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    Property profile & analytics

    121 Union Ave Memphis, TN 38103

    • Turn key restaurants
    • 21,072 SF
    • 0.12 lot acres
    For Sale
    View listing
    $1,500,000
    Value Estimation
    Location Intelligence
    Property ID
    US80-1845597
    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

    • The Nine Authentic Thai Food / Thai Restaurant / Vegan Restaurant

    Property Details for 121 Union Ave

    Year built
    1890
    Lot size
    0.12 lot acres
    Property size
    21,072 SF
    Zone code
    CBD
    Property type
    Turn key restaurants
    APN
    002-053- - -00004
    APU
    205300004

    Description

    This exceptional ground floor retail space, located at 121 Union Avenue in the heart of downtown Memphis, Tennessee, presents a unique opportunity for a discerning tenant. Boasting a total building size of 21,072 square feet, this three-story building offers 4,941 square feet of immediately available space, perfect for a restaurant or other retail establishment. The property's prime location on Union Avenue ensures high visibility and foot traffic, making it an ideal spot to establish or expand a thriving business. The single-tenancy setup provides exclusive use of the leased area, offering complete control and customization options. The building's strategic location within the vibrant downtown Memphis area provides easy access to a diverse customer base and numerous amenities. This is a rare chance to secure a prominent space in one of Memphis' most sought-after commercial districts. The zip code is 38103. The property is categorized as retail and restaurant space. Serious inquiries are encouraged to explore this exceptional leasing opportunity. The available space is on the ground floor. This is a single-tenant space.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $410,000

    • CAP approach

      CAP return
      Estimation
      6%
      $550,000
      6.5%
      $545,000
      7%
      $550,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $635,000
      Geo Method
      $605,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $570,000
      Retail
      $690,000
      Mixed-Use
      $600,000
      Hospitality
      $590,000
      Educational
      $595,000
      Residential Income
      $615,000
      Energy
      $730,000
      Income-Based Land
      $585,000
      Food Service
      $605,000

    Location Insight

    • Map
    • Local Demand
    City
    Memphis
    County
    Shelby
    State
    Tennessee
    Longitude
    -90.053
    Latitude
    35.1427
    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
    $8,528
    $61,920
    $78,080
    $140,000
    -
    $154,800
    $195,200
    $350,000

    Comparable in this City

    • Value Estimation
      $390,000
      5,000 SF

      348 Main St

      RESTAURANT • 5,000 SF
      348 Main St, Memphis, TN 38103-1530
      View Details
    • Value Estimation
      $280,000
      13,912 SF

      147 Butler Ave

      RESTAURANT • 13,912 SF
      147 Butler Ave, Memphis, TN 38103-4399
      View Details
    • Value Estimation
      $280,000
      12,570 SF

      51 Main St

      RESTAURANT • 12,570 SF
      51 Main St, Memphis, TN 38103-5103
      View Details
    • Value Estimation by Request
      7,660 SF

      362 Main St

      RESTAURANT • 7,660 SF
      362 Main St, Memphis, TN 38103-1530
      View Details
    • Value Estimation by Request
      6,454 SF

      76 Un Ave

      RESTAURANT • 6,454 SF
      76 Un Ave, Memphis, TN 38103
      View Details
    • Value Estimation
      $890,000
      6,120 SF

      73 Monroe Ave

      RESTAURANT • 6,120 SF
      73 Monroe Ave, Memphis, TN 38103-2405
      View Details

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    121 Union Ave
    Memphis, TN 38103
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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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