247 Cleveland St Memphis, TN 38104

Property Details for 247 Cleveland St

Year built

1950

Lot size

0.39 lot acres

Property size

4,840 SF

Zone code

CMU-3

Property type

Retail space

APN

020-024- - -00012

APU

2002400012

Description

This exceptional 4,840-square-foot retail building is situated at 247 N Cleveland St, Memphis, TN 38104, on a 0.38-acre lot. The property boasts approximately 105 feet of frontage on North Cleveland Street, offering unparalleled visibility. Located in a prime Midtown retail district, it benefits from its proximity to the $250 million Crosstown Concourse redevelopment, a major local destination. The building is vacant and presents a unique owner-user opportunity. The asking price is $695,000, translating to $143.60 per square foot. The property includes a rare, larger-than-average parking lot for the area, a significant advantage in this location. Zoned CMU-3, this versatile space is suitable for a variety of uses, including bar, grocery store, or quick-service restaurant (QSR), as indicated by its permitted subtypes. The established corporate trade area and the ongoing development in the 38104 zip code promise continued growth and high traffic. Its location across from a Kroger store ensures high visibility and accessibility. This is a rare opportunity to acquire a substantial retail property in a rapidly developing area of Memphis.