2320 Lamar AveMemphis, TN 38114

Property Details for 2320 Lamar Ave

Year built

1932

Lot size

0.14 AC

Property size (Sq ft)

4,866 SF

Zone code

CMU-3

Property type

Retail properties

Property subtype

Strip malls

APN

047-022- - -00002

APU

4702200002

Description

This exceptional 2,400 square foot retail space is ideally situated at the highly visible corner of Lamar Avenue and Airways Boulevard in Shelby County. The property offers a single-tenant occupancy, perfect for a variety of retail or restaurant concepts. The building boasts recently added parking directly in front, ensuring convenient access for customers. This prime location benefits from significant traffic volume, with Lamar Avenue boasting an average annual daily traffic (AADT) of 25,819 vehicles and Airways Boulevard registering an AADT of 24,165 vehicles. The signalized intersection provides excellent visibility and accessibility. The entire 2,400 square feet is currently vacant and ready for immediate occupancy. This presents a unique opportunity for a business seeking a high-traffic location with ample parking in a thriving area. The property's strategic placement at a busy intersection guarantees significant exposure to potential customers, making it an ideal investment for a business looking to establish a strong presence in a high-traffic area. The space is classified as retail, suitable for a wide range of businesses. The single-tenant occupancy provides flexibility and control. Don't miss this chance to secure a prominent retail location in a prime commercial area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,030,637

  6.5%

  $951,357

  7%

  $883,403

• Comparable approach

  Method

  Valuation

  Relative Method

  $955,970

  Geo Method

  $955,970

• Alternative Use

  Use

  Valuation

  Residential

  $802,505

  Hospitality

  $735,090

  Educational

  $611,587

  Medical

  $632,620

  Retail

  $951,357

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1054

Longitude

-89.9853

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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