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    5049 Summer Ave Memphis, TN 38122

    Sponsored
    For Lease
    Contact for pricing

    Memphis Office/Retail Space - Lease or Build

    Lot size:
    4,183 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 4,183 square foot former bank branch, situated on a 0.96-acre lot in Shelby County's East Retail submarket, presents a unique opportunity. The single-story, Class B building, constructed in 1974, boasts a prime location at a hard corner on Summer Avenue, offering excellent visibility and accessibility. The property features a two-lane drive-thru, 37 parking spaces, and is zoned CMU-3, allowing for a variety of commercial uses including office, retail, and medical. Its strategic location across from three shopping centers with national tenants, and within five miles of the University of Memphis, government buildings, and major interstates (I-40 and I-240), ensures high traffic counts (25,800 vehicles daily). The property is currently vacant and available for lease, offering the flexibility to renovate the existing structure or build to suit. The property's strong co-tenancy, high visibility, and convenient location make it an ideal investment for businesses seeking a prominent presence in a thriving Memphis market. Annual property taxes are $3.45 per square foot. The APN is 06-3058-0-0008.

    Property Features for 5049 Summer Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,183 SF
    Class
    B

    Building Details

    Year Built
    1974
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Size
    41,818 SF

    HighLights

    • 4,183 SF former bank branch available for lease; renovate or build to suit.
    • 0.96‑acre lot at a hard corner with high visibility across from three shopping centers with national tenants.
    • Building features a two‑lane drive‑thru and 37 parking spaces; CMU‑3 zoning allows for various commercial uses.
    • High traffic count (25,800 vehicles per day) and excellent access from Summer Ave.
    Property Profile Location Intelligence

    Current Use by Public Records

    ATM (Suntrust Bank) Atm

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.89240227
    Latitude
    35.1500093

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    FAQs

    What type of property is this?
    Restaurant - Memphis Office/Retail Space - Lease or Build
    Where is this restaurant located?
    The property is located at 5049 Summer Ave Memphis, TN.
    What are key features of this property?
    This property features: 4,183 SF former bank branch available for lease; renovate or build to suit.; 0.96-acre lot at a hard corner with high visibility across from three shopping centers with national tenants.; Building features a two-lane drive-thru and 37 parking spaces; CMU-3 zoning allows for various commercial uses.
    Request Owner's contact information
    5049 Summer Ave Memphis, TN 38122
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    Memphis, TN 38122
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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
    5049 Summer Ave Memphis, TN 38122
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