477 Main StMemphis, TN 38103

Property Details for 477 Main St

Year built

1913

Lot size

0.20 AC

Property size (Sq ft)

48,025 SF

Zone code

SM

Property type

Hospitality properties

Property subtype

Hotels

APN

002-107- - -00002

APU

210700002

Description

This exceptional 4,500 square foot restaurant space is available for lease within the Arrive Hotel, situated on the highly desirable southwest corner of South Main Street and Butler Avenue in the heart of Downtown Memphis, Tennessee. The property is a single-tenant space, offering a blank canvas for a discerning restaurateur. Located in Shelby County, the space boasts excellent visibility and accessibility, benefiting from high foot traffic and proximity to numerous attractions and businesses. The address is 477 S Main St, Memphis, TN 38103. The property is classified as retail and restaurant space, offering a unique opportunity to establish a thriving culinary establishment in a vibrant urban setting. With its prominent location and substantial square footage, this space presents a rare chance to capitalize on the burgeoning Memphis food scene. The entire 4,500 square feet is currently vacant, providing immediate occupancy for a new tenant. This turnkey opportunity allows for complete customization and design to perfectly suit the vision of the future operator. The property's strategic location within the Arrive Hotel offers potential synergies and access to hotel guests and visitors. This is an ideal space for a restaurant seeking a high-profile location in a dynamic and growing area of Memphis.

• CAP approach

  CAP return

  Valuation

  6%

  $7,859,559

  6.5%

  $7,254,978

  7%

  $6,736,765

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,798,468

  Geo Method

  $8,798,468

• Alternative Use

  Use

  Valuation

  Residential

  $7,920,328

  Hospitality

  $7,254,978

  Educational

  $6,036,056

  Medical

  $6,243,646

  Retail

  $9,389,421

Location Insight

City

Memphis

County

Shelby

State

Tennessee

Latitude

35.1344

Longitude

-90.0594

CBSA code

32820

CBSA name

MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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