3620 Lamar AveMemphis, TN 38118

Property Details for 3620 Lamar Ave

Year built

1987

Lot size

1.50 AC

Property size (Sq ft)

14,180 SF

Zone code

CMU-3

Property type

Retail properties

Property subtype

Auto shops

APN

073-015- - -00001

APU

7301500001

Description

Lamar Center offers a highly desirable 4,000 square foot end-cap flex space, perfect for a variety of manufacturing, automotive, or flex uses. This retail and industrial property boasts an excellent location, making it an anchor location for any business. The space is currently available for lease and features four roll-up doors, providing convenient access for loading and unloading. The unit is in excellent condition and is situated in a highly desirable corner location. The lease rate includes a proportional share of utilities, offering predictable and manageable operating costs. The space is part of a multi-tenant building, providing a collaborative and vibrant business environment. With its strategic location, ample space, and excellent condition, this property presents a unique opportunity for businesses seeking a functional and well-maintained space. The 4,000 square feet is the maximum contiguous space available. Interested parties should inquire about lease terms and conditions. This is a rare opportunity to secure a prime flex space in a highly sought-after location.

• CAP approach

  CAP return

  Valuation

  6%

  $3,003,376

  6.5%

  $2,772,348

  7%

  $2,574,323

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,785,792

  Geo Method

  $2,785,792

• Alternative Use

  Use

  Valuation

  Residential

  $2,338,579

  Hospitality

  $2,142,126

  Educational

  $1,782,223

  Medical

  $1,843,517

  Retail

  $2,772,348

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.067

Longitude

-89.942

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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