2320 Lamar Ave Memphis, TN 38114
- Strip malls
- 4,866 SF
- 0.14 lot acres
Current Use by Public Records
- All Memphis Same Day Flower Delivery / Florist
Property Details for 2320 Lamar Ave
- Year built
- 1932
- Lot size
- 0.14 lot acres
- Property size
- 4,866 SF
- Zone code
- CMU-3
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 047-022- - -00002
- APU
- 4702200002
Description
This exceptional 2,400 square foot retail space is ideally situated at the highly visible corner of Lamar Avenue and Airways Boulevard in Shelby County. The property offers a single-tenant occupancy, perfect for a variety of retail or restaurant concepts. The building boasts recently added parking directly in front, ensuring convenient access for customers. This prime location benefits from significant traffic volume, with Lamar Avenue boasting an average annual daily traffic (AADT) of 25,819 vehicles and Airways Boulevard registering an AADT of 24,165 vehicles. The signalized intersection provides excellent visibility and accessibility. The entire 2,400 square feet is currently vacant and ready for immediate occupancy. This presents a unique opportunity for a business seeking a high-traffic location with ample parking in a thriving area. The property's strategic placement at a busy intersection guarantees significant exposure to potential customers, making it an ideal investment for a business looking to establish a strong presence in a high-traffic area. The space is classified as retail, suitable for a wide range of businesses. The single-tenant occupancy provides flexibility and control. Don't miss this chance to secure a prominent retail location in a prime commercial area.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $195,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $240,000
- 6.5%
- $250,000
- 7%
- $250,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $255,000
- Geo Method
- $295,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $285,000
- Retail
- $250,000
- Mixed-Use
- $260,000
- Hospitality
- $235,000
- Educational
- $270,000
- Residential Income
- $275,000
- Energy
- $275,000
- Income-Based Land
- $275,000
- Food Service
- $240,000
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.9853
- Latitude
- 35.1054
- CBSA code
- 32820
- CBSA name
- MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA