1924 Hearst AveMemphis, TN 38114

Property Details for 1924 Hearst Ave

Year built

1954

Lot size

0.19 AC

Property size (Sq ft)

1,984 SF

Zone code

CMU-1

Property type

Retail properties

Property subtype

Other individual retail properties

APN

060-107- - -00074

APU

6010700074

Description

This exceptional Memphis commercial property, located at 1924 Hearst Ave, presents a unique investment opportunity. The single-story building, constructed in 1954, sits on a sizable 8,524 square foot (0.2-acre) lot in the CMU-1 zoned area of Shelby County, TN, zip code 38114. The property features ample parking with 15 spaces, ensuring convenient customer access. Ideal for a quick-service restaurant (QSR) or convenience store, this location benefits from high visibility and significant foot traffic within a thriving commercial district. Recent upgrades include a new 2-ton HVAC system, updated plumbing and electrical systems, a new roof, and a new hot water heater, minimizing immediate capital expenditure needs for the new owner. The asking price is $175,000. This property offers a strong foundation for a successful business venture, combining a desirable location with recently completed renovations. The property's size and zoning make it suitable for a variety of uses within the QSR and convenience store categories. Don't miss this chance to acquire a well-maintained, high-traffic commercial property in a prime Memphis location. Contact us today to schedule a viewing.

• CAP approach

  CAP return

  Valuation

  6%

  $420,219

  6.5%

  $387,894

  7%

  $360,187

• Comparable approach

  Method

  Valuation

  Relative Method

  $389,775

  Geo Method

  $389,775

• Alternative Use

  Use

  Valuation

  Residential

  $327,203

  Hospitality

  $299,716

  Educational

  $249,360

  Medical

  $257,936

  Retail

  $387,894

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.0965

Longitude

-89.9987

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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