2151 Central AveMemphis, TN 38104

Property Details for 2151 Central Ave

Year built

1935

Lot size

0.87 AC

Property size (Sq ft)

13,816 SF

Zone code

CMU-1

Property type

Retail properties

Property subtype

Retail space

APN

029-001- - -00020

APU

2900100020

Description

This exceptional retail investment opportunity presents a thriving 17,300 square foot shopping center located at 2151 Central Ave, Memphis, TN 38104, in the heart of Midtown Memphis. The property is currently occupied by five tenants, including Urban Outfitter, Pavo, Fox+Catvintage, and Knifebird, ensuring a diverse and stable income stream. The center operates under a NNN lease structure, minimizing landlord responsibilities. The asking price is $4,900,000, translating to a price per square foot of $283.24. The property benefits from built-in rent bumps, providing future income growth potential. Its strategic location within a vibrant and high-traffic area of Midtown Memphis guarantees consistent foot traffic and strong business performance. The presence of a Bank of America ATM further enhances the property's appeal and convenience for shoppers. This multi-tenant retail center offers a compelling investment opportunity with significant potential for long-term growth and profitability. The property's strong tenant mix and prime location make it an attractive asset for discerning investors seeking a stable and high-yielding investment in the thriving Memphis market. The Shelby County location provides access to a large and diverse customer base. This is a turnkey operation ready for immediate income generation.

• CAP approach

  CAP return

  Valuation

  6%

  $2,926,280

  6.5%

  $2,701,182

  7%

  $2,508,240

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,714,280

  Geo Method

  $2,714,280

• Alternative Use

  Use

  Valuation

  Residential

  $2,278,548

  Hospitality

  $2,087,137

  Educational

  $1,736,474

  Medical

  $1,796,194

  Retail

  $2,701,182

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1257

Longitude

-89.9902

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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