2202 Central AveMemphis, TN 38104

Property Details for 2202 Central Ave

Year built

1920

Lot size

0.11 AC

Property size (Sq ft)

1,703 SF

Zone code

CMU-1

Property type

Retail properties

Property subtype

Retail space

APN

028-015- - -00011

APU

2801500011

Description

This exceptional 1,703 square foot executive office space, located at 2202 Central Avenue in Memphis, Tennessee, presents a unique investment opportunity. Situated on a 0.11-acre lot in the 38104 zip code, this property boasts a rich history, having previously served as a book and music store. Built in 1920, the building benefits from a new roof installed in 2021, ensuring long-term structural integrity. The property is zoned CMU-1, offering flexibility for various commercial uses. A key feature is the large front bay windows, providing ample natural light and enhancing the aesthetic appeal. The property also includes a fenced rear parking area, offering convenient parking for staff and clients. A prominent pole sign provides excellent visibility from the street, enhancing the property's marketing potential. The asking price for this well-maintained and strategically located commercial property is $300,000. This is an ideal opportunity for businesses seeking a distinctive and functional office space in a vibrant Memphis location.

• CAP approach

  CAP return

  Valuation

  6%

  $360,702

  6.5%

  $332,955

  7%

  $309,173

• Comparable approach

  Method

  Valuation

  Relative Method

  $334,570

  Geo Method

  $334,570

• Alternative Use

  Use

  Valuation

  Residential

  $280,860

  Hospitality

  $257,267

  Educational

  $214,043

  Medical

  $221,404

  Retail

  $332,955

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1262

Longitude

-89.9886

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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