Fully Renovated Mixed-Use
981 Cooper St Memphis, TN 38104
981 Cooper St, Memphis, TN, 38104
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For Sale
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Fully renovated 4,000 SF property offers flexible retail, restaurant, or office space with on-site secured parking.
Property Size4,000 SF
Price / SF$325
Days on Market119
Property Features for 981 Cooper St
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Property subtype
- Office, Retail
Listing agency
NAI Saig Company
(901) 526-3100
Listed by
Jeff Higdon · License #TN 282661
Source
Crexi
Added: Mar 25 Updated: Jul 20 at 7:19PM Checked: Jul 20 at 7:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Saig Company
Investment Insights
Based on property information with market context.
This fully renovated 4,000 SF property offers a turnkey interior with modern systems and finishes, suited for retail, restaurant, or office use. The efficient layout is described as adaptable for a range of concepts, including kitchen and bar setups, as well as indoor and outdoor seating approaches.
Located in the Cooper-Young Historic District, the property includes on-site secured parking, an amenity highlighted as particularly valuable in the Cooper Young area. The offering is positioned as a premier urban Memphis location for owner-users or investors.
Because the recent updates and configuration are intended to reduce buildout time and cost, the space is presented as ready for an operator seeking a fast start while retaining flexibility for either hospitality-oriented programming or traditional commercial use.
Located in the Cooper-Young Historic District, the property includes on-site secured parking, an amenity highlighted as particularly valuable in the Cooper Young area. The offering is positioned as a premier urban Memphis location for owner-users or investors.
Because the recent updates and configuration are intended to reduce buildout time and cost, the space is presented as ready for an operator seeking a fast start while retaining flexibility for either hospitality-oriented programming or traditional commercial use.
Key Highlights
- 4,000 SF fully renovated retail/restaurant/office space
- Fully renovated in 2022 with modern systems and finishes
- Flexible layout adaptable for kitchen, bar, and indoor/outdoor seating concepts
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.0k | $24.00 |
| − Vacancy | −$14.4k | −$3.60 |
| EGI | $81.6k | $20.40 |
| − OpEx | −$20.4k | −$5.10 |
| NOI | $61.2k | $15.30 |
4,000 SF · lease $24.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$874.3K
$765.0K – $1.02M
NOI $61,200 @ 7.0% cap · market cap 4.71%
Second Best
Specialty Retail
$687.6K
$601.7K – $802.2K
NOI $48,132 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,752 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
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FAQs
What type of property is this?
Retail space - Fully renovated 4,000 SF property offers flexible retail, restaurant, or office space with on-site secured parking.
Where is this retail space located?
The property is located at 981 Cooper St Memphis, TN.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 4,000 SF fully renovated retail/restaurant/office space; Fully renovated in 2022 with modern systems and finishes; Flexible layout adaptable for kitchen, bar, and indoor/outdoor seating concepts
