619 Madison AveMemphis, TN 38103

Property Details for 619 Madison Ave

Year built

1948

Lot size

0.29 AC

Property size (Sq ft)

3,503 SF

Zone code

CBD

Property type

Retail properties

Property subtype

Auto shops

APN

007-033- - -00002

APU

703300002

Description

This exceptional 3,503 square foot retail property, located at 619 Madison Avenue in Memphis, Tennessee, presents a unique investment opportunity. Currently configured as a four-bay mechanic shop, this versatile space offers significant potential for a variety of retail uses. Situated in the heart of Memphis, near the downtown core, this property benefits from high visibility and excellent access to major transportation routes. The asking price is $499,000, translating to a price per square foot of $149.87. The property is zoned for retail use and features a single unit within a shopping center setting. Its convenient location within Shelby County, zip code 38103, ensures easy access to a large customer base. The property's size and location make it ideal for a variety of retail businesses seeking a high-traffic location in a thriving urban environment. This is a rare opportunity to acquire a well-positioned retail space in a desirable Memphis neighborhood. The property's existing structure provides a solid foundation for immediate occupancy or potential redevelopment, offering flexibility to suit the needs of a discerning buyer. Serious inquiries are encouraged to explore this promising investment prospect. The property is ready for immediate possession.

• CAP approach

  CAP return

  Valuation

  6%

  $741,948

  6.5%

  $684,875

  7%

  $635,956

• Comparable approach

  Method

  Valuation

  Relative Method

  $688,197

  Geo Method

  $688,197

• Alternative Use

  Use

  Valuation

  Residential

  $577,718

  Hospitality

  $529,187

  Educational

  $440,277

  Medical

  $455,419

  Retail

  $684,875

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1416

Longitude

-90.0404

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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