites with attached restrooms; generates rental income.
    Property Profile Location Intelligence

    Current Use by Public Records

    wallflower memphis Florist Sweet Magnolia Gelato ... Ice Cream Shop Delectables Catering Caterer Alcohol Intervention Specialists Counselor Bass fishing pyramid Hotel

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.0583228
    Latitude
    35.1354531

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    FAQs

    What type of property is this?
    Individual retail property - Historic 3-Story Venue, 35,000 SF
    Where is this individual retail property located?
    The property is located at 409 Main St Memphis, TN.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: Historic 35,000 SF, three-story building in downtown Memphis, TN.; Basement: Former Lucky Cowboy bar/lounge; holds 110 people; restrooms; eclectic décor and furniture available separately.; First Floor: Brand new commercial kitchen; multiple restrooms; suitable for restaurant or venue expansion.
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    409 Main St Memphis, TN 38103
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    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
    409 Main St Memphis, TN 38103
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