For Sale
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345-365 Main StMemphis, TN 38103

High-Cap Rate, Historic Location

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 20,100 square foot restaurant portfolio situated at 345-365 S Main St, Memphis, TN 38103. The property, built in 1926 and extensively renovated in 2021, boasts a strong 83.08% occupancy rate and a compelling 7.30% capitalization rate, generating a net operating income (NOI) of $309,456. The portfolio includes several established restaurant spaces, along with multiple Airbnb units, all situated on a 0.43-acre lot. This prime location within the vibrant South Main Arts District places the property in close proximity to renowned Memphis landmarks such as the FedEx Forum, the Orpheum Theatre, and the Halloran Centre, ensuring high visibility and foot traffic. The property's blend of historical charm and modern updates, combined with its strong financial performance and desirable location, makes it an attractive investment for discerning buyers seeking a high-return opportunity in the heart of Memphis. The price per square foot is $211. This is a rare chance to acquire a well-established, income-producing property in one of Memphis's most sought-after districts. The property's diverse tenant mix and strong NOI provide a stable and reliable income stream, making it an ideal addition to any commercial real estate portfolio.

Highlights

  • 20,100 SF restaurant portfolio in Memphis, TN's South Main Arts District.
  • 83.08% occupancy and 7.30% cap rate, generating $309,456 NOI.
  • Located at 345-365 S Main St, on a 0.43-acre lot, near FedEx Forum and Orpheum Theatre.
  • Extensive renovations completed in 2021; built in 1926.
  • $211/SF; strong tenant mix providing stable income.

Property Details for 345-365 Main St

Property type
Retail properties, Restaurants
Square Feet
20,100 SF
Year Built/Renovated
1926/2021
Lot Size (sq. ft)
18,731 SF

Location Insight

City
Memphis
County
Shelby
State
Tennessee
Latitude
35.1369462
Longitude
-90.0575535
345-365 Main St, Memphis, Tennessee

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345-365 Main St
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