Property profile

495 Union Ave Memphis, TN 38103

FOR SALE
Warehouses
Property ID
US80-1841036
277,065 SF 6.49 ac lot Built 1975
Entity Owned 1-yr Hold Free & Clear
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For Sale
Contact for pricing 277,065 SF
495 Union Ave, Memphis, TN 38103
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Property summary

AI-generated overview

This exceptional opportunity presents 0.5 to 1.66 acres of cleared, developable land at 495 Union Ave., Memphis, TN, in the heart of Shelby County (zip code 38103). Boasting approximately 350 feet of street frontage on Union Avenue, this site enjoys high visibility with over 14,000 vehicles passing daily. Its strategic location provides unparalleled access to Midtown, Downtown, The Walk project, the Medical District, and the Edge District, maximizing exposure and attracting a diverse clientele. The land is zoned for commercial and residential development, making it ideal for a variety of uses, including quick-service restaurants (QSRs), retail establishments, or multifamily housing. The area's strong demographics are further supported by the presence of over 22 multifamily complexes within a three-mile radius. This rare, large-scale urban lot offers an exceptional investment opportunity with significant potential for growth and return. The land value is priced at $30 per square foot. Don't miss this chance to secure a prime location in a thriving Memphis neighborhood.

Property profile

Verified
Property type Warehouses
Use group MINI-WAREHOUSE, STORAGE
Year built 1975
Total area 277,065 SF
Lot 6.49 ac (282,617 SF)
Zoning code CBD
APN 007-006- - -00002-C
UPID US80-1841036

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Medical Clinic

Location

495 Union Ave Memphis, TN 38103
Memphis metro Census 11401 MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$12.64M
Blend (final) Blend
$3.73M

Owner & transaction history

since 2025
Last sale
$16.9M
7 recorded transactions
2025
$16.9M
2025
$4.1M
2024
$3.7M
2019
Price N/A
2018
Price N/A
2018
$2.8M
2016
Price N/A

Zoning & alternative use

CBD · Memphis, TN
Zoning description

C. CBD: Central Business District. D. CMCS: Commercial Mobile Communications Services. E. DBH: Diameter Breast Height. F. FAA: Federal Aviation Administration G. LEED: Leadership in Energy and Environmental Design. H. LU…

General category CIVIC_INSTITUTIONAL
Top alternative use upside
Neighborhood: shopping center $20.3M +73.4%
Retail stores $16.8M +43.4%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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