Entity Owned Property summary
This exceptional 4,183 square foot former bank branch, situated on a 0.96-acre lot in Shelby County's East Retail submarket, presents a unique opportunity. The single-story, Class B building, constructed in 1974, boasts a prime location at a hard corner on Summer Avenue, offering excellent visibility and accessibility. The property features a two-lane drive-thru, 37 parking spaces, and is zoned CMU-3, allowing for a variety of commercial uses including office, retail, and medical. Its strategic location across from three shopping centers with national tenants, and within five miles of the University of Memphis, government buildings, and major interstates (I-40 and I-240), ensures high traffic counts (25,800 vehicles daily). The property is currently vacant and available for lease, offering the flexibility to renovate the existing structure or build to suit. The property's strong co-tenancy, high visibility, and convenient location make it an ideal investment for businesses seeking a prominent presence in a thriving Memphis market. Annual property taxes are $3.45 per square foot. The APN is 06-3058-0-0008.
Property profile
VerifiedCap rate & NOI
Current use
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Atm
Location
Value estimations
Owner & transaction history
Zoning & alternative use
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 w…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2022Property 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 w…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
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 w…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CMU-3 in Memphis, TN.
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