2926 Lamar Ave Memphis, TN 38114
Property Lookup
Property profile & analytics
2926 Lamar Ave Memphis, TN 38114
- Strip malls
- 64,835 SF
- 9.56 lot acres
Property ID
US80-3295226
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.
Location Intelligence
Current Use by Public Records
- Powers James E CPA / Accounting Firm / Tax Preparation
- Cute Nails / Nail Salon
- Advanced Wireless / Mobile Phone Store / Electronics & Wireless Store
- Soul Lucions / Restaurant
- DaVita Lamar Crossing Dialysis / Medical Clinic
Property Details for 2926 Lamar Ave
- Year built
- 2006
- Lot size
- 9.56 lot acres
- Property size
- 64,835 SF
- Zone code
- CMU-3
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- 059-016- -A-00002
- APU
- 059016A00002
Description
This exceptional 64,800 square foot shopping center in Memphis, Tennessee, presents a compelling investment opportunity. Built in 2006, the single-story, one-building property sits on a 9.55-acre lot and boasts a strong 87.41% occupancy rate. The asking price is $6,330,000, representing a compelling 8.50% capitalization rate and a price per square foot of $97.69. The property generates a Net Operating Income (NOI) of $538,040. Located at 2926 Lamar Ave, Memphis, TN 38114, this strategically positioned center benefits from high visibility and traffic counts exceeding 140,000 vehicles per day due to its proximity to I-240. The property features ample parking (4.49 spaces per 1,000 sq ft) and is zoned CMU-1: Commercial Mixed Use. The tenant roster includes a mix of national brands, many of whom have occupied the space for over 13.5 years on average, providing stability and long-term income potential. The strong demographics of the surrounding area, with a population exceeding 95,000 within a 3-mile radius and an average household income nearing $76,000, further enhance the investment appeal. Value-add opportunities exist through potential lease rate adjustments and possible outlot development. The property's superior curb appeal and limited recent construction in the immediate area solidify its position as a premier retail destination along Lamar Avenue. APN: 0590160A000020.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $8,621,000
- AI Estimate
- $4,309,000
Market price range: $2.07M - $8.62MMarket price range: $1.71M - $4.31M -
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $4,760,000 Current use
- MEDICAL BUILDING
- $9,275,000 Change: +95% Conversion: Difficult
- OFFICE BUILDING
- $7,735,000 Change: +62% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $6,285,000 Change: +32% Conversion: Difficult
- RETAIL STORES
- $5,380,000 Change: +13% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $4,110,000 Change: -14% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $3,915,000 Change: -18% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Longitude
- -89.9631
- Latitude
- 35.0891
- 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
$157,481
$426,960
$2,158,240
$2,585,200
-
$1,067,400
$5,395,600
$6,463,000
