2877 Lamar AveMemphis, TN 38114

Property Details for 2877 Lamar Ave

Year built

2007

Lot size

2.50 AC

Property size (Sq ft)

16,566 SF

Zone code

CMU-3

Property type

Retail properties

Property subtype

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.

• CAP approach

  CAP return

  Valuation

  6%

  $3,508,740

  6.5%

  $3,238,837

  7%

  $3,007,492

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,254,543

  Geo Method

  $3,254,543

• Alternative Use

  Use

  Valuation

  Residential

  $2,732,080

  Hospitality

  $2,502,571

  Educational

  $2,082,110

  Medical

  $2,153,716

  Retail

  $3,238,837

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.0909

Longitude

-89.9672

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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