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    Property profile & analytics

    2877 Lamar Ave Memphis, TN 38114

    • Retail space
    • 16,566 SF
    • 2.50 lot acres
    For Sale
    View listing
    Value Estimation
    Location Intelligence
    Property ID
    US80-1136150
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 2877 Lamar Ave

    Year built
    2007
    Lot size
    2.50 lot acres
    Property size
    16,566 SF
    Zone code
    CMU-3
    Property type
    Retail space
    APN
    059-021- - -00049
    APU
    5902100049

    Description

    This exceptional investment opportunity presents a 16,706-square-foot, single-story grocery store building located at 2877 Lamar Avenue in Memphis, Tennessee. Constructed in 2007, this free-standing structure sits on a highly visible corner lot at the southwest corner of Lamar Avenue and Dunn Avenue, offering excellent street frontage and exposure. Its convenient location is just 0.77 miles north of Interstate 240, ensuring high traffic volume and accessibility for customers. The property is currently vacant, allowing for immediate possession and customization to suit a new tenant's needs. Complete building plans are readily available for review. The property's single-level design optimizes functionality and ease of operation. This is an ideal opportunity for investors seeking a well-located, sizable retail space in a thriving Memphis market. The building's size and location make it suitable for a variety of grocery or retail uses. The property is situated in Shelby County, Tennessee, with a zip code of 38114. This turnkey property offers immediate occupancy and significant potential for return on investment.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $480,000

    • CAP approach

      CAP return
      Estimation
      6%
      $710,000
      6.5%
      $700,000
      7%
      $710,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $635,000
      Geo Method
      $735,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $570,000
      Retail
      $675,000
      Mixed-Use
      $720,000
      Hospitality
      $535,000
      Educational
      $545,000
      Residential Income
      $570,000
      Energy
      $695,000
      Income-Based Land
      $660,000
      Food Service
      $605,000

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.9672
    Latitude
    35.0909
    CBSA code
    32820
    CBSA name
    MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $44,978
    $147,520
    $590,840
    $738,360
    -
    $368,800
    $1,477,100
    $1,845,900

    Comparable in this City

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    • Value Estimation by Request
      1,120 SF

      1706 Lamar Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,120 SF
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      View Details

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    Similar Nearby for Lease

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      4,578 SF

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    • $8 SF/Yr
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      2,500 SF

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      2,400 SF

      Lamar Ave Retail Space For Lease

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    • Contact for pricing

      Lamar Avenue Retail Space Available

      Neighborhood shopping center with spaces and outparcel for lease.
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    2877 Lamar Ave
    Memphis, TN 38114
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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