345-365 Main St Memphis, TN 38103
- Retail properties
- 20,100 SF
- 0.43 lot acres
Current Use by Public Records
- Retail properties
Property Details for 345-365 Main St
- Year built
- 1926
- Lot size
- 0.43 lot acres
- Property size
- 20,100 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a 20,100 square foot restaurant portfolio situated at 345-365 S Main St, Memphis, TN 38103. The property, built in 1926 and extensively renovated in 2021, boasts a strong 83.08% occupancy rate and a compelling 7.30% capitalization rate, generating a net operating income (NOI) of $309,456. The portfolio includes several established restaurant spaces, along with multiple Airbnb units, all situated on a 0.43-acre lot. This prime location within the vibrant South Main Arts District places the property in close proximity to renowned Memphis landmarks such as the FedEx Forum, the Orpheum Theatre, and the Halloran Centre, ensuring high visibility and foot traffic. The property's blend of historical charm and modern updates, combined with its strong financial performance and desirable location, makes it an attractive investment for discerning buyers seeking a high-return opportunity in the heart of Memphis. The price per square foot is $211. This is a rare chance to acquire a well-established, income-producing property in one of Memphis's most sought-after districts. The property's diverse tenant mix and strong NOI provide a stable and reliable income stream, making it an ideal addition to any commercial real estate portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -90.0576
- Latitude
- 35.1369
