113 Court AveMemphis, TN 38103

Property Details for 113 Court Ave

Year built

2006

Lot size

0.15 AC

Property size (Sq ft)

2,857 SF

Zone code

CBD

Property type

Office properties

Property subtype

Other office properties

APN

002-015- -B-00009

APU

002015B00009

Description

This exceptional 6,500 square foot, three-level restaurant condo is situated at 113 S. Court Ave in Memphis, Tennessee, zip code 38103. Located within the historic Kress Building on Court Square, this second-generation restaurant boasts a prime downtown location with high foot traffic and walkability. The property features a ground floor restaurant space, a mezzanine level, and a basement complete with a fully equipped bar. The 6,650 square foot lot includes convenient front door parking. This unique layout offers a significant advantage, and the property is part of a commercial condo association with HOA fees covering only the restaurant space. The asking price is $675,000, and the occupancy date is May 15, 2024. This turnkey opportunity presents a rare chance to establish or expand a culinary business in the vibrant heart of Memphis, benefiting from the area's strong tourism and local clientele. The stunning views of Court Square further enhance the property's appeal and potential for success. This is an exceptional investment prospect in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $411,648

  6.5%

  $379,983

  7%

  $352,842

• Comparable approach

  Method

  Valuation

  Relative Method

  $222,732

  Geo Method

  $222,732

• Alternative Use

  Use

  Valuation

  Residential

  $471,179

  Hospitality

  $431,598

  Educational

  $359,084

  Medical

  $371,434

  Retail

  $558,575

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1454

Longitude

-90.0522

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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