2723 Mendenhall RdMemphis, TN 38115

Property Details for 2723 Mendenhall Rd

Year built

1993

Lot size

0.98 AC

Property size (Sq ft)

2,438 SF

Zone code

CMU-3

Property type

Retail properties

Property subtype

Other automotive properties

APN

074-001- -A-00003

APU

074001A00003

Description

This exceptional 2,462 square foot flex space, situated on a one-acre lot at 2723 S Mendenhall Rd in Memphis, Tennessee (zip code 38115), presents a compelling investment opportunity. Previously utilized as a car lot, the property's zoning permits a wide range of commercial ventures. The building boasts multiple private offices, making it suitable for businesses requiring both open and private work areas. Its prime location at a hard-lighted corner, fronting both Mendenhall Road and Fox Plaza Drive, ensures high visibility and accessibility. Ample parking is available, with over 150 spaces accommodating customers, employees, and inventory. Security features include a guard rail and chain link fence, providing peace of mind. The property also benefits from prominent monument signage, enhancing its marketing potential. The asking price for this freestanding building is $595,000. This versatile property is well-suited for a variety of uses, including but not limited to quick-service restaurants (QSRs), auto detail shops, and car rental agencies. Don't miss this chance to acquire a highly visible and functional commercial space in a thriving Memphis location.

• CAP approach

  CAP return

  Valuation

  6%

  $516,377

  6.5%

  $476,656

  7%

  $442,609

• Comparable approach

  Method

  Valuation

  Relative Method

  $478,968

  Geo Method

  $478,968

• Alternative Use

  Use

  Valuation

  Residential

  $402,077

  Hospitality

  $368,301

  Educational

  $306,422

  Medical

  $316,960

  Retail

  $476,656

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.0742

Longitude

-89.8854

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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