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Property profile & analytics
FOR SALE
Office Spaces

113 S Court Ave Memphis, TN 38103

2,857 SF 0.15 ac lot Built 2006
Entity Owned 4-yr Hold ~ Est. High Equity
Property ID
US80-1992968
Property summary
AI-generated overview

This exceptional 6,500 square foot, three-level restaurant condo is situated at 113 S. Court Ave in Memphis, Tennessee, zip code 38103. Located within the historic Kress Building on Court Square, this second-generation restaurant boasts a prime downtown location with high foot traffic and walkability. The property features a ground floor restaurant space, a mezzanine level, and a basement complete with a fully equipped bar. The 6,650 square foot lot includes convenient front door parking. This unique layout offers a significant advantage, and the property is part of a commercial condo association with HOA fees covering only the restaurant space. The asking price is $675,000, and the occupancy date is May 15, 2024. This turnkey opportunity presents a rare chance to establish or expand a culinary business in the vibrant heart of Memphis, benefiting from the area's strong tourism and local clientele. The stunning views of Court Square further enhance the property's appeal and potential for success. This is an exceptional investment prospect in a highly desirable location.

Property profile
Verified
Property type Office Spaces
Use group CONDOMINIUM OFFICES
Year built 2006
Total area 2,857 SF
Lot 0.15 ac (6,665 SF)
Zoning code CBD
APN 002-015- -B-00009
UPID US80-1992968
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Bells Soul Food & Exquisite Catering Co. Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$550k
CAP Approach CAP
$715k
Comparable Approach Comparable
$456k
Blend (final) Blend
$625k
Owner & transaction history
Landmark Commercial LLC · 4 yrs held
Landmark Commercial LLC
since 2022
Last sale
$800,000
1 recorded transaction
2022
$800,000
Zoning & alternative use
CBD · Memphis, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building $410,000 +40.6%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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