Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    903 3Rd St Memphis, TN 38106

    Sponsored
    For Sale
    $279,000

    Prime corner lot, redevelopment potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 0.846-acre corner lot at 903 S 3rd St, Memphis, TN 38106 presents a unique investment opportunity. The property boasts significant frontage: approximately 228 feet along South Third Street and 179 feet deep on Gilbert Street. The existing building, constructed in 1920 and classified as Class D, is currently occupied by month-to-month tenants and is being sold "as is," making it ideal for redevelopment or land use projects. The property is zoned CMU1, offering flexibility for various commercial ventures. The asking price is $279,000. This prime location in Shelby County offers high visibility and accessibility, making it an attractive proposition for investors seeking a high-impact project in a vibrant urban setting. The parcel number is 013007 00010. This is a rare chance to acquire a substantial piece of Memphis real estate with significant redevelopment potential. The property's size and location make it a compelling investment for those seeking to capitalize on the growth and dynamism of the Memphis market.

    Property Features for 903 3Rd St

    General Information

    Property type
    Individual retail properties
    Class
    D
    Lot Size
    36,852 SF

    Building Details

    Year Built
    1920
    Buildings
    1

    HighLights

    • $279,000 asking price.
    • Class D retail storefront.
    • 1920 construction, one building on a 0.846‑acre lot.
    • Located at 903 S 3rd St, Memphis, TN 38106 (APN: 013007 00010).
    • CMU1 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.0553959
    Latitude
    35.1224618

    Nearby Similar for Sale

    • $2,750,000

      Ashlar Hall: Memphis' Castle

      Historic landmark ideal for events or private estate in Memphis.
      1397 Central Ave, Memphis, TN 38104
      View Details
    • New
      $399,800

      Memphis Fourplex Near Union Station

      Charming, fully leased fourplex near development, great investment opportunity.
      1009 Rozelle St, Memphis, TN 38114
      View Details
    • $625,000

      Remodeled Office Space in Memphis

      Two-story commercial office space in excellent condition, convenient location.
      152 N Tucker St, Memphis, TN 38104
      View Details
    • $250,000

      Frayser Bauhaus: Live/Work Opportunity

      Unique live/work space or business location in Memphis, Tennessee.
      3590 Thomas St, Memphis, TN 38127
      View Details
    • $300,000

      Former Bank Office with Warehouse

      Spacious office and warehouse with fenced lot and ample parking.
      1189 Breedlove St, Memphis, TN 38107
      View Details
    • $460,750

      Memphis Triplex Investment Opportunity

      Triplex with three units, income potential, convenient location.
      2006 Felix Ave, Memphis, TN 38104
      View Details
    • $424,900

      Mixed-Use Condo in Memphis, TN

      Versatile condo with office, business, and residential spaces combined.
      95 S Main St, Memphis, TN 38103
      View Details
    • $795,000

      Memphis Commercial Space on Lamar

      High-traffic commercial space suitable for restaurant, retail, or entertainment.
      2802 Lamar Ave, Memphis, TN 38114
      View Details
    • $849,000

      Memphis Industrial Facility For Sale

      Industrial facility suitable for manufacturing, distribution, or warehousing.
      3325 Millbranch Rd, Memphis, TN 38116
      View Details
    • $325,000

      Mixed-Use Property in Cooper Young

      Commercial and residential space in the heart of Cooper Young.
      2282 Central Ave, Memphis, TN 38104
      View Details
    • $475,000

      Versatile Religious Facility Near New School

      Multi-building campus ideal for worship, education, and community programs.
      3171 Signal St, Memphis, TN 38127
      View Details
    • $175,000

      Memphis Commercial Property on Elvis Presley

      High-visibility commercial property on Elvis Presley Blvd in Memphis.
      2435 Blakemore Rd, Memphis, TN 38106
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Prime corner lot, redevelopment potential.
    Where is this individual retail property located?
    The property is located at 903 3Rd St Memphis, TN.
    What is the asking price?
    The asking price for this property is $279,000.
    What are key features of this property?
    This property features: $279,000 asking price.; Class D retail storefront.; 1920 construction, one building on a 0.846-acre lot.
    Request Owner's contact information
    903 3Rd St Memphis, TN 38106
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    903 3Rd St
    Memphis, TN 38106
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    903 3Rd St Memphis, TN 38106
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.