2129 Central Ave Memphis, TN 38104-5443
- Retail space
- 6,324 SF
- 0.11 lot acres
Current Use by Public Records
- Paul Edelstein / Art Gallery
- Premium Parking - P2765 / Parking Lot
- lululemon / Sportswear Store / Children'S Clothing Store
Property Details for 2129 Central Ave
- Year built
- 1909
- Lot size
- 0.11 lot acres
- Property size
- 6,324 SF
- Zone code
- CMU-1
- Property type
- Retail space
- APN
- 031-136- - -00007
- APU
- 3113600007
Description
This exceptional Class A creative office building, totaling 5,520 square feet, is ideally situated at the corner of Cooper Street and Central Avenue, serving as a prominent gateway to the vibrant Cooper Young entertainment district in the heart of Midtown Memphis. The building boasts two available suites, offering flexible space options ranging from 1,206 to 1,306 contiguous square feet. A total of 2,512 square feet is currently vacant and ready for immediate occupancy. The property features a unique advantage: dedicated parking in the rear, a rare find in this desirable location. The building's two levels offer ground floor retail space with the potential for second-floor office use. Furthermore, the building presents a high-impact billboard opportunity, capitalizing on the substantial traffic flow into the Cooper Young district. This thriving area is home to a diverse range of established businesses, including Urban Outfitters, Aldo's Pizza Pies, Railgarten, Central BBQ, Cafe Palladio, Memphis Made Brewing Co, Knife Bird Wine Bar, Hattie B's, Cycle Bar, Otherlands Coffee Bar, a juice bar, Cafe 1912, Slider Inn, a farmers market, Bari Ristorante, CVS, Five Guys, Applebee's, The Memphian Hotel, and Lenny's, among many others. This presents a unique opportunity to establish a presence in a bustling and highly sought-after Memphis neighborhood within Shelby County.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,050,000
- 6.5%
- $970,000
- 7%
- $900,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $736,000
- AI Estimate
- $559,000
Market price range: $363k - $1.13MMarket price range: $254k - $871k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $760,000 Current use
- RESTAURANT
- $1,015,000 Change: +33% Conversion: Easy
- MEDICAL BUILDING
- $905,000 Change: +19% Conversion: Difficult
- OFFICE BUILDING
- $715,000 Change: -6% Conversion: Easy
- AUTO REPAIR, GARAGE
- $615,000 Change: -20% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.9909
- Latitude
- 35.1258
- CBSA code
- 32820
- CBSA name
- MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA