2129 Central AveMemphis, TN 38104

Property Details for 2129 Central Ave

Year built

1909

Lot size

0.11 AC

Property size (Sq ft)

6,324 SF

Zone code

CMU-1

Property type

Retail properties

Property subtype

Retail space

APN

031-136- - -00007

APU

3113600007

Description

This exceptional Class A creative office building, totaling 5,520 square feet, is ideally situated at the corner of Cooper Street and Central Avenue, serving as a prominent gateway to the vibrant Cooper Young entertainment district in the heart of Midtown Memphis. The building boasts two available suites, offering flexible space options ranging from 1,206 to 1,306 contiguous square feet. A total of 2,512 square feet is currently vacant and ready for immediate occupancy. The property features a unique advantage: dedicated parking in the rear, a rare find in this desirable location. The building's two levels offer ground floor retail space with the potential for second-floor office use. Furthermore, the building presents a high-impact billboard opportunity, capitalizing on the substantial traffic flow into the Cooper Young district. This thriving area is home to a diverse range of established businesses, including Urban Outfitters, Aldo's Pizza Pies, Railgarten, Central BBQ, Cafe Palladio, Memphis Made Brewing Co, Knife Bird Wine Bar, Hattie B's, Cycle Bar, Otherlands Coffee Bar, a juice bar, Cafe 1912, Slider Inn, a farmers market, Bari Ristorante, CVS, Five Guys, Applebee's, The Memphian Hotel, and Lenny's, among many others. This presents a unique opportunity to establish a presence in a bustling and highly sought-after Memphis neighborhood within Shelby County.

• CAP approach

  CAP return

  Valuation

  6%

  $1,339,447

  6.5%

  $1,236,412

  7%

  $1,148,097

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,242,408

  Geo Method

  $1,242,408

• Alternative Use

  Use

  Valuation

  Residential

  $1,042,960

  Hospitality

  $955,346

  Educational

  $794,836

  Medical

  $822,172

  Retail

  $1,236,412

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1258

Longitude

-89.9909

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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