1448 Madison Ave Memphis, TN 38104-6313
This three-story, 4,842-square-foot office building, located at 1448 Madison Ave in Memphis, Tennessee, presents a unique investment opportunity. Built in 1900 and extensively renovated between 2017 and 2022, the property boasts a distinctive gray stone exterior and beautifully preserved woodwork, complemented by contemporary interiors. The building is currently vacant and zoned CMU-1, offering flexibility for various uses, including executive, medical, or traditional office space. Features include a glassed-in conference room, hardwood flooring, attractive wood trim, updated bathrooms, a second-story deck, and a sizable parking lot—a rare find in the Midtown area. The 0.394-acre lot provides ample space, and the building's prime location offers excellent access to downtown Memphis. The property's versatile layout includes a reception area and up to seven individual offices, making it suitable for a range of professional businesses. This building combines the allure of historic Memphis architecture with the functionality of modern professional upgrades, presenting a compelling opportunity for discerning investors. The property's APN is 017022 00015.
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White Star Inc. Accounting Firm Tax Preparation
3. Commercial Mixed Use - 3 (CMU-3) The CMU -3 District is intended to accommodate a very broad range of high intensity commercial, office and employment uses that require highly visible and highly accessible locations with direct access to arterials. Residential uses are allowed on the ground floor but upper -story units are encouraged. Typical uses in this…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
CMU-3 · Memphis, TN3. Commercial Mixed Use - 3 (CMU-3) The CMU -3 District is intended to accommodate a very broad range of high intensity commercial, office and employment uses that require highly visible and highly accessible locations with direct access to arterials. Residential uses are allowed on the ground floor but upper -story units are encouraged. Typical uses in this district serve regional needs. The permitted uses are generally uses not of a neighborhood or general commercial type, but serve large areas of the City and County. 2.2.4 District Intent Statements Article 2 Districts and Uses 2.2.4 Predominantly Industrial Districts Memphis/Shelby County Unified Development Code 16 ZTA 24-2 E. Central Business (CBD) The CBD District is intended to accommodate high -intensity office, employment and residential uses within downtown. The district regulations recognize and support downtown's role as a center of regional importance and as a primary hub for business, communications, office, living, government, retail, cultural, educational, visitor accommodations, and entertainment. The district promotes vertical mixed -use (residential/nonresidential) projects that contain active ground- floor uses. F. Campus Master Plan (CMP-) The campus master plan districts are intended to accommodate office, research and development, residential, light manufacturing and processing uses and other campus-like developments, such as hospitals, colleges and universities, allowing for clustering opportunities that h elp improve overall efficiency. Limited retail, restaurant and commercial uses are allowed, however, such uses are primarily for the convenience of employees or users of the campus. 1. Campus Master Plan - 1 (CMP-1) The CMP-1 District is intended to accommodate new development where the land -use pattern is predominately urban in character. New development should be urban in character with an emphasis on compact, vertical, pedestrian-oriented, mixed use development that fit seamlessly into the built environment. Landscaping requirements are reduced and buildings are pulled up much closer to the street. 2. Campus Master Plan - 2 (CMP-2) The CMP-2 District is intended to accommodate new development where the land -use pattern is predominately suburban in character or where such a land use pattern is desired in the future. New development should be suburban in character with an emphasis on low -rise buildings that blend flawlessly into the natural environment. Landscaping requirements are significant and development patterns are characterized by deep, gracious setbacks.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
