339 Madison AveMemphis, TN 38103

Property Details for 339 Madison Ave

Year built

1923

Lot size

0.09 AC

Property size (Sq ft)

10,021 SF

Zone code

SE

Property type

Retail properties

Property subtype

Retail space

APN

005-001- - -00008

APU

500100008

Description

This exceptional 10,571 square foot mixed-use property, located at 339 Madison Ave in Memphis, Tennessee's vibrant EDGE District, presents a unique investment and owner-user opportunity. Built in 1923 and extensively renovated between 2014 and 2023, this Class B building boasts two stories and sits on a 0.13-acre lot. The property features multiple floor plans, including two kitchens, four bedrooms, and 2.5 bathrooms. The interior showcases a blend of historic charm and modern updates, with exquisite wood, intricate tile work, and open floor plans offering versatile creative space. Currently zoned SE, the building's ground floor retail space is leased, providing immediate income potential for an owner-user. Its prime location within the EDGE District, bordering the Medical District and Midtown, places it at the heart of Memphis's burgeoning redevelopment, benefiting from proximity to significant ongoing investments, including a planned $3 billion in new Medical District developments, the recently completed Downtown Malco Theater, and other major projects. The property's walkability and proximity to amenities make it an ideal live-work space. The asking price is $969,000, with a price per square foot of $91.67. This presents a compelling investment opportunity with strong long-term potential in a rapidly growing area, offering convenient access to FedEx Forum and Redbirds Stadium. The surrounding area boasts a significant population density: 14,020 within one mile, 84,479 within three miles, and 157,068 within five miles.

• CAP approach

  CAP return

  Valuation

  6%

  $2,122,485

  6.5%

  $1,959,217

  7%

  $1,819,273

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,968,718

  Geo Method

  $1,968,718

• Alternative Use

  Use

  Valuation

  Residential

  $1,652,673

  Hospitality

  $1,513,839

  Educational

  $1,259,496

  Medical

  $1,302,812

  Retail

  $1,959,217

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1429

Longitude

-90.0454

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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