409 Main StMemphis, TN 38103
- Retail properties
- 34,969 SF
Property Details for 409 Main St
- Year built
- 1910
- Lot size
- 0.19 AC
- Property size (Sq ft)
- 34,969 SF
- Zone code
- SM
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 002-105- - -00003
- APU
- 210500003
Description
This exceptional 35,000 square foot, three-story building at 409 S Main St in Memphis, Tennessee, presents a unique investment opportunity. Originally constructed in 1910, this Class B retail property sits on a 0.195-acre lot and is currently vacant. The building boasts a rich history, previously housing the successful Lucky Cowboy bar and lounge. The basement, with its eclectic décor and furniture (available separately), once held 110 people and features restrooms. The first floor includes a brand-new, full commercial kitchen, perfect for restaurant use or venue expansion, along with multiple restrooms. The second floor offers a blank canvas for adaptable design and potential event space expansion. The third floor is a fully functioning wedding venue, comfortably accommodating 250 people (220 seated), complete with a caterer's kitchen, bridal suite, groom's suite, and attached restrooms. This turnkey operation generates revenue from scheduled venue rentals. The asking price is $3,500,000, translating to $100 per square foot. This property offers significant potential for a variety of uses and substantial returns. The building's prime location in downtown Memphis ensures high visibility and accessibility. This is a rare chance to acquire a historic property with significant existing infrastructure and immediate revenue potential.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $7,406,564
- 6.5%
- $6,836,828
- 7%
- $6,348,483
-
Comparable approach
- Method
- Valuation
- Relative Method
- $6,869,982
- Geo Method
- $6,869,982
-
Alternative Use
- Use
- Valuation
- Residential
- $5,767,120
- Hospitality
- $5,282,651
- Educational
- $4,395,104
- Medical
- $4,546,258
- Retail
- $6,836,828
Location Insight
- City
- Memphis
- County
- Shelby
- State
- Tennessee
- Latitude
- 35.1355
- Longitude
- -90.0587
- CBSA code
- 32820
- CBSA name
- MEMPHIS, TN-MS-AR METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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